Brain Health Supplements Market Trends | Demand | Size | Share

Brain Health Supplements Market Trends | Demand | Size | Share

Brazil - City News Miami originally published at Brazil - City News Miami

DataM Intelligence

Global Brain Health Supplements Market Size is estimated to reach USD 9089.99 million by 2029, growing at a CAGR of 8.3% during 2022-2029

In August 2020, Elysium Health has launched a new brain health supplement based on research done at the University of Oxford. ”

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CLEVELAND, OHIO, UNITED STATE AMERICA, December 20, 2022 / — Brain Health Supplements Market Outlook:

Brain health supplements enhance cognition and memory and facilitate learning. These supplements improve concentration and boost memory power. They often increase attention spans, help individuals focus, and act as studying aids. Brain health supplements are gaining acceptance in the market due to aggressive promotion and enhanced sales channels to increase their accessibility to consumers.

The global Brain Health Supplements market size was worth USD 4886.92 million in 2021 and is estimated to reach USD 9089.99 million by 2029, growing at a CAGR of 8.3% during the forecast period (2022-2029).

• Brain-boosting supplements are also known as nootropics. Manufacturers of these products make many claims about the extensive benefits they provide, including delaying dementia and improving cognitive function and focus.

• These are becoming increasingly popular to give the mind an extra boost. According to one Telegraph report, up to 25% of students at leading UK universities have taken the smart drug modafinil, and California tech start-up employees are trying everything from Adderall to LSD to push their brains into a higher gear.

• According to the AARP’s Brain Health and Dietary Supplements Survey, Americans age 50 and older are among the largest consumers of brain-health supplements. The older people are, the more likely they are to turn to supplements because they begin to develop concerns about their health, especially conditions such as dementia. More than three-quarters of adults over age 74 take some sort of vitamin or dietary supplement, as do almost 70 percent of boomers (those between 55 and 73). As per the AARP’s survey, more than a quarter of Americans ages 50 to 73 are regularly taking supplements for their brain health and this rises to 36% for those over 74.

• In August 2020, Elysium Health launched a new brain health supplement based on research done at the University of Oxford. The supplement, called Matter, pairs a high-dose suite of B vitamins with specially formulated omega-3s from fish oil.

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Brain Health Supplements Market Dynamics:

• Increasing awareness of the advantages of brain health supplements among college students, scientists and the transition of nature of work towards knowledge-based industries, and the growing use of supplements by patients with mental illness is driving the growth of the brain health supplement market. For instance, according to the Centers for Disease Control and Prevention report, an estimated 16 million Americans are suffering from some form of mental illness.

• Other than that, it is predicted that the number of 65 and older people with Alzheimer’s is estimated to increase from approximately 5.8 million to 13.8 million by 2050. All these factors are driving the market growth of brain supplements as brain enhancing supplements is growing by the day.

• Other than that, brain health supplements are becoming more popular among sportspersons and people who are focused on overall health due to scientific evidence of healthy brain and body decision making Brain Health Supplements Market such as reaction speed, strong visual attention, cognitive flexibility for the body movement etc.

Brain Health Supplements Market Opportunities:

According to industry insiders, in the future, the growth of the cognitive health market will make consumers demand more research to prove the claims of manufacturers, which will create more trust in these products resulting in more expansion opportunities for the brain health supplement market.

COVID-19 Impact Insights:

• The new norm of social distancing and lockdown in the midst of Covid-19 pandemic in 2020 has resulted in an increase in consumer’s stress level and strain on overall brain health, which had led to a rise in demands for ingredients of brain supplements that boost the mood and manage stress. Because of this, many new players are entering the market recently to acquire the market share in the future.

• From the time of Covid-19, the brain supplement market has been trending towards ingredients that can treat anxiety, stress relief and other lifestyle considerations, as consumers increasingly think of food and supplements as means to control their life effectively.

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Brain Health Supplements Market Segmentation:

By Product Type:

• Herbal Extracts

• Vitamins & Minerals

• Natural Molecules

• Other

By Application:

• Memory Enhancement

• Mood & Depression

• Attention & Focus

• Longevity & Anti-aging

• Sleep & Recovery

• Anxiety

By Supplement Form:

• Tablets

• Capsules

• Others

By Age Group:

• Geriatric

• Adults

• Pediatrics

By Distribution Channel:

• Supermarkets & Hypermarkets

• Drug Stores

• Online Stores

Some of the herbs and spices that help to boost brain health are probably already in our cabinet or refrigerator.

• While some of these herbs and spices have been researched for their general impacts on cognition, others have been tested for their effects on Alzheimer’s disease (the mental action or process involved in thinking, understanding, learning, and remembering).

• A spice known for its strong aroma, sage might also improve cognition and aid in the treatment of Alzheimer’s disease.

• Ginkgo biloba is a popular supplement and one of the top-selling herbal medicines. Ginkgo biloba extract is collected from the dried green leaves of the plant and is available as liquid extracts, capsules, and tablets. People use it for a variety of reasons.

• Vitamins & Minerals market is estimated to account for a share of approximately 25.19% of the brain health supplements ingredients market in 2021 vitamins and minerals are essential substances that bodies need to develop and function normally.

• The known vitamins include A, C, D, E, and K, and the B vitamins: thiamin (B1), riboflavin (B2), niacin (B3), pantothenic acid (B5), pyridoxal (B6), cobalamin (B12), biotin, and folate/folic acid.

• The supermarkets & hypermarkets segment is estimated to grow at a CAGR of 8.4% during the forecast period (2022-2029) to reach a market value of USD 3775.73 million by 2029.

• A hypermarket is a retail shop that incorporates a department store and a grocery supermarket. Hypermarkets are often very large establishments offering various products such as appliances, clothing, groceries and others.

• Hypermarkets deliver customers a one-stop shopping experience.

Regional Insights:

By Region:

• North America

• Latin America

• Europe

• Asia Pacific

• Middle East and Africa

North America Regional Insights:

• The North America brain health supplements market is valued at USD 1977.25 Mn in 2021 and is estimated to grow at a CAGR of 8.4% over the forecast period to reach a USD 3711.39 Mn by 2029.

• North America accounted for the largest share of the global brain health supplements market due to awareness about the use of brain health supplements.

• The increasing brain health issues, such as depression and dementia, boost the demand for the products. Depression, stress, and anxiety are common mental illnesses among adolescents and millennials in the region.

South America Market Insights:

• The South American market is estimated to grow at a CAGR of 7.5% during the forecast period (2022-2029) to reach a market value of USD 501.39 million by 2029.

• South America is experiencing a rise in the elderly population and a consequent increase in geriatric problems such as Alzheimer’s, depression, and anxiety among others.

European Market Insights:

• The Europe market is estimated to grow at a CAGR of 8.0% during the forecast period (2022-2029) to reach a market value of USD 2434.15 million by 2029.

• Europe has the second largest share in the brain health supplements ingredients market owing to the presence of major market players in this region, which are introducing quality products for capturing maximum market share.

• Additionally, government support for research & development and the availability of funds for research is boosting the health supplements market.

Asia Pacific Market Insights

• The Asia-Pacific market is estimated to grow at a CAGR of 8.8% during the forecast period (2022-2029) to reach a market value of USD 2063.23 million by 2028.

• Asia-Pacific market has the third largest share in the market during the forecast period owing to the high prevalence of chronic diseases in countries such as India and China.

• Vitamins and multivitamins are gaining traction as consumers are shifting to dietary supplements for the prevention of chronic diseases. Emerging markets in economies are going to be potential markets for brain health supplement ingredients.

Middle East and Africa Market Insights:

•The Middle East & Africa market is estimated to grow at a CAGR of 7.0% during the forecast period to reach a market value of USD 379.83 million by 2029.

•Middle East & Africa has a moderately growing market owing to the growing access and availability of brain health supplements and rising social awareness regarding brain disorders and other associated disorders.

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Competitive Analysis:

Some of the key industry players operational in the brain health supplements market include Koninklijke DSM N.V., Herbo Nutra, Suzhou Vitajoy Bio Tech. Ltd., Nutra Green Biotechnology Co., Ltd., Hello Brain, Purelife Bioscience Co., Ltd., ACCELERATED INTELLIGENCE INC., Liquid Health, Health Via Modern Nutrition Inc., Kemin Industries, Inc., Natural Factors USA, Procera Health, Onnit Labs, Inc., Quincy Bioscience, Alternascript, Kyowa Hakko Bio Co., Ltd, Ixoreal Biomed, Opti-Nutra Ltd, Natrol LLC, BioActives LLC, Taiyo GmbH, Ajinomoto AminoScience LLC, Sabinsa Corporation, ADM, BL Bio Lab, LLC among others.

These key market players are adopting various strategies such as mergers and acquisitions, product approvals, and agreements to increase product reach and strengthen their product portfolios, in order to enter or expand their business offerings and competitiveness in the global Brain Health Supplements market.

Sai Kiran
DataM Intelligence 4Market Research LLP
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Brazil - City News Miami originally published at Brazil - City News Miami