Brain Health Supplements Market Growth Analysis

Market Highlights

The Brain Health Supplements Market was estimated at US$ 8.23 billion in 2021 and is expected to grow at a CAGR of 8% during 2022-2028 to reach US$ 17.40 billion in 2028.

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Higher acceptance of these supplements is a result of consumers' significant change toward proactively addressing their health and wellness and dedicating themselves to enhancing their brain health and general longevity to boost focus and attention. Young people who are proactive are increasingly looking for cognitive health solutions, including natural and brain-supplement items.

In recent years, there has been a gradual growth in the product's popularity among American consumers, particularly millennials and the elderly population. This trend is projected to continue over the course of the forecast period as well. Because Americans are becoming more health conscious, supplements that target brain health have swiftly become popular in the country. People want to increase their brain's efficiency, sharpen their attention, 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 research released in 2019 by the National Institute of Mental Health, 6.0% of men and 9.6% of women had MDD.

The market for memory-improving supplements has expanded in the region as a result of the increased prevalence of Alzheimer's disease in developing nations like China and India. According to some projections, the number of people in the region who have dementia would increase from 23 million in 2015 to around 71 million by 2050. Over the course of the projection period, it is also anticipated that increased awareness of Alzheimer's and dementia would increase demand in this region for products that improve memory.

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 statistics 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.

Segments Analysis

By Supplement Type

The segment is divided into tablets, capsules, and others.

By Product Type

The segment is divided into natural molecules, herbal extracts, vitamins, and minerals. In terms of global revenue for 2021, the natural molecule sector held the biggest market share and is predicted to continue to dominate. This market's expansion is anticipated to be aided by the growing preference for brain supplements manufactured from natural ingredients over synthetic ones. Companies are also emphasizing the use of natural ingredients in their products.

By Age Group Type

The market is segmented into children, adults, elderly.

By Application Type

The market is segmented into memory enhancement, attention and focus, depression and mood, sleep and recovery, anti-aging and longevity, stress & anxiety. In terms of global revenue in 2021, the memory improvement sector held the biggest market share and is predicted to continue to dominate. The millennial generation is engaging in a variety of activities outside of their primary occupation, such as adventure sports, social events, and part-time work, which needs them to be intellectually awake throughout the day. Therefore, it is anticipated that changing consumer habits will increase demand for these goods. A survey from the Organization for Economic Cooperation and Development indicates that part-time employment is becoming more prevalent in nations like Germany, Italy, France, and Austria. Over the projection period, the shift in consumer lifestyle is anticipated to increase demand for memory-boosting supplements.

By Channel Type

The market is divided into supermarkets & hypermarkets, drug stores, online stores, and others.

Regional Analysis

The brain health supplements market is broken down geographically into areas like North America, Europe, Asia-Pacific, and the Rest of the World (RoW). In 2021, North America contributed the most to the market. The demand for the product in North America is being driven by consumers' increased concerns about their mental health. 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 statistics 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. In America, loneliness and uncertainty about the future are major stressors for adolescents and young adults, according to data published by the American Psychological Association in October 2020, which is expected to lead to an increase in the number of adults to use brain health supplements for the right kind of treatment.

Key Players

The following are the major players in the brain health supplements market:

• AlternaScript
• HVMN Inc.
• Intelligent Labs
• Natural Factors Nutritional Products Ltd.
• NOW Foods
• Onnit Labs, Inc.
• Peak Nootropics
• Purelife Bioscience Co., Ltd.
• Reckitt Benckiser Group plc.
• Teva Pharmaceutical Industries Ltd.

Manufacturers have been concentrating on creating a range of supplements that are specifically aimed at athletes who place an emphasis on improving their performance and preserving their composure. Over the following few years, this is anticipated to increase demand for supplements supporting brain health.

For instance:

• An international pharmaceutical company called Cosmos Holdings announced the debut of their upscale nutritional supplement product line called "Brainlit" for brain health in March 2022. The business's research and development team created a sophisticated formula that supports and improves brain function as various brain-related problems are on a steady rise.
• In June 2021, Motiva Supplements introduced "Neuro Booster," the first ever clinically validated supplement to aid Alzheimer's sufferers and boost brain health. It promotes increased absorption of six essential functional foods.
• Elysium Health Inc. and the University of Oxford collaborated to produce the Longevity supplement for brain health in June 2020. The "Matter" product contains a formulation of particular B vitamins that has been shown in clinical studies to delay brain atrophy related to age-related memory loss. In order to maximise the effectiveness of the B-vitamin complex, it also contains a powdered omega-3 lysine complex with higher bioavailability, along with an anthocyanin-rich bilberry extract that offers additional cognitive benefits.
• Neuriva, a product that improves cognitive health and is produced with two natural, GMO-free ingredients—Sharp Phosphatidylserine (PS) derived from plants and Neurofactor—was introduced by Reckitt Benckiser Group plc in April 2019.
• The human performance firm EXOS designated Onnit Labs, Inc. as its official performance nutrition partner in January 2019. This collaboration sought to bring both businesses together to concentrate on aiding the athletes by offering suitable nutrition items.

The overall competitive landscape has been affected due to these mergers and acquisitions.

Research Methodology

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s brain health supplements market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

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• Detailed profiling of additional market players (up to three players)
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Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

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