Global Brain health supplements Market

Brain Health Supplements Market Size, Share, Growth Analysis, By Product Type(Natural Molecules, Herbal Extract, and Vitamins & Minerals), By Application(Memory Enhancement, Attention & Focus, Depression & Mood, Sleep & Recovery), By Region - Industry Forecast 2024-2031

Report ID: SQMIG35H2237 | Region: Global | Published Date: February, 2024
Pages: 219 | Tables: 66 | Figures: 75

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 size was valued at USD 7.65 Billion in 2021 and is poised to grow from USD 8.70 Billion in 2022 to USD 24.29 Billion by 2030, at a CAGR of 13.7% during the forecast period (2023-2030).

The 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. 'Johnson & Johnson (US)', 'Pfizer Inc. (US)', 'GlaxoSmithKline plc (UK)', 'Bayer AG (Germany)', 'Amway Corporation (US)', 'HVMN Inc. (US)', 'Onnit Labs, LLC (US)', 'Purelife Bioscience Co., Ltd. (China)', 'Cognizin (Kyowa Hakko Bio Co., Ltd.) (Japan)', 'Quincy Bioscience (US)', 'Neurohacker Collective LLC (US)', 'TruBrain (US)', 'Mind Lab Pro (United Kingdom)', 'Nootropics Depot (US)', 'Neuriva (Church & Dwight Co., Inc.) (US)', 'Amazon Inc. (US)', 'Walmart Inc. (US)', 'Costco Wholesale Corporation (US)', 'CVS Health Corporation (US)', 'GNC Holdings Inc. (US)'

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.

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.

In 2022, North America emerged as the dominant region in the 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.

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Global Brain health supplements Market

Report ID: SQMIG35H2237

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