Global Brain Health Supplements Market is growing at a CAGR of ~10% during 2022-2028: Ken Research

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According to Ken Research 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. It 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.

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Key Growth Drivers

• 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.

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.

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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 governments 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.

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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.

• Most of this is attributed to expanding concerns regarding cognitive and brain health as well as the existence of important players in the region. In addition, given many activities need intense concentration, the thriving sports, and fitness sector is to blame for the region's leading market share.
• According to data from the National Library of Medicine, USA published in April 2020, about a quarter of American adults (24 and older) regularly take nutritional supplements that boost their energy, mental clarity, and performance. Such development is likely to accelerate the country's market expansion.

Competitive Landscape

The Global Brain Health Supplements Market is highly competitive with ~150 players which include globally diversified players, regional players as well as a large number of country-niche players each with their niche in Brain Health Supplements. Large global players constitute ~25% of competitors, while regional players represent the largest number of competitors. Some of the major players in the market include 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., and others.

Recent Developments Related to Major Players

• 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 have been shown in clinical studies to delay brain atrophy related to age-related memory loss. In order to maximize 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.

Conclusion

The Global Brain Health Supplements Market is anticipated to grow significantly during the projected period (2022-2028) due to the widespread recognition and acceptance of supplements. Furthermore, consumers have shifted toward actively managing their health and welfare and have dedicated themselves to improving brain health and general endurance to boost attention and focus. Though the market is highly competitive with ~150 participants, few regional players control the dominant share and country- niche players also hold a significant share. The market size is estimated to be ~US$ 8 billion in 2022 and is expected to reach a market size of ~US$ 15 billion by 2028 growing with a CAGR of ~10% during 2022 to 2028.

Note: This is an upcoming/planned report, so the figures quoted here for a market size estimate, forecast, growth, segment share, and competitive landscape are based on initial findings and might vary slightly in the actual report. Also, any required customizations can be covered to the best feasible extent for Pre-booking clients, and the report delivered within a maximum of two working weeks.

Ken Research has recently published report titled, Global Brain Health Supplements Market Size, Segments, Outlook, and Revenue Forecast 2022-2028, 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.

Market Taxonomy

By Product

• Herbal Extract
• Vitamins & Minerals
• Natural Molecules

By Supplement Form

• Tablets
• Capsules
• Others

By Application

• Memory Enhancement
• Attention & Focus
• Mood & Depression
• Sleep & Recovery
• Longevity & Anti-Aging
• Stress & Anxiety

By Age Group

• Children
• Adults
• Elderly

By Distribution Channel

• Supermarkets & Hypermarkets
• Drug Stores
• Online Stores
• Others

By Geography

• North America
• USA
• Canada
• Mexico
• Europe
• France
• Italy
• Germany
• Spain
• UK
• Rest of Europe
• Asia Pacific
• China
• India
• Japan
• South Korea
• Australia Rest of Asia Pacific
• LAMEA
• Latin America
• Middle East
• Africa

Key Players

• 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.

3 Key Insights on ~US$ 15 Bn Opportunity in the Global Brain Health Supplements Market: Ken Research

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The widespread recognition and acceptance of supplements, and shift in consumer preference to improve brain health to boost attention and focus, create tremendous market opportunities for the Global Brain Health Supplements Market which is forecasted to Cross ~US$ 15 Bn by 2028 says Ken Research Study.

Brain health supplements assist improve brain function such as focus, reduce stress, prevent anxiety, dementia, and depression, and improve human memory, encourage good attitudes and thought processes, make people enthusiastic, and improve such key areas of human functioning.

Ken Research shares 3 key insights on this high-opportunity market from its latest research study.

1. Product Innovation, Marketing Tactics, and Endorsements are Becoming More Widespread to Spur Market Expansion.

The market continues to expand as a result of a boost in product innovations and gaining widespread awareness of healthy lifestyles. Product safety, nutritive value, and brand familiarity are a few factors that influence consumers' purchase decisions. Making consumers aware of the advantages of supplements based on brain health through a variety of media, including print and electronic, is also likely to influence their purchasing choices. Docosahexaenoic acid (DHA), vitamin D, vitamin B12, antioxidants, vinpocetine, and bacopa monnieri are among the main ingredients utilized in brain health supplements.

According to Ken Research estimates, the Global Brain Health Supplements Market – valued at around ~US$ 5 billion in 2017 and estimated to reach nearly ~US$ 8 billion by 2022 – is further expected to grow to around ~US$ 15 billion opportunity by 2028.

2. Rise in Consumer Awareness of The Benefits of Taking Supplements for Brain Health Drives Market Growth.

The boost in the utilization of herbal and natural products is being accompanied by a rise in consumer concern over issues related to brain health, such as memory improvement, alertness, and creativity. This is expanding the market for substances that promote brain health. Growing consumer awareness of supplements for brain health is another factor driving market expansion. Furthermore, vitamins and nutritional benefits included in brain health supplements help with stress reduction, improved attention, mood elevation, memory improvement, and defense against anxiety, depression, and dementia. Supplements for brain health are a great lifestyle item because of the hectic lifestyle and mental stress of today. Supplements or boosters for brain health are available in a range of formats, including tablets, powders, capsules, and others. Additionally, it is anticipated that the prevalence of brain disorders like Alzheimer's, dementia, and brain tumors would have an impact on the development of this market.

According to World Health Organization, reported in 2021 that with Alzheimer's disease being the most prevalent type and accounting for around 55.2 million instances of dementia worldwide, Alzheimer's disease may account for 60–70% of all dementia cases.

3. Lack of Controls on the Production of Supplements, False Advertising, and Consumer Ignorance of the Product's Availability Restrain Market Expansion.

The market expansion of supplements for brain health is anticipated to be constrained by a number of reasons, such as consumer ignorance about the product's availability. In addition, such products are costly, and people in underdeveloped nations do not view them as absolutely necessary. People all over the world are reluctant to take brain health supplements since many believe them to be a product with a variety of side effects. Another reason is a lack of restrictions on the manufacture of supplements and false claims regarding the usefulness of the product. Manufacturing firms are allowed to advertise their products without seeking regulatory approval, which might result in items with false or misleading claims and undermine consumer confidence in products.

The U.S. Food and Drug Administration (FDA) issued 12 warning letters and 5 online advisory letters to companies in February 2019 for selling more than 58 dietary supplement products illegally and making claims that they could treat, prevent, or cure conditions like Alzheimer's disease as well as other serious illnesses.

According to an estimate by WPP PLC, U.S. political advertising is expected to generate $13 billion in revenue this year, up from $12 billion in 2020.

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Global Brain Health Supplements Market

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