Product ID: SQMIG35H2030
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 Insights
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).
Cognitive supplements are well-balanced blends of herbal extracts and nutrients that are taken to improve brain functions such as concentration, memory power, attention, mood, creativity, and motivation. Concerns about Alzheimer's disease and Korsakoff syndrome among the young population, as well as the addition of vitamins and minerals as multi-ingredients, are expected to drive market acceptance of these products. The increase in RD activities in herbal constituents is driving the growth of the global cognition supplements market. Herbal drugs are being studied for their medicinal properties as well as potential pharmaceutical applications. Furthermore, an increase in the number of key players manufacturing brain health supplements product contributes to market growth.
In recent years, there has been a gradual increase in the product's adoption among American consumers, particularly millennials and the aging population. This trend is likely to continue over the course of the forecast period as well. As Americans are becoming more health conscious, supplements that target brain health have quickly become popular in the country.
People want to increase their brain's efficiency, sharpen their focus, and reduce stress. The demand for these supplements is being driven by the rising prevalence of Major Depressive Disorder (MDD) among adults in the United States. According to a report released in 2019 by the National Institute of Mental Health, 6.0% of men and 9.6% of women had MDD. Nearly 75% of U.S. adults consume dietary supplements that contain vitamins, minerals, and herbal ingredients to enhance brain health, energy, and performance, according to data released by the U.S. National Library of Medicine in April 2020. These trends are probably going to accelerate the market expansion in the nation.
US Cognition Supplements Market is poised to grow at a sustainable CAGR for the next forcast year.
Global Cognition Supplements Market Report Snapshots
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