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

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.

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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.

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