Brain Health Supplements Market to Witness $5,813 Million Value by 2023 : AMR Research
Increase in number of promotional activities carried out by key players, rise in willingness among the general population to enhance brain functions, surge in number of self-directed consumers, and increase in awareness among the students about brain health supplements drive the growth of the global brain health supplements market. However, low demand from the underdeveloped countries in Asia and Africa is expected to impede the market growth. On the contrary, huge market potential in the developing regions is expected to offer lucrative opportunities for market expansion during the forecast period.
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At present, natural compounds dominate the brain health supplements market, due to their effectiveness and minimal adverse effects. However, herbal extracts are expected to exhibit high market growth during the forecast period, owing to rise in awareness about herbal extracts in the developed regions. Memory enhancement and attention & focus segments held more than 50% of the market share in 2016.
Key Findings of The Brain Health Supplements Market:
• The herbal extract segment is expected to grow with a CAGR of 9.8% from 2017 to 2023.
• In 2016, the supermarkets & hypermarkets segment held one-third share of the global market, and is expected to maintain its dominance throughout the forecast period.
• The attention & focus segment is expected to grow at the highest rate in the near future.
• Asia-Pacific is expected to register the highest CAGR of 10.1% during the forecast period.
North America accounted for two-fifths share of the global market in 2016, and is expected to remain dominant throughout the forecast period. This is attributed to high number of self-directed consumers, easy availability of products, increased awareness among the general population, and presence of highly sophisticated healthcare infrastructure in the region. On the other hand, Asia-Pacific is expected to show the highest growth during the forecast period, due to rapid growth of e-commerce and rise in awareness for brain health supplements among the general population.
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