Global Brain Health Functional Food And Beverage Market 2024 : Trends, Business Growth And Major Driving Factors

"The Business Research Company recently released a comprehensive report on the Global Brain Health Functional Food And Beverage Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The brain health functional food and beverage market size has grown rapidly in recent years. It will grow from $18.66 billion in 2023 to $20.70 billion in 2024 at a compound annual growth rate (CAGR) of 10.9%. The growth in the historic period can be attributed to rising awareness of cognitive health, increasing prevalence of neurological disorders, growing demand for preventive healthcare, expansion of the aging population, and heightening interest in natural and organic ingredients.

The brain health functional food and beverage market size is expected to see rapid growth in the next few years. It will grow to $31.44 billion in 2028 at a compound annual growth rate (CAGR) of 11.0%. The growth in the forecast period can be attributed to growing consumer focus on mental wellness, expansion of product offerings targeting specific cognitive functions, increasing prevalence of stress and mental fatigue, rising disposable incomes supporting premium products, and greater availability of brain-boosting supplements in mainstream retail channels. Major trends in the forecast period include diverse ingredient innovations, innovating nootropic products, focusing on clean-label and natural ingredients, innovations in delivery formats, and incorporating traditional products.

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Market Drivers and Trends:

The rising demand for functional foods is expected to propel the growth of the brain health functional food and beverage market going forward. Functional foods are foods that offer health benefits beyond basic nutrition due to the presence of bioactive compounds. These foods can help maintain or improve overall health, reduce the risk of diseases, or enhance specific physiological functions. The demand for functional foods is increasing due to growing consumer awareness about health and wellness, the prevalence of chronic diseases, and a desire for preventive healthcare solutions. Brain health-focused functional foods and drinks boost the demand for such products by providing benefits for cognitive function and mental clarity, which health-conscious consumers increasingly seek. For instance, in October 2023, according to the survey conducted on 3,192 U.S. adults aged 18 and over by the Council for Responsible Nutrition, a US-based trade association for the functional food industry, 74% of U.S. adults reported taking dietary supplements, with 55% identifying as regular users. Additionally, 92% of supplement users agreed that dietary supplements are essential for maintaining health. Safety and quality perceptions for sports nutrition supplements rose by 5%, reaching 66%, while weight management products saw a 4% increase in perceived safety and quality, now at 56%. Therefore, the rising demand for functional foods is driving the growth of the brain health functional food and beverage market.

Major companies operating in the brain health functional food and beverage market are focusing on developing innovative products, such as brain-supporting botanical extract, to provide a natural, clinically proven ingredient that enhances cognitive function and supports overall brain health. A brain-supporting botanical extract is a natural compound sourced from plants that is utilized to enhance cognitive functions, improve memory, support mental clarity, and protect against cognitive decline. For instance, in September 2023, Biotropics Malaysia Berhad, a Malaysia-based natural health products company, launched BioKesum leaf extract. This features clinically validated brain-nourishing flavonoids that improve memory and executive function and increase levels of brain-derived neurotrophic factor (BDNF). Its significance lies in offering a unique, natural ingredient with proven cognitive benefits, addressing the rising consumer demand for effective brain health supplements.

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Major Key Players of the Market:

Archer Daniels Midland Company (ADM), PepsiCo Inc., Unilever PLC, Abbott Laboratories, Danone SA, General Mills Inc., Amway Corp., Herbalife Nutrition Ltd., Perrigo Company Plc, Yakult Honsha Co Ltd., Thorne HealthTech, Garden of Life, Jarrow Formulas, Vital Proteins, Solgar Inc., Advanced Orthomolecular Research Inc., Elysium Health, Zhou Nutrition, Mind Lab Pro, BrainMD Health, Cerebelly, Koios Beverage Corp.

Brain Health Functional Food And Beverage Market 2024 Key Insights:

• The brain health functional food and beverage market size is expected to see rapid growth in the next few years. It will grow to $31.44 billion in 2028 at a compound annual growth rate (CAGR) of 11.0%.
• Increasing Demand For Functional Foods Fuels Growth In Brain Health Market
• Innovative Brain-Supporting Botanical Extracts Enhance Cognitive Function And Memory
• North America was the largest region in the brain health functional food and beverage market in 2023

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