What is the global market size of Cognition Supplements Market?

Global Cognition Supplements Market size was valued at USD 7.61 billion in 2021 and is poised to grow from USD 8.63 billion in 2022 to USD 23.41 billion by 2030, growing at a CAGR of 13.3% in the forecast period (2023-2030).

Global Cognition Supplements Market Size, Share, Growth Analysis, By Product(Natural molecules, Herbal extracts), By Type(Chewable, Capsules), By Application(Memory enhancement, Mood), By Age group(Children, Adults), By Sales channel(Supermarkets & Hypermarkets, Drug stores), By Form(Chewable, Capsules) - Industry Forecast 2024-2031

Report ID: SQMIG35H2030 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 175 | Figures: 79

Global Cognition Supplements Market News

In March 2022, Cosmos Holdings, an international pharmaceutical firm, announced the launch of its luxury nutritional supplement product line - ‘Brainlit’ for brain health.

In June 2021, Motiva Supplements introduced 'Neuro Booster,' which increases absorption of six key functional foods and is the first clinically proven product to help Alzheimer's patients and improve brain health

Global Cognition Supplements Market Report Snapshots

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Global Cognition Supplements Market size was valued at USD 7.61 billion in 2019 and is poised to grow from USD 8.63 billion in 2023 to USD 23.41 billion by 2031, growing at a CAGR of 13.3% in the forecast period (2024-2031).

The cognitive supplements market is characterised by the presence of a few well-established players as well as several small and medium-sized players. These manufacturers are pursuing a variety of strategies, including new product launches, product portfolio expansion, and mergers and acquisitions. Several large firms are forming multiple strategic alliances in order to increase their market share and get a competitive edge. 'Herbalife Nutrition Ltd.', 'Amway Corp.', 'Nestle S.A.', 'Glanbia plc.', 'Reckitt Benckiser Group plc.', 'Pfizer Inc.', 'GNC Holdings Inc.', 'Nature's Bounty Co.', 'Nutraceutical International Corp.', 'BrainMD Health Inc.', 'Pure Encapsulations Inc.', 'Jarrow Formulas Inc.', 'NOW Foods Inc.', 'Garden of Life LLC.', 'Irwin Naturals Inc.', 'Rainbow Light Nutritional Systems Inc.', 'Solgar Inc.', 'Source Naturals Inc.', 'Thorne Research Inc.', 'Life Extension Foundation'

The young generation's mental health concerns about Alzheimer's disease and Parkinson's syndrome have led to widespread acceptance of cognition supplements and fuelled the market growth. Some of the advantages of taking cognition supplements include changes in neurotransmission, energy metabolism, and the alleviation of disorders. The increasing prevalence of insomnia, anxiety, and depression among consumers has prompted them to take these supplements to support their brain health. As a result, it contributes to market growth. The growing consumer awareness of brain health wellness has resulted in an increase in the consumption of these supplements. Aging is a significant risk factor for cognitive impairment and neurological disorders. The increase in the geriatric population in developed economies has also boosted the sales of cognition supplements. According to the US Census Bureau, the older adult population increased by 16% in 2020 and is expected to increase by 20% by 2050. These factors contribute to the growth of the market.

Growing geriatric population has created numerous opportunities for dietary supplement manufacturers, as most elderly people are unable to meet their Recommended Dietary Allowances (RDA) due to inadequate dietary intake, resulting in an increase in dietary supplements, including cognition supplements. Furthermore, the increasing importance of health as a lifestyle choice has enticed many companies to enter the vitamin, mineral, and botanical segments of the market under consideration. Thus, the dietary supplements market is being driven by the intense focus on the preventive healthcare system, as well as strong endorsements and marketing efforts of lifestyle enhancement products.

Based on region, the global cognition supplements market is segmented into North America, Asia Pacific, Europe, Latin America and Middle East Africa. In 2021, North America contributed the most to the market. Consumers' growing concerns about mental health are driving demand for the product in North America. According to data published in April 2020 by the United States National Library of Medicine, nearly 75 percent of the adult population in the United States consumes dietary supplements containing vitamins, minerals, and herbal ingredients to improve brain health, energy, and performance. These trends are likely to boost the country's market growth. Loneliness and uncertainty about the future are major stressors for adolescents and young adults in America, according to data published by the American Psychological Association, which is expected to drive an increasing number of adults to consume brain health supplements for proper brain functioning. The Asia Pacific region is the fastest growing market. The rapid growth of the education sector, combined with increased awareness about brain health in China and Japan's developing economies, is expected to fuel regional demand for the product in the near future. Global corporations are collaborating with Chinese and Indian firms to manufacture natural drugs. Over the forecast period, this trend is expected to create growth opportunities for naturally derived products. The rising prevalence of Alzheimer's disease in emerging economies such as China and India has expanded the market for memory supplementation in the region. According to some studies, the prevalence of dementia in the region will rise from 23 million in 2015 to nearly 71 million by 2025.

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