Global Report on Brain Health Supplements Market Size & Share Worth USD 15.75 Billion, to Record a 8.4% CAGR by 2030 | Brain Health Supplements Industry Trends, Segmentation, Analysis & Forecast by Zion Market Research
NEW YORK, Feb. 1, 2023 /PRNewswire/ -- As per Zion Market Research study, The global brain health supplements industry size was nearly $7.69 billion in 2021 and is set to increase to about $15.75 billion by 2030 with a CAGR of nearly 8.4% between 2022 and 2030.
Brain Health Supplements Market: Overview
Growing demand for food supplement ingredients to improve the cognitive performance of adults has enhanced the popularity of brain health supplements in recent years. Massive consumer need for health and well-being along with an escalating trend towards the improvement of brain health and memory has increased the consumption of brain health supplements. The use of brain health supplements in developed countries such as the U.S. has increased in recent years and will continue in the years to come. Rise in health awareness among people globally has contributed majorly toward the intake of brain health supplements.
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Key Industry Insights & Findings of the Brain Health Supplements Market Reports:
- As per the analysis shared by our research analyst, the global brain health supplements market is projected to expand annually at the annual growth rate of around 8.4% over the forecast timespan (2022-2030)
- In terms of revenue, the global brain health supplements market was evaluated at nearly $7.69 billion in 2021 and is anticipated to hit $15.75 billion by 2030
- The global market is anticipated to surge at a remarkable rate over the forecast period due to the large-scale consumption of brain health supplements by the millennial population in countries such as the U.S.
- Based on product, the natural molecules segment accounted for the major market share in 2021
- On basis of application, the memory enhancement segment accounted for the highest market share in 2021
- On the basis of region, the North American region is predicted to be a key revenue generator for the global market over the projected timeframe
Zion Market Research published the latest report titled "Brain Health Supplements Market By Product (Natural Molecules and Herbal Extracts), By Application (Memory Enhancement, Attention & Focus, Depression & Food, Sleep & Recovery, Anti-aging & Longevity, and Stress & Anxiety), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2022 – 2030." into their research database.
Industry Dynamics:
Brain Health Supplements Market: Growth Drivers
- Massive demand for brain health supplements by millennial population in countries such as the U.S. to expedite the global market growth.
Growing intake of brain health supplements by the millennial population in countries such as the U.S. will boost the global market trends. Surging focus on improving brain performance as well as brain health has scaled up the growth of the global brain health supplements market. Rise in the occurrence of major depressive disorder in adults across the U.S. will enlarge the demand for brain health supplements, thereby spurring the expansion of the global brain health supplements market. As per the data published by the U.S. National Library of Medicine in 2020, approximately three-fourths of the adult populace of the U.S. intake food supplements comprising herbal ingredients, vitamins, and minerals. Such trends are predicted to steer the growth of the global brain health supplements industry.
Brain Health Supplements Market: Restraints
- Stringent laws enforced by governments globally pertaining to product use can inhibit the global market surge.
Execution of strict laws by governments of various countries regarding the sale and use of brain health supplements will put brakes on the growth of the global brain health supplements market. Huge product costs can impede the business space.
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Brain Health Supplements Market: Opportunities
- Favorable government policies towards use of generic products to generate new growth avenues for the global market.
Easy availability of generic brain health supplements can create new growth opportunities for the global brain health supplements market. Moreover, supportive government policies in countries such as India towards the manufacture & utilization of generic products will open new vistas of growth for the global industry.
Brain Health Supplements Market: Challenges
- Large-scale manufacture of duplicate healthcare products to pose threat to the expansion of the global industry.
A prominent surge in the production of counterfeit healthcare products can pose a mammoth challenge to the growth of the global industry.
Global Brain Health Supplements Market: Segmentation
The global brain health supplements market is divided into product, application, and region.
In terms of product, the global brain health supplements industry is segmented into natural molecules and herbal extracts. Moreover, the natural molecules segment, which accounted for the largest market share in 2021, is set to exhibit lucrative growth during the forecast timeframe. The expansion of the segment over 2022-2030 can be credited to the humungous use of brain supplements having natural ingredients by the global population.
On the basis of application, the global brain health supplements market is divided into sleep & recovery, memory enhancement, anti-aging & longevity, attention & focus, depression & food, and stress & anxiety. Moreover, the memory enhancement segment, which led the global brain health supplements market share in 2021, is set to lead it even over the forecast timeframe. The segmental growth can be due to the immense demand for brain health supplements in the memory enhancement segment due to the need for memory enhancement in adventure sports and part-time jobs. Moreover, swiftly changing lifestyles will expand the demand for memory enhancement supplements in various domains, thereby driving a segmental surge.
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List of Key Players in Brain Health Supplements Market:
- NOW Foods
- Intelligent Labs
- Teva Pharmaceutical Industries Ltd.
- AlternaScript LLC
- Purelife Bioscience Co. Ltd.
- Peak Nootropics LLC
- Natural Factors Nutritional Products Ltd.
- HVMN Inc.
- Onnit Labs Inc.
- Reckitt Benckiser Group plc.
Key questions answered in this report:
- What are the growth rate forecast and market size for Brain Health Supplements Market?
- What are the key driving factors propelling the Brain Health Supplements Market forward?
- What are the most important companies in the Brain Health Supplements Market Industry?
- What segments does the Brain Health Supplements Market cover?
- How can I receive a free copy of the Brain Health Supplements Market sample report and company profiles?
Report Scope:
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Recent Developments
- In the first half of 2021, Motiva Supplements, a key producer of life-changing products improving cognitive functions & focusing on improving memory, introduced 'Neuro Booster' product providing an absorbing feature that can absorb six functional foods and helps Alzheimer patients along with improving the health of the brain. The strategic move will help in contributing notably to the growth of the global brain health supplements market.
- In the second quarter of 2020, Elysium Health, Inc., a key U.S.-based producer of food supplements, joined hands with Oxford University to launch a longevity dietary supplement for improving brain health. The initiative will assist in embellishing the expansion of the global brain health supplements business.
Regional Dominance:
- Asia Pacific region to lead the global market growth.
In terms of region, the global brain health supplements market is sectored into the Asia-Pacific, Latin America, Europe, North America, and the Middle East and Africa. The Asia-Pacific region is slated to register the fastest CAGR in the next eight years owing to large-scale awareness about benefits accrued due to the intake of brain health supplements in countries such as Japan and China. Apart from this, the surge in cases of Alzheimer's in developing countries such as India and China will boost regional market trends. In addition, growing awareness about dementia among people will embellish the scope of expansion of the global market in the ensuing years.
Global Brain Health Supplements Market is segmented as follows:
Brain Health Supplements Market: By Product Outlook (2022-2030)
- Natural Molecules
- Herbal Extracts
Brain Health Supplements Market: By Application Outlook (2022-2030)
- Memory Enhancement
- Attention & Focus
- Depression & Food
- Sleep & Recovery
- Anti-aging & Longevity
- Stress & Anxiety
Brain Health Supplements Market: By Region Outlook (2022-2030)
North America
- The U.S.
- Canada
Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
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