Global Brain Health Supplements Market Report 2022: Sector to Reach $15 Billion by 2028 at a CAGR of 10%
DUBLIN, March 13, 2023
DUBLIN, March 13, 2023 /PRNewswire/ -- The "Global Brain Health Supplements Market Size, Segments, Outlook, and Revenue Forecast 2022-2028 by Product, Supplement Form, Application, Age Group, Distribution Channel Region" report has been added to ResearchAndMarkets.com's offering.
The global brain health supplements market is estimated to be ~US$ 8 billion in 2022 and is expected to reach a market size of ~US$ 15 billion by 2028 growing at a CAGR of ~10% during 2022-2028.
- Accelerated Intelligence Inc
- AlternaScript LLC
- Aurobindo Pharma Limited
- HVMN Inc
- Procera Health/KeyView Labs, Inc
- Liquid Health, Inc
- Natural Factors Nutritional Products Ltd
- Onnit Labs, LLC
- Purelife Bioscience Co, Ltd
- Quincy Bioscience, LLC
Brain health supplements can assist improve brain function such as focus, reduce stress, prevent anxiety, dementia, and depression, improve human memory, encourage good attitudes and thought processes, make people enthusiastic, and improve such key areas of human functioning.
According to this analysis, the Global Brain Health Supplements Market was valued at ~US$ 5 billion in 2017. The market is anticipated to grow significantly throughout the projected period as a result of the higher acceptance of such supplements is a result of consumers' significant change toward proactively addressing their health and wellness and their commitment to enhancing their brain health and general longevity to boost concentration and focus.
The rise in R&D activity in herbal ingredients is the key driver of the rising demand for brain health supplements worldwide. Organic medicines or supplements have a variety of health advantages. As a result, the market's expansion is impacted by the rise in the number of significant companies creating brain health supplements.
The market for brain health supplements is predicted to be constrained by factors such as consumer misunderstanding of the product's availability, the cost of the supplements, and the fact that people in developing nations do not consider them as an absolute necessity.
The market for brain health supplements has grown favorably as a result of the COVID-19 pandemic. The deterioration of mental and emotional conditions has resulted in a rise in demand for such products. Due to the uncertainties surrounding the rising number of COVID-19 cases globally, people are constantly becoming more prepared to spend money on brain supplement products.
Scope of the Report
The Global Brain Health Supplements Market is segmented into Product, Supplement Form, Application, Age Group, and Distribution Channel. In addition, the report also covers market size and forecasts for the four regions. The revenue used to size and forecast the market for each segment is US$ Bn
- Herbal Extract
- Vitamins & Minerals
- Natural Molecules
By Supplement Form
- Memory Enhancement
- Attention & Focus
- Mood & Depression
- Sleep & Recovery
- Longevity & Anti-Aging
- Stress & Anxiety
By Age Group
By Distribution Channel
- Supermarkets & Hypermarkets
- Drug Stores
- Online Stores
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- AustraliaRest of Asia Pacific
- Latin America
- Middle East
Key Trends by Market Segment
By Product - Natural Molecules dominated the market in 2021, due acceptance of brain supplements created with natural and organic ingredients as opposed to supplements made with synthetic ingredients.
- This market's expansion is anticipated to be aided by the growing preference for brain supplements manufactured from natural ingredients over synthetic ones. Additionally, businesses are emphasizing the use of natural ingredients in their products
- The simple accessibility and affordability of the products are credited with the segment's growth. These products' natural components, such as acetyl-L-carnitine, huperzine-A, and omega-3 fatty acids, aid in enhancing attention and reducing stress, anxiety, and depression
By Age Group - Adult's segment dominated the market during the forecast period due to the rising number of adults who started taking supplements for brain health to maintain normal brain function.
- According to U.S. Census Bureau statistics in 2021, there were more than 54 million adults in the country who are 65 years of age or older and accounted for 16.5% of the population of the country
- According to the United Nations Population Fund (UNFPA) Asia and the Pacific reported that in 2021 one in four individuals would be older than 60 by 2050. Between 2010 and 2050, the number of senior people (those over 60) in the region will quadruple, growing to around 1.3 billion
By Supplement Form - The capsule segment dominated the market during 2021, due to the simplicity of formulation development.
- Due to the simplicity of formulation development and progress in the pharmaceutical industries to produce safe and efficient supplement forms, the capsules segment dominated the market, and this trend is anticipated to persist during the forecast period
By Distribution Channel - Drug stores dominated the market in 2021, owing to the rise in number of government authorize drug stores in USA. They are likely continue dominance during the forecast period, however Online Stores channel is gaining prominence.
By Application - Memory Enhancement segment accounted for the largest market share in 2021, owing to naturally derived brain health supplements preventing anxiety and memory loss concerns.
- The millennial generation is engaging in a broad range of activities outside 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 such products
By Geography: North America accounted for the largest market share among all regions in 2021, owing to the demand for such products rising as a result of people's increased attention to mental health issues.
For more information about this report visit https://www.researchandmarkets.com/r/r55ahr
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