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brain health supplements market

Brain Health Supplements Market Share, Size, Trends, Industry Analysis Report, By Product (Natural Molecules, Herbal Extract, Vitamins & Minerals); By Application; By Region; Segment Forecast, 2022 - 2030

  • Published Date: Jun 2022
  • Pages: 114
  • Format: PDF
  • Report ID: PM2473
  • Base Year: 2021
  • Historical Data: 2018 - 2020

Report Summary

The global brain health supplements market was valued at USD 7.59 billion in 2021 and is expected to grow at a CAGR of 8.2% during the forecast period. Brain health supplements are organic complexes that positively impact the brain. These supplements are available in herbal extracts such as tablets, powders, and capsules. These supplements provide benefits such as improving memory, motivation, innovation, and alertness in individuals.

Brain Health Supplements Market Size

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The population is shifting toward proactively handling wellbeing and welfare and have devoted them to advancing their brain wellbeing and overall endurance to develop attention and focus, owing to wide acknowledgment and acceptance of these supplements. Brain health supplements are natural concentrates that are also recognized to aid depression, insomnia, anti-aging, and anxiety. These supplements improve an individual's attention and focus, and usage is increasing rapidly.

The outbreak of the COVID-19 pandemic has positively impacted the growth of the brain health supplements market. There has been a surge of demand for such products, majorly due to the weakening of the mental and emotional state. Hence, customers are gradually willing to spend on brain supplement products, mainly due to the uncertainty related to the increasing number of COVID-19 cases worldwide.

However, due to the global lockdown, there has been a disruption in obtaining raw materials and the supply of finished products, affecting the supply chain. Moreover, several countries have also enforced a ban on importing and exporting such raw materials, thereby hampering the production of brain health supplements.

The adoption of these supplements has seen a surge in recent years among the millennials and senior population in the United States, which is anticipated to grow over the forecast period. The increase in the adoption of such supplements is due to increasing awareness and health-consciousness among the people of the U.S.

These supplements have also enhanced people's focus and helped mental wellbeing by relieving stress. Further, based on a research paper by the National Institute of Mental Health, people suffering from Major Depressive Disorder (MDD) in the U.S. were 9.6% of females and 6.0% of males in 2019.

Industry Dynamics

Growth Drivers
The increasing demand for brain health supplements globally, is mainly propelled by a surge in R&D activities in herbal constituents. Organic medications or supplements provide various medicinal benefits. Therefore, the increase in the number of critical players producing brain health supplements products impacts the growth of the market.

Furthermore, the rise in prevalence of brain diseases such as Alzheimer’s, dementia, and brain tumors is estimated to influence the growth of this market. According to a recent study issued by the World Health Organization (WHO), it was testified that nearly around 55 million people were detected with dementia globally in 2021, which further mentions that there are almost 10 million new cases noticed yearly.

Additionally, the rise in the elderly population stipulates the growth of the brain health supplement market, owing to the prevalence of Alzheimer’s and dementia among elderly individuals. As per the data by the Population Reference Bureau report, “Aging in the United States,” 2019, the number of Americans in the age group of 65 and above is likely to increase to over 100 million by 2060. Further, based on a market study published by Global Burden of Disease (GBD) and the Institute of Health Metrics and Evaluation (IHME), by 2018, about 10.7% of the overall population was projected to suffer from a mental disorder. Among these, depression cases were in large number.

Report Segmentation

The market is primarily segmented based on product, application, and region.

By Product

By Application

By Region

  • Natural Molecules
  • Herbal Extract
  • Vitamins and Minerals
  • Memory Enhancement
  • Attention & Focus
  • Depression & Mood
  • Sleep and Recovery
  • Anti-aging & Longevity
  • Stress & Anxiety
  • North America (U.S., Canada)
  • Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
  • Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
  • Latin America (Brazil, Mexico, Argentina)
  • Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

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Natural molecule segment accounted for the largest market share in 2021

The natural molecule market segment accounted for the leading market share in the global revenue for 2021 and is expected to maintain dominance over the forecast period. The growing adoption of brain supplements with natural and organic components compared to synthetic supplements that are synthetically made is estimated to enhance the growth of this segment.

Further, market manufacturers are concentrating on including organic content in their products. For instance, Reckitt Benckiser Group plc, in April 2019, introduced Neuriva, which boosts cognitive health and an amalgamation of two natural and GMO-free ingredients, such as plant-sourced Sharp Phosphatidylserine (PS) and Neurofactor.

Memory enhancement accounted for the largest market share in 2021

Based on application, the memory enhancement market segment accounted for the largest market share in the global revenue for 2021 and is expected to maintain dominance over the forecast period. It has been observed that the younger generation are more engaged in several activities, such as adventure sports, social gatherings, and part-time jobs, besides their normal profession globally.

Therefore, the dynamic lifestyles of the people are anticipated to boost the market demand for brain health supplements. Further, based on a research study by the Organization for Economic Co-operation and Development, it has been observed that there has been a transitional trend for part-time jobs in countries such as Italy, Germany, France, and Austria. Hence, the transformation in consumer lifestyle is projected to increase the requirement for memory enhancement supplements over the market forecast period.

The North America region lead the global brain health supplements market by 2030

North America led the brain health supplements market in 2021. The rising issues related to mental health among people are increasing the demand for these products in the North American region. In April 2020, according to the U.S. National Library of Medicine, approximately 75% of U.S. adults consumed nutritional supplements that include vitamins, minerals, and herbal ingredients, which help improve the brain's health, stimulate energy, and perform.

This, in turn, leads to an increase in the market demand for brain health supplements in the U.S. Moreover, the market in North America is expected to boost the growth of these supplements, owing to an increase in the prevalence of brain diseases, a rise in consciousness about neural disorders, and a well-formed healthcare infrastructure in the market.

Competitive Insight

Some of the major players operating in the global market include Accelerated Intelligence Inc, AlternaScript LLC, Aurobindo Pharma Limited (Natroll, LLC), HVMN Inc, Intelligent Labs, KeyView Labs, Inc, Liquid Health, Inc, Natural Factors Nutritional Products Ltd, NOW Foods, Onnit Labs, LLC, Peak Nootropics, Purelife Bioscience Co., Ltd, Quincy Bioscience, LLC, Reckitt Benckiser Group plc, and Teva Pharmaceutical Industries Ltd.

Recent Developments

Further, in June 2020, Elysium Health, Inc. collaborated with the University of Oxford and unveiled a longevity supplement for brain health in the market. The product is comprised of a formulation of specific B vitamins clinically developed to slow brain atrophy and age-related memory loss. It also includes a powdered omega-3 lysine complex with improved bioavailability to enhance the effectiveness of the B-vitamin complex and an anthocyanin-rich bilberry extract to offer complementary cognitive benefits.

Moreover, Reckitt Benckiser Group plc. in February 2019, introduced a clinically proven 'Neuriva' brain health supplement in the U.S. market, built on a patented coffee bean extract. Additionally, they also established a mobile app to provide this supplement with personalized and customized brain training programs.

Brain Health Supplements Market Report Scope

Report Attributes

Details

Market size value in 2021

USD 7.59 Billion

Revenue forecast in 2030

USD 14.75 Billion

CAGR

8.2% from 2022 - 2030

Base year

2021

Historical data

2018 - 2020

Forecast period

2022 - 2030

Quantitative units

Revenue in USD billion and CAGR from 2022 to 2030

Segments covered

By Technology, By Device, By Application, By Region

Regional scope

North America, Europe, Asia Pacific, Latin America; Middle East & Africa

Key companies

Accelerated Intelligence Inc, AlternaScript LLC, Aurobindo Pharma Limited (Natroll, LLC), HVMN Inc, Intelligent Labs, KeyView Labs, Inc, Liquid Health, Inc, Natural Factors Nutritional Products Ltd, NOW Foods, Onnit Labs, LLC, Peak Nootropics, Purelife Bioscience Co., Ltd, Quincy Bioscience, LLC, Reckitt Benckiser Group plc, and Teva Pharmaceutical Industries Ltd.

 

Key Take-Away
Polaris Market Research
Brain Health Supplements Market Global Report, 2022 - 2030