Brain Health Supplements Market To Reach $ 13.38 Billion By 2028 | Reports and data
Growing geriatric population, growing awareness of mental health issues, and growing desire to improve brain functions are the key factors driving the growth of the market.
New York, December 23, 2021 – The global brain health supplements market size is estimated to be $ 13.38 billion by 2028, from $ 7.21 billion in 2020, registering a CAGR of 8.4% during the forecast period . The growing awareness of mental health, the growing need to maintain brain function, and the growing need to deal with stress and anxiety are primarily driving the growth of the market. Brain health supplements are made from natural substances or herbal or plant extracts that primarily stimulate memory function, attention, focus, and alertness in healthy adults. They have also been shown to be very effective in managing sleep, depression and anxiety.
The growing apprehension of supplements for brain health, the increasing use of these supplements by young adults and the growing presence of supplements for brain health in online channels are the important factors propelling the growth of the market. industry. Moreover, the increasing burden of dementia, Alzheimer’s disease, and other neurological disorders among the elderly population further contributes to the growth of the market.
In addition, the growing incidences of insomnia, anxiety, depression and stress resulting from loneliness, isolation, bereavement and financial crisis amid the pandemic have also stimulated the need for supplements for the patient. brain health. The availability of many over-the-counter (OTC) supplements is also contributing to the growth of the market. However, the lack of strict regulations for product approvals and the lack of awareness of supplements in underdeveloped and developing countries are expected to act as restraining factors in the market within the estimated time frame.
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Highlights of the report:
- Herbal extracts segment is expected to register the highest growth in the time frame due to growing awareness of herbal extracts and their benefits in countries such as UK and USA. The segment of natural molecules is also expected to register significant growth due to their increasing application. in reducing the intensity of several cognitive disorders.
- The memory enhancement segment is estimated to represent a considerable part of the accredited industry in the face of growing concerns about dementia in the elderly and the rapid availability of brain health supplements in the market.
- The increasing occurrences of dementia, Alzheimer’s disease and other disorders, coupled with the growing desire to improve brain function among the adult population, are strengthening the expansion of the elderly segment on schedule.
- North America held the largest share of the market in 2020 and is expected to grow at a significant rate due to the growing incidence of cognitive impairment, escalating levels of mental and physical stress, and growing apprehension about the benefits of supplements in the area.
- Asia Pacific is expected to expand at a CAGR of 10.6% during the estimated period due to the growing understanding of mental health issues, the increasing availability of supplements, and the rapid expansion of the health care industry. e-commerce in the region.
- The major players operating in the market are Natural Factors Nutritional Products Ltd., Teva Pharmaceutical Industries Ltd., Peak Nootropics, HVMN Inc., Onnit Labs, Inc., AlternaScript, Quincy Bioscience, Reckitt Benckiser Group Plc and Purelife Bioscience Co., Ltd . ., among others.
- In August 2020, Elysium Health, in association with researchers at the University of Oxford, introduced a brain health supplement, ‘MATTER’, which helps reduce the development of brain atrophy associated with age-related amnesia.
- In February 2021, GoBiotix introduced a natural nootropic supplement for brain health called Focus 8 Mushroom Supplement Complex which increases energy, memory, focus and mental clarity.
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For the purpose of this report, reports and data have segmented the global brain health supplements market on the basis of product type, application, supplement type, age group, sales channel and the region:
Outlook Product Type (Revenue, USD Billion; 2020-2028)
- Herbal extract
- Vitamins and minerals
- Natural Molecules
Application Outlook (Revenue, USD Billion; 2020-2028)
- Improved memory
- Depression and mood
- Attention and concentration
- Sleep and recovery
- Stress and anxiety
- Anti-aging and longevity
Supplement Type Outlook (Revenue, USD Billion; 2020-2028)
Age group (revenue, billion USD; 2020-2028)
Sales Channel Outlook (Revenue, USD Billion; 2020-2028)
- Pharmacies and pharmacies
- In line
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Regional Outlook (Revenue, USD Billion; 2020-2028)
- North America
- The rest of europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- South Africa
- Rest of the MEA
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