Report ID: SQMIG35H2237
Brain Health Supplements Market Size, Share, Growth Analysis, By Product (Natural Molecules, Vitamins & Minerals), By Application (Depression & Mood, Stress & Anxiety), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35H2237 |
Region:
Global |
Published Date: September, 2024
Pages:
219
|Tables:
66
|Figures:
75
Brain Health Supplements Market Insights
Brain Health Supplements Market size was valued at USD 8.5 billion in 2022 and is poised to grow from USD 9.61 billion in 2023 to USD 25.74 billion by 2031, growing at a CAGR of 13.10% during the forecast period (2024-2031).
The primary purpose of the brain health supplements market is to cater to the growing demand for products that can potentially improve brain function and prevent age-related cognitive decline. As people become more aware of the importance of maintaining brain health and cognitive performance, the market offers a range of supplements to support their needs. One key challenge is the lack of stringent regulations and oversight in the supplement industry. This can lead to concerns about the safety, efficacy, and quality of brain health supplements. Some products may make unsubstantiated claims or contain potentially harmful ingredients, which can erode consumer trust.
The brain health supplements market faces various challenges. Scientific Validation Demonstrating the efficacy of brain health supplements through rigorous scientific studies can be challenging. The complex nature of brain function and the need for long-term studies make it difficult to establish conclusive evidence for the benefits of these supplements. The global brain health supplements market is driven by the increasing demand for products that support brain health and cognitive function. While challenges such as regulatory concerns and scientific validation exist, opportunities lie in research and development, personalization, and online sales channels. As the understanding of brain health advances, the market is likely to continue growing in the coming years.
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Brain Health Supplements Market Segmental Analysis
Global Brain Health Supplements Market is segmented by Product, function, application, end user and region. Based on Product, the market is segmented into Natural Molecules, Herbal Extracts, and Vitamins & Minerals. Based on Application, the market is segmented into Memory Enhancement, Attention & Focus, Depression & Mood, Sleep & Recovery, Anti-aging & Longevity, and Stress & Anxiety. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Global Brain health supplements Market Analysis by Product
The vitamins and minerals segment is projected to experience a significant compound annual growth rate (CAGR) of 14.3% during the forecast period from 2023 to 2030. This growth can be attributed to the rising awareness regarding the benefits of vitamins and minerals, which is expected to drive the demand for supplements in this segment. Vitamins and minerals are known to play a crucial role in preventing age-related cognitive decline, as well as developmental disorders like Alzheimer's disease and dementia.
In 2022, the herbal extract segment accounted for a substantial revenue share of 43.2% in the brain health supplements industry. The increasing preference for herbal products in countries such as China and India is expected to positively influence the demand for brain health supplements containing herbal extracts. According to a 2022 report by the World Health Organization, approximately 80% of the global population relies on traditional medicine for their primary healthcare needs.
Global Brain health supplements Market Analysis by Application
In 2022, the memory enhancement application segment dominated the market with a share of over 25.2%. The demand for memory enhancers and brain health supplements has been fueled by increasing competition in the academic sector, particularly among students. Additionally, the preference for natural and herbal extract supplements is expected to create growth opportunities for key market players in the coming years. Furthermore, in developed regions like North America and Europe, brain health supplements are gaining importance among the aging population who experience weak memory and conditions like Alzheimer's disease. According to the Alzheimer's Association, nearly one in five Americans faced mild cognitive impairment in 2022, which can be associated with the early onset of Alzheimer's.
The stress and anxiety segment are anticipated to exhibit the highest CAGR of over 14% during the forecast period. This growth is attributed to changing lifestyles and hectic work schedules, which have resulted in an increase in mental fatigue-related issues such as stress and anxiety. As a result, many working professionals are turning to brain health supplements to enhance their focus, attention, and alleviate stress, promoting relaxation of the mind.
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Brain Health Supplements Market Regional Insights
In 2022, North America emerged as the dominant region in the global brain health supplements market, holding a share of over 40.1%. The region has experienced significant growth in demand for brain health supplements in recent years, driven by increasing consumer awareness and the desire for products that enhance cognitive health. The trend of health consciousness, particularly among the younger population, has further fueled this demand. A survey conducted by the American Association of Retired Persons (AARP) in June 2019 revealed that Americans aged 50 and older are regularly consuming brain health supplements in large quantities due to growing concerns about brain and cognitive health.
Asia Pacific is projected to exhibit the highest compound annual growth rate (CAGR) of 15.8% from 2023 to 2030. The brain health supplements market has made significant inroads in the Asia Pacific, particularly in countries like China, India, and Japan. This growth can be attributed to the increasing consumer awareness about the benefits of brain health supplements, a preference for natural supplements over pharmaceuticals, and the rising prevalence of Alzheimer's disease in the region.
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Brain Health Supplements Market Dynamics
Global Brain health supplements Market Drivers
Increasing Awareness and Concerns about Cognitive Health
- There is a growing awareness among consumers about the importance of maintaining cognitive health and preventing age-related cognitive decline. As the aging population expands, the demand for brain health supplements is increasing. Consumers are actively seeking products that can support memory, focus, and overall brain function.
Growing Research on Brain Health
- Research on brain health and the role of nutrition in cognitive function has gained significant attention. The increasing body of scientific evidence linking certain nutrients and ingredients to cognitive benefits has fueled the demand for brain health supplements. Consumers are more inclined to choose products backed by scientific research and clinical studies.
Global Brain health supplements Market Restraints
Lack of Regulatory Oversight
- The brain health supplements market faces challenges related to the lack of stringent regulations and oversight. This can lead to concerns about product quality, safety, and unsubstantiated claims. The absence of standardized guidelines can undermine consumer confidence and pose risks to the market's growth.
Limited Scientific Evidence
- While research on brain health and supplements is expanding, there is still a need for more robust and long-term studies to establish conclusive evidence of the efficacy and safety of brain health supplements. The complexity of brain function and the variability of individual responses make it challenging to validate the benefits of these products.
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Brain Health Supplements Market Competitive Landscape
The global brain health supplements market is dynamic and characterized by the presence of numerous players, including both established companies and emerging market entrants. These companies compete in terms of product offerings, brand reputation, distribution channels, pricing strategies, and innovation. companies focus on product differentiation, innovation, quality control, regulatory compliance, and consumer education to gain a competitive edge. Strategic partnerships, acquisitions, and collaborations are also common strategies employed by companies to expand their market presence and enhance their product offerings.
Top Player’s Company Profiles in Global Brain health supplements Market
- Natural Factors Nutritional Products Ltd. (Canada)
- Purelife Bioscience Co., Ltd. (China)
- Intelligent Labs (UK)
- Accelerated Intelligence Inc. (US)
- NOW Foods (US)
- HVMN Inc. (US)
- Teva Pharmaceutical Industries Ltd. (Israel)
- Peak Nootropics (US)
- Alternascript (US)
- Pfizer Inc. (US)
- Abbott Laboratories (US)
- Bayer AG (Germany)
- Amway Corporation (US)
- Herbalife Nutrition Ltd. (US)
- Nordic Naturals, Inc. (US)
- Cognizin Citicoline (Kyowa Hakko Bio Co., Ltd.) (Japan)
- Neurohacker Collective, LLC (US)
- AOR Inc. (Canada)
- Life Extension Foundation (US)
- TruBrain (US)
- Nootrobox (HVMN) (US)
- NeuroScience, Inc. (US)
Global Brain health supplements Market Recent Developments
- In April 2022, Amway Corporation announced the launch of a new brain health supplement called "BrainWise Ultra," designed to support cognitive function and brain health.
- In June 2022, Onnit Labs, LLC introduced a new product called "Alpha BRAIN Instant," a powdered form of their popular Alpha BRAIN supplement, offering convenient on-the-go use.
- In September 2022, Johnson & Johnson announced a collaboration with a leading technology company to develop innovative brain health solutions, combining pharmaceutical expertise with digital health technologies.
- In November 2021, GlaxoSmithKline plc announced the acquisition of a brain health supplement company, expanding its portfolio and strengthening its presence in the cognitive health market.
Brain Health Supplements Key Market Trends
- Increasing Demand for Natural and Herbal Extract Supplements: Consumers have shown a growing preference for brain health supplements derived from natural and herbal sources. This trend is driven by the perception that natural ingredients are safer and have fewer side effects compared to synthetic alternatives. Manufacturers have responded by introducing a wide range of brain health supplements containing herbal extracts such as ginkgo biloba, bacopa monnieri, and curcumin.
- Rise in Personalized Supplements: Personalization has become a prominent trend in the brain health supplements market. Companies are leveraging advancements in technology and genetic testing to offer personalized supplement solutions. By analyzing an individual's genetic profile and specific cognitive needs, personalized brain health supplements can be formulated to provide targeted benefits. This trend aligns with the growing focus on precision medicine and tailored healthcare solutions.
Brain Health Supplements Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global brain health supplements market analysis, the market is a rapidly growing sector driven by increasing consumer awareness and demand for products that promote cognitive well-being. Brain health supplements encompass a wide range of products, including vitamins, minerals, herbal extracts, and other ingredients, designed to enhance memory, focus, and overall brain function. Here is a detailed analysis of the market. The brain health supplements market has experienced substantial growth in recent years and is projected to continue expanding at a significant rate. Factors such as the aging population, increasing prevalence of cognitive disorders, growing health consciousness, and rising consumer interest in preventive healthcare contribute to the market's growth. The global brain health supplements market shows promising growth prospects, driven by factors such as increasing consumer awareness, the aging population, and the growing focus on cognitive well-being. addressing challenges related to scientific evidence, regulations, and quality control will be crucial for sustained market growth.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 8.5 billion |
| Market size value in 2031 | USD 25.74 billion |
| Growth Rate | 13.10% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
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| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Brain Health Supplements Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Brain Health Supplements Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Brain Health Supplements Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Brain Health Supplements Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Brain Health Supplements Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Brain Health Supplements Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Brain Health Supplements Market Report Snapshots
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