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$15 Billion Worldwide Brain Health Supplements Industry to 2028 - Higher Consumer Acceptance of Supplements is Driving Growth
Dublin, Nov. 15, 2022 (GLOBE NEWSWIRE) -- The "Global Brain Health Supplements Market Size, Segments, Outlook, and Revenue Forecast 2022-2028 by Product, Supplement Form, Application, Age Group, Distribution Channel Region" report has been added to ResearchAndMarkets.com's offering.
According to this analysis, the Global Brain Health Supplements Market was valued at ~US$ 5 billion in 2017. It is estimated to be ~US$ 8 billion in 2022 and is expected to reach a market size of ~US$ 15 billion by 2028 growing at a CAGR of ~10% during 2022-2028.
The market is anticipated to grow significantly throughout the projected period as a result of the higher acceptance of such supplements is a result of consumers' significant change toward proactively addressing their health and wellness and their commitment to enhancing their brain health and general longevity to boost concentration and focus.
Brain health supplements can assist improve brain function such as focus, reduce stress, prevent anxiety, dementia, and depression, improve human memory, encourage good attitudes and thought processes, make people enthusiastic, and improve such key areas of human functioning.
The rise in R&D activity in herbal ingredients is the key driver of the rising demand for brain health supplements worldwide. Organic medicines or supplements have a variety of health advantages. As a result, the market's expansion is impacted by the rise in the number of significant companies creating brain health supplements.
The market for brain health supplements is predicted to be constrained by factors such as consumer misunderstanding of the product's availability, the cost of the supplements, and the fact that people in developing nations do not consider them as an absolute necessity.
The market for brain health supplements has grown favorably as a result of the COVID-19 pandemic. The deterioration of mental and emotional conditions has resulted in a rise in demand for such products. Due to the uncertainties surrounding the rising number of COVID-19 cases globally, people are constantly becoming more prepared to spend money on brain supplement products.
Key Trends by Market Segment
By Product- Natural Molecules dominated the market in 2021, due acceptance of brain supplements created with natural and organic ingredients as opposed to supplements made with synthetic ingredients.
This market's expansion is anticipated to be aided by the growing preference for brain supplements manufactured from natural ingredients over synthetic ones. Additionally, businesses are emphasizing the use of natural ingredients in their products
The simple accessibility and affordability of the products are credited with the segment's growth. These products' natural components, such as acetyl-L-carnitine, huperzine-A, and omega-3 fatty acids, aid in enhancing attention and reducing stress, anxiety, and depression
By Age Group- Adult's segment dominated the market during the forecast period due to the rising number of adults who started taking supplements for brain health to maintain normal brain function.
According to U.S. Census Bureau statistics in 2021, there were more than 54 million adults in the country who are 65 years of age or older and accounted for 16.5% of the population of the country
According to the United Nations Population Fund (UNFPA) Asia and the Pacific reported that in 2021 one in four individuals would be older than 60 by 2050. Between 2010 and 2050, the number of senior people (those over 60) in the region will quadruple, growing to around 1.3 billion
By Supplement Form - The capsule segment dominated the market during 2021, due to the simplicity of formulation development.
Due to the simplicity of formulation development and progress in the pharmaceutical industries to produce safe and efficient supplement forms, the capsules segment dominated the market, and this trend is anticipated to persist during the forecast period
By Distribution Channel- Drug stores dominated the market in 2021, owing to the rise in number of government authorize drug stores in USA. They are likely continue dominance during the forecast period, however Online Stores channel is gaining prominence.
By Application- Memory Enhancement segment accounted for the largest market share in 2021, owing to naturally derived brain health supplements preventing anxiety and memory loss concerns.
The millennial generation is engaging in a broad range of activities outside their primary occupation, such as adventure sports, social events, and part-time work, which needs them to be intellectually awake throughout the day
Therefore, it is anticipated that changing consumer habits will increase demand for such products
By Geography:
North Americaaccounted for the largest market share among all regions in 2021, owing to the demand for such products rising as a result of people's increased attention to mental health issues.
Most of this is attributed to expanding concerns regarding cognitive and brain health as well as the existence of important players in the region. In addition, given many activities need intense concentration, the thriving sports, and fitness sector is to blame for the region's leading market share.
According to data from the National Library of Medicine, USA published in April 2020, about a quarter of American adults (24 and older) regularly take nutritional supplements that boost their energy, mental clarity, and performance. Such development is likely to accelerate the country's market expansion.
Competitive Landscape
The Global Brain Health Supplements Market is highly competitive with ~150 players which include globally diversified players, regional players as well as a large number of country-niche players each with their niche in Brain Health Supplements. Large global players constitute ~25% of competitors, while regional players represent the largest number of competitors. Some of the major players in the market include Accelerated Intelligence Inc., AlternaScript LLC.
Aurobindo Pharma Limited, HVMN Inc., Procera Health/KeyView Labs, Inc., Liquid Health, Inc, Natural Factors Nutritional Products Ltd., Onnit Labs, LLC. Purelife Bioscience Co, Ltd, Quincy Bioscience, LLC., and others.
Key Topics Covered:
1. Executive Summary
1.1 Highlights of Global Brain Health Supplements Market Historic Growth & Forecast
1.2 Highlights of Market Trends, Challenges, and Competition
1.3 Highlights of Market Revenue Share by Segments
2. Market Overview and Key Trends Impacting Growth
2.1 Global Brain Health Supplements Market Taxonomy
2.2 Application Value Chain
2.3 The Ecosystem of Major Entities in the Global Brain Health Supplements Market
2.4 Government Regulations & Developments
2.5 Key Growth Drivers & Challenges Impacting the Market
2.6 COVID-19 Impact on Global Brain Health Supplements Market
2.7 Total Global Brain Health Supplements Market Historic Growth by Segment Type, 2017-2021
2.7.1 By Product
2.7.2 By Supplement Form
2.7.3 By Application
2.7.4 By Age Group
2.7.5 By Distribution Channel
2.7.6 By Regions
2.8 Total Global Brain Health Supplements Market Historic & Forecast Growth, 2017-2028
2.9 Key Takeaways
3. Total Global - Market Segmentation by Product, Historic Growth, Outlook & Forecasts
3.1 Market Definition - Segmentation by Product
3.2 Market Revenue Share, Historic Growth, Outlook, and Forecasts by Product, 2017-2028
3.2.1 Herbal Extract
3.2.2 Vitamins & Minerals
3.2.3 Natural Molecules
3.3 Key Takeaways from Market Segmentation by Product
4. Total Global - Market Segmentation by Supplement Form, Historic Growth, Outlook & Forecasts
4.1 Market Definition - Segmentation by Supplement Form
4.2 Market Revenue Share, Historic Growth, Outlook, and Forecasts by Supplement Form, 2017-2028
4.2.1 Tablets
4.2.2 Capsules
4.2.3 Others
4.3 Key Takeaways from Market Segmentation by Supplement Form
5. Total Global - Market Segmentation by Age Group, Historic Growth, Outlook & Forecasts
5.1 Market Definition - Segmentation by Application
5.2 Market Revenue Share, Historic Growth, Outlook, and Forecasts by Age Group, 2017-2028
5.2.1 Children
5.2.2 Adults
5.2.3 Elderly
5.3 Key Takeaways from Market Segmentation by Age Group
6. Total Global - Market Segmentation by Distribution Channel, Historic Growth, Outlook & Forecasts
6.1 Market Definition - Segmentation by Distribution Channel
6.2 Market Revenue Share, Historic Growth, Outlook, and Forecasts by Distribution Channel, 2017-2028
6.2.1 Supermarkets & Hypermarkets
6.2.2 Drug Stores
6.2.3 Online Stores
6.2.4 Others
6.3 Key Takeaways from Market Segmentation by Distribution Channel
7. Total Global - Market Segmentation by Application, Historic Growth, Outlook & Forecasts
7.1 Market Definition - Segmentation by Application
7.2 Market Revenue Share, Historic Growth, Outlook, and Forecasts by Application, 2017-2028
7.2.1 Memory Enhancement
7.2.2 Attention & Focus
7.2.3 Mood & Depression
7.2.4 Sleep & Recovery
7.2.5 Longevity & Anti-Aging
7.2.6 Stress & Anxiety
7.3 Key Takeaways from Market Segmentation by Application
8. Application/Competition Analysis - Competitive Landscape
8.1 Types of Players (Competitors) & Share of Competition
8.2 Porter's 5 Forces Analysis of Global Brain Health Supplements Competitors
8.3 Key Developments in the Global Brain Health Supplements Sector Impacting Market Growth
8.4 Comparison of Leading Competitors within the Global Brain Health Supplements Market, 2021
8.5 Comparison of Leading Competitors within the Global Brain Health Supplements Market by Coverage of Product, 2021
8.6 Comparison of Leading Competitors within the Global Brain Health Supplements Market by Coverage of Supplement Form, 2021
8.7 Comparison of Leading Competitors within the Global Brain Health Supplements Market by Coverage of Age Group, 2021
8.8 Comparison of Leading Competitors within the Global Brain Health Supplements Market by Coverage of Distribution Channel, 2021
8.9 Comparison of Leading Competitors within the Global Brain Health Supplements Market by Coverage of Application, 2021
8.10 Comparison of Leading Competitors within the Global Brain Health Supplements Market by Coverage of Regions, 2021
8.11 Key Takeaways from Competitive Landscape
9. Key Competitor Profiles (Company Overview, Product Offerings, Strength & Weakness of Key Competitors)
9.1 Accelerated Intelligence Inc.
9.2 AlternaScript LLC
9.3 Aurobindo Pharma Limited
9.4 HVMN Inc.
9.5 Procera Health/KeyView Labs, Inc.
9.6 Liquid Health, Inc
9.7 Natural Factors Nutritional Products Ltd.
9.8 Onnit Labs, LLC.
9.9 Purelife Bioscience Co, Ltd
9.10 Quincy Bioscience, LLC.
10. Geographic Analysis & Major Region Market Historic Growth, Outlook, and Forecasts
11. Application Expert's Opinions/Perspectives
11.1 Notable Statements/Quotes from Application Experts and C-Level Executives on Current Status and Future Outlook of the Market
12. Analyst Recommendation
12.1 Analyst Recommendations on Identified Major Opportunities and Potential Strategies to Gain from Opportunities
13. Appendix
For more information about this report visit https://www.researchandmarkets.com/r/xfbj4r
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