by The global brain health supplements market is estimated to be valued at US$ 9.0 billion in 2023 and is expected to exhibit a CAGR of 8.5% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview: Brain health supplements are dietary supplements that are formulated to enhance brain function and improve cognitive abilities. These supplements contain a combination of vitamins, minerals, and natural ingredients that provide neuroprotective effects and support brain health. The growing prevalence of neurological disorders, such as Alzheimer’s disease and Parkinson’s disease, is driving the demand for brain health supplements. Additionally, the increasing awareness about the importance of brain health and cognitive well-being among the aging population is further contributing to market growth. Brain health supplements offer several advantages, including improved memory, focus, concentration, and mental clarity. These products also help in reducing stress, anxiety, and depression, thereby improving overall mental well-being.
Market Key Trends: One key trend in the Brain Health Supplements Market Scope is the increasing demand for natural and organic supplements. Consumers are becoming more conscious about their health and are looking for natural alternatives to support brain function. Natural brain health supplements are formulated using plant-based ingredients, such as herbs, fruits, and vegetables, that are known to have positive effects on cognitive function. These supplements are perceived as safer and more sustainable options compared to synthetic supplements. Manufacturers are also incorporating other natural ingredients, such as antioxidants and adaptogens, to enhance the efficacy of their products. The rising popularity of natural and organic brain health supplements is expected to drive market growth in the coming years.
Segment Analysis:
The brain health supplements market can be segmented based on product type, distribution channel, and region. In terms of product type, the market is dominated by memory supplements. Memory supplements have gained significant popularity due to the increasing prevalence of memory-related disorders such as Alzheimer’s disease and dementia. These supplements help in improving brain function, enhancing memory, and reducing cognitive decline. The memory supplements segment is expected to dominate the market throughout the forecast period.
In terms of distribution channel, the market can be segmented into pharmacies/drugstores, supermarkets/hypermarkets, online platforms, and others. Currently, the online platforms segment holds a major share in the market. The convenience of purchasing brain health supplements online, easy accessibility, and a wide range of options available are contributing factors to the dominance of this segment. Moreover, online platforms offer discounts and promotions, attracting a larger consumer base.
Key Takeaways:
The global brain health supplements market is expected to witness high growth, exhibiting a CAGR of 8.5% over the forecast period from 2023 to 2030. This growth can be attributed to various factors, including the increasing awareness about brain health and cognitive disorders, the growing aging population, and the rising demand for natural and organic supplements.
In terms of regional analysis, North America is anticipated to be the fastest-growing and dominating region in the brain health supplements market. The presence of a large geriatric population, high healthcare expenditure, and the presence of key market players in the region contribute to its dominance. Additionally, increasing consumer awareness about brain health and the willingness to spend on preventive healthcare are driving market growth in North America.
Key players operating in the brain health supplements market include Alternascript, Accelerated Intelligence, Liquid Health, Health Via Modern Nutrition Inc., Natural Factors USA, Onnit Labs, Inc., Purelife bioscience Co., Ltd., Quincy Bioscience – The Makers of Prevagen, Cerebral success, Amway Corp., Puori, Ocean Health Pte Ltd., and Schiff. These players focus on product innovation, mergers and acquisitions, and strategic partnerships to strengthen their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
