PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1270347
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1270347
Brain health supplement Market size was valued at USD 8,507.3 Million in 2022, expanding at a CAGR of 14.8% from 2023 to 2030.
Supplements that enhance brain performance in healthy people are referred to as brain health supplements. Additionally, it boosts the brain's general cognitive function as well as memory, motivation, creativity, attentiveness, and inspiration.
Brain health supplement Market- Market Dynamics
The market for brain health supplements is anticipated to expand in the future due to an increase in the prevalence of brain diseases. Brain disorders are disabilities that impact the brain and are referred to as brain diseases. Supplementing with essential nutrients like long-chain polyunsaturated fatty acids, vitamin E, and mineral elements may help to lower risk, reduce inflammation, and enhance the body's ability to fight off free radicals. For instance, a report published in October 2022 by the BrightFocus Foundation, a US-based non-profit group, predicted that every year, about 500k new cases of Alzheimer's disease would be discovered in the country. 5% of people 65 to 74, 13% of people 75 to 84, and 33% of people 85 and later are affected by Alzheimer's dementia. As a result, the market for supplements supporting brain health is expanding due to a rise in the prevalence of brain diseases.
Product innovation is a crucial trend that is getting traction in the market for supplements for brain health. To maintain their leadership positions in the market for brain health supplements, major companies are creating cutting-edge products. For instance, the US-based pharmaceutical firm Cosmos Holdings introduced Proprietary Sky Premium Life Brainlit in March 2022. It is a cutting-edge formula designed to preserve and improve brain function. Despite a sizable unmet demand for effective treatment alternatives, conditions like Alzheimer's disease and other forms of dementia, Parkinson's disease, depression, and anxiety have all been on the increase recently. Ginkgo biloba, glutamine, L-tyrosine, and other essential vitamins and minerals are included in the Brainlit dietary supplement, which is made with the highest quality raw materials.
The Global Brain health supplement segmented into product, application, supplement form, sales channel, age group and Region.
Based on the product, the Herbal Extracts segment dominated the global industry in 2022. The demand for herbal extract supplements for mental health will increase as people's preferences for herbal products rise in developing countries like China and India. Around 80% of the world's population uses traditional medicine to treat their most basic health issues, according to a 2022 study from the World Health Organization. On the other hand, the vitamins & minerals segment is expected to grow at the substantial rate over the forecast period. The demand for this market is predicted to rise as knowledge of the advantages of vitamins and minerals grows. It is well known that vitamins and minerals are essential in avoiding age-related cognitive decline as well as developmental disorders like Alzheimer's and dementia.
Brain health supplement Market- Geographical Insights
Regionally, North America is market accounted for the largest market share in 2022 and is expected to dominate during the forecast period. The growth in reason is mainly due to rise in the prevalence of brain diseases. Additionally, the development of the market in this region would also be aided by rising awareness of brain disorder and the availability of a robust healthcare infrastructure. Besides, the Asia Pacific is expected to grow at the highest CAGR over the forecast period owing to the growing awareness regarding these products especially in the countries like India and China. Moreover, increasing preference for herbal supplements over prescription drugs and an increase in Alzheimer's cases.
In September 2021, Bennett's Choice was acquired by the Canadian biotechnology firm HAVN Life Sciences. The range of natural health products now includes a unique and outstanding collection of patented formulas as a result of this acquisition. Bennett's Choice is a Canadian business that creates dietary supplements.
In June 2020, in partnership with the University of Oxford, Elysium Health, Inc. released a longevity supplement for mental health on the market. The supplement is made up of a formulation of particular B vitamins that was created in a clinical setting to slow brain shrinkage and age-related memory loss. Additionally, it contains a bilberry extract rich in anthocyanins to provide complementary cognitive benefits and a powdered omega-3 lysine complex with better bioavailability to increase the efficiency of the B-vitamin complex.
This proposed research study on Brain health supplement market provides market size (US$ million), compound annual growth rate (CAGR %) and forecast estimation (2023-2030), considering 2022 as the base year
The research report elucidates potential growth opportunities across different segments/countries and explains attractive investment proposition matrix for Brain health supplement market
The overall report identifies new investment opportunities, challenges faced by established players, and growth factors to sustain in the Brain health supplement market
Impact of COVID-19 on Brain health supplement market size, forecast, CAGR, and market dynamics are discussed in detail under the research scope. Detailed insight on Brain health supplement market post-COVID will also be covered.
In order to give the users of this report a comprehensive view on the Brain health supplement market, we have also included competitive landscape and key innovator analysis for the Brain health supplement market.
The study encompasses a growth prospect mapping analysis, wherein all the industry segments are benchmarked based on their market size, growth rate and attractiveness.
The report offers detailed company profiling featuring major market participants which will help users to understand their financial information and strategic initiatives of players operating in the Brain health supplement market.
In addition, the report also unveil the important acquisitions & mergers, collaborations & joint ventures, new launch, research & development, regional expansion of major participants involved in the market on global as well as regional level.
The global Brain health supplement market report primarily caters to various stakeholders in this industry including suppliers, investors, new entrants, distributors, and financial analysts
GLOBAL BRAIN HEALTH SUPPLEMENT MARKET KEY PLAYERS
DSM
Farbest Brands
SternVitamin GmbH & Co. KG
Adisseo
BTSA Biotechnologias Aplicadas S.L.
Rabar Pty Ltd
AlternaScript LLC
Natroll, LLC
BASF SE
Lonza Group
Glanbia Plc
ADM
HVMN Inc
GLOBAL BRAIN HEALTH SUPPLEMENT MARKET, BY PRODUCT
Herbal Extract
Vitamins & Minerals
Natural Molecules
GLOBAL BRAIN HEALTH SUPPLEMENT MARKET, BY APPLICATION
Memory Enhancement
Mood & Depression
Attention & Focus
Longevity & Anti-aging
Sleep & Recovery
Anxiety
GLOBAL BRAIN HEALTH SUPPLEMENT MARKET, BY SUPPLEMENT FORM
Tablets
Capsules
Others
GLOBAL BRAIN HEALTH SUPPLEMENT MARKET, BY SALES CHANNEL
Supermarkets & Hypermarkets
Drug Stores
Online Stores
Others
GLOBAL BRAIN HEALTH SUPPLEMENT MARKET, BY AGE GROUP
Children
Adults
Elderly
GLOBAL BRAIN HEALTH SUPPLEMENT MARKET, BY REGION
North America
The U.S.
Canada
Europe
Germany
France
Italy
Spain
United Kingdom
Russia
Netherlands
Sweden
Poland
Rest of Europe
Asia Pacific
India
China
South Korea
Japan
Australia
Thailand
Indonesia
Philippines
Rest of APAC
Latin America
Brazil
Mexico
Argentina
Colombia
Rest of LATAM
The Middle East and Africa
Saudi Arabia
United Arab Emirates
Israel
Turkey
Algeria
Egypt
Rest of MEA