New York, USA, June 08, 2023 (GLOBE NEWSWIRE) — Brain Health Supplements Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Brain Health Supplements Market Information By Product, Application and Region – Forecast till 2032”, the market is projected to grow from USD 9.9 Billion in 2023 to USD 27.6 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 13.70% during the forecast period (2023 – 2032).
Brain Health Supplements Market Trends
The primary market factors accelerating market expansion include increased consumer awareness of mental health issues and rising use of natural and herbal health products.
In addition to being important as you become older, cognitive health is important whenever you want to have more energy, clarity, and attention. While experts concur that a healthy diet and way of life are two crucial elements for brain health, research indicates that some supplements may also be able to promote cognitive and mental health, particularly for older folks, those on limited diets, and those managing medical conditions. Beyond providing energy for the body and brain during the day, nutrition has an impact on cognitive health. The nutrients in your diet have an impact on how your brain works and can affect your risk of developing neurodegenerative diseases.
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The change is a result of a deeper understanding of mental health issues like difficulty focusing, memory loss, anxiety, and depression. The business is also expected to grow during the forecast period as demand for natural and herbal health products increases. The increased demand for multi-effective drugs that may treat anxiety, boost energy, alleviate depression, and enhance brain function is expected to increase R&D activities in this industry. Additionally, the sports industry’s increased need to improve athletes’ brain performance is predicted to lead to market growth on a global scale. People associated to the academic and professional spheres are expected to contribute to the demand for supplements for brain health during the next years. Additionally, people who suffer from a number of mental diseases, such as depression, dementia, anxiety, and sleeplessness, to name a few, are likely to appreciate these goods.
These drugs are also used to treat various age-related and cognitive problems like hyperactivity, as well as Parkinson’s disease. As public awareness of mental health and cognitive growth increases, it is predicted that the market for supplements supporting brain health will grow. The market penetration for supplements enhancing memory and brain health peaked in 2022. As competition across academic and professional fields has increased, these elements have been growing. Additionally, the ageing population’s increasing need for memory improvement was a factor in the development of such supplements.
The World Health Organisation (WHO) estimated that 280 million people worldwide, of all ages, suffered from depression in September 2021. In the US, anxiety disorders are among the most common mental illnesses. In a survey published in October 2022 by the Anxiety & Depression Association of America, 40 million adult Americans, or roughly 19.1% of the population, reported having anxiety or depression.
Growing public awareness of mental illnesses is predicted to broaden the spectrum of uses for supplements for brain health in the near future.
|Market Size in 2032||USD 27.6 Billion|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Product and Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Market Drivers||Rising awareness regarding mental health issues|
|increasing adoption of natural and herbal health products|
Key Companies in the Brain Health Supplements market include
- Natural Factors Nutritional Products Ltd
- Onnit Labs, Inc.
- Purelife Bioscience Co., Ltd
- Intelligent Labs
- Accelerated Intelligence Inc.
- NOW Foods
- HVMN Inc.
- Teva Pharmaceutical Industries Ltd.
- Peak Nootropics
Brain Health Supplements Market Segmentation
The market for brain health supplements is divided into segments based on product, application, and geography.
Natural molecules, herbal extract, and vitamins & minerals are among the product categories that make up the segmentation of the brain health supplements market. In 2022, the category for herbal extracts had the most market share. According to a 2022 study from the World Health Organisation, around 80% of the world’s population uses traditional medicine to treat their most fundamental health conditions.
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According to Application, the market for brain health supplements is divided into memory improvement, attention and focus, depression and mood, sleep and recuperation, anti-aging and longevity, and stress and anxiety.
The memory improvement category had a bigger market share in 2022.
The analysis offers market insights for North America, Europe, Asia-Pacific, and the rest of the world, by region. In 2022, this market was dominated by the North America Brain Health Supplements Market (45.80%). In North America, the demand from consumers for products that improve cognitive health has significantly increased in recent years. The rise in health consciousness, especially among young people, has spurred this need. According to a June 2019 poll on brain health and dietary supplements by the American Association of Retired Persons (AARP), Americans aged 50 and older regularly consume significant amounts of brain health supplements due to growing worries over their brain and cognitive health.
In addition, the North American region’s Brain Health Supplements market in the U.S. had the biggest market share, while the market in Canada had the fastest rate of expansion.
From 2023 to 2032, the market for brain health supplements in Asia-Pacific is anticipated to develop at the quickest rate. The market for brain supplements has shown exceptional penetration in the Asia Pacific region, particularly in China, India, and Japan, due to rising consumer awareness of the benefits of these supplements, a growing preference for natural supplements over pharmaceuticals, and an increase in the incidence of Alzheimer’s disease. Additionally, the Indian market for brain health supplements was expanding at the quickest rate in the Asia-Pacific region, while China’s market for these supplements had the biggest market share.
Leading market players are making significant investments in R&D to diversify their product offerings, which will drive the Brain Health Supplements market’s expansion. Important market developments include new product releases, contractual agreements, mergers and acquisitions, greater investments, and collaboration with other organisations. Market participants are also engaging in a number of strategic actions to increase their global footprint. The Brain Health Supplements sector must provide affordable products if it is to grow and thrive in an increasingly competitive and challenging market environment.
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