Press release
Cognitive Supplements Market Set to Reach $0.91 Billion by 2029 with 13.5% Yearly Growth
Cognitive Supplements Market Size
The cognitive supplement market's anticipated growth is fueled by the rising elderly population. The phrase 'aging population' denotes a demographic phenomenon marked by a marked growth in the percentage or total number of senior individuals within a certain population. Factors such as decreasing birthrates, advancements in healthcare and medicine extending life expectancy, and demographic trends favoring older age groups contribute to this increase in the aging population. Cognitive supplements cater to the needs of the aging demographic by enhancing cognitive prowess, memory, and overall brain wellness. In line with this, the Population Reference Bureau, a nonprofit organization based in the U.S., reported in January 2024 that the population of Americans who are 65 years old and above is projected to grow from 58 million in 2022 to 82 million by 2050. Hence, the growth of the aging population is a major driver of the expansion of the cognitive supplement market.
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What growth opportunities are expected to drive the cognitive supplements market's CAGR through 2034?
In the past few years, the cognitive supplements market size has seen a swift expansion. The market value is expected to escalate from $0.48 billion in 2024 to $0.55 billion in 2025, marking a compound annual growth rate (CAGR) of 13.9%. The historical growth rate can be accredited to the heightened awareness about the advantages of cognitive health, a rising older population, embracing of nootropics and smart drugs, an upward shift in consumer interest, and an expansion in stress levels.
Predictions for the cognitive supplements market size forecast rapid expansion in the upcoming years. The market is projected to reach $0.91 billion by 2029, with a compound annual growth rate (CAGR) of 13.5%. Factors contributing to the growth during the forecast timeframe include the rise in neurological disorders, growth in e-commerce platforms, a heightened focus on mental health among consumers, an increase in disposable income, and the expansion of retail networks and pharmacies. Key trends expected during the forecast period involve emerging technologies, the rise of nootropic supplements, the preference for natural and herbal ingredients, the utilization of subscription-based models, and a shift towards sustainable sourcing practices.
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What trends are poised to drive the future success of the cognitive supplements market?
Key players in the cognitive supplements market, like Estrid, are innovating with personalised cognitive health solutions, such as subscription-based models, to better serve individual requirements and inclinations. This not only provides customers easy access to supplements but also enhances customer satisfaction and fosters loyalty. The subscription-based model enables customers to subscribe to a routine delivery service so they can regularly receive their cognitive supplements, usually on a monthly or quarterly basis. For example, Estrid, a health and wellness company in Sweden, launched April in May 2022. April is a wellness brand that blends modern science with traditional herbal medicines to provide a vegan, subscription-based supplement range. By working with UK industry leaders, doctors, dietitians, and herbalists, the brand is built to simplify and enrich daily wellness routines. They have three offerings - Multi-Me for cognitive function and energy enhancement, Glow Service for boosting collagen production, and Club Calm for emotional support.
Which growth-oriented segments of the cognitive supplements market are leading the industry's development?
The cognitive supplements market covered in this report is segmented -
1) By Product Type: Natural Molecules, Herbal Extract, Vitamins And Minerals
2) By Form: Chewable, Capsules
3) By Distribution Channel: Super market, Medical Stores, Online Retail Stores, Other Distribution Channels
Subsegments:
1) By Natural Molecules: Omega-3 Fatty Acids, Phosphatidylserine, Acetyl-L-Carnitine, Ginkgo Biloba
2) By Herbal Extract: Rhodiola Rosea, Bacopa Monnieri, Panax Ginseng, Ashwagandha
3) By Vitamins And Minerals: Vitamin B Complex, Vitamin D, Magnesium, Zinc
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What regions are leading the charge in the cognitive supplements market?
North America was the largest region in the cognitive supplements market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cognitive supplements market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What companies are at the forefront of innovation in the cognitive supplements market?
Major companies operating in the cognitive supplements market report are Amway Corporation; Lonza Group AG; Glanbia PLC; Herbalife Nutrition Ltd.; Swanson Health Products; NOW Health Group Inc.; Thorne Healthtech Inc.; Life Extension; Jarrow Formulas Inc.; MegaFood; Natural Factors Inc.; Integrative Therapeutics; Gaia Herbs; Solgar Inc; Nordic Naturals; Liquid Health Inc.; Doctor's Best Inc; Onnit Labs Inc.; Nature's Bounty Co.; Carlson Labs; HVMN Inc.; Vital Nutrients Inc.; Douglas Laboratories; Source Naturals; Garden of Life
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What Is Covered In The Cognitive Supplements Global Market Report?
• Market Size Forecast: Examine the cognitive supplements market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the cognitive supplements market for a structured understanding.
• Key Players Overview: Analyze major players in the cognitive supplements market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the cognitive supplements market.
• Segment Contributions: Evaluate how different segments drive overall growth in the cognitive supplements market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the cognitive supplements market.
• Industry Challenges: Identify potential risks and obstacles affecting the cognitive supplements market.
• Competitive Landscape: Review strategic developments in the cognitive supplements market, including expansions, agreements, and new product launches.
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