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Global Brain Health Supplements Market Size Revenue To Hit Nearly $15.75 Billion By 2030 - Zion Market Research
Global Brain Health Supplements Market
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.
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Massive demand for omega-3 fatty acids, vitamin B, vitamin E, and various other minerals has boosted the popularity of brain health supplements. In addition, end-users are now inclined towards improving their mental health and well-being, thereby creating a huge demand for brain health supplements. Moreover, consumers are inclined more towards the purchasing of cognitive health products such as brain supplements.
The growth of the global brain health supplements industry over the forecast timeframe can be credited to large-scale demand for the product among the millennial population in emerging as well as developed economies. Escalating demand for brain health supplements from the aging population will spur global industry trends. Growing health consciousness among the global population will embellish the industry landscape.
Nonetheless, stringent implementation laws by various governments regarding the intake of brain health supplements will decimate the expansion of the global brain health supplements industry. Furthermore, the humungous costs of brain health supplements can inhibit the industry landscape. However, easy access to generic brain health supplements will generate new avenues of growth for the global brain health supplements business. Moreover, favorable government regulations in countries such as India's use of generic items will open new growth dimensions for the global industry.
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The global brain health supplements market is divided into product, application, and region.
Based on product, the global brain health supplements industry is divided into herbal extracts and natural molecules. Furthermore, the natural molecules segment, which contributed to the highest market share in 2021, is projected to demonstrate massive expansion over the assessment period. The growth of the segment over 2022-2030 is subject to the humungous utility of brain supplements comprising natural constituents by the global population.
On the basis of application, the global brain health supplements market is segmented into depression & food, anti-aging & longevity, sleep & recovery, memory enhancement, attention & focus, and stress & anxiety. However, the memory enhancement segment, which dominated the global brain health supplements industry share in 2021, is anticipated to dominate the segmental surge in the ensuing years. The segmental surge can be owing to the optimum demand for brain health supplements with the escalating need for sharp memory for individuals in adventure sports activities and part-time jobs. Furthermore, rapidly altering lifestyles will enhance the popularity of memory enhancement supplements in a slew of domains, thereby expediting segmental expansion.
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North America is anticipated to lead the regional industry growth over the projected timeline due to growing mental health concerns among consumers. Apart from this, mental stress owing to uncertainty about the future in the adolescent age group population and youth across countries such as the U.S. and Canada will increase the intake of brain health supplements among youths and the adult population. This, in turn, will steer the expansion of the brain health supplements market in North America.
Recent Developments:
In the first quarter of 2021, Motiva Supplements, a key player in the business of manufacturing products that assist in bringing improvement in cognitive ability & memory of individuals, launched the 'Neuro Booster' product that can absorb six functional foods and assist Alzheimer's patients in improving memory. The initiative will help in accounting remarkably for the expansion of the global brain health supplements industry.
In the first half of 2020, Elysium Health, Inc., a major food supplements manufacturer based in the U.S., collaborated with Oxford University for introducing a long-lasting food supplement for enhancing brain health. The move will help in increasing the size and revenue of the global brain health supplements market.
This review is based on a report by Zion Market Research, 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."- Report at https://www.zionmarketresearch.com/report/brain-health-supplements-market
Key participants profiled in the global brain health supplements industry include:
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.Z
The global Brain Health Supplements market is segmented as follows:
By Product
Natural Molecules
Herbal Extracts
By Application
Memory Enhancement
Attention & Focus
Depression & Food
Sleep & Recovery
Anti-aging & Longevity
Stress & Anxiety
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By Region
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 the Middle East & Africa
FREQUENTLY ASKED QUESTIONS
Which key factors will influence the brain health supplements market growth over 2022-2030?
What will be the value of the brain health supplements market during 2022-2030?
Which region will contribute notably towards the brain health supplements market value?
Which are the major players leveraging the global brain health supplements market growth?
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