PUBLISHER: SkyQuest | PRODUCT CODE: 1165250
PUBLISHER: SkyQuest | PRODUCT CODE: 1165250
Global Cognition Supplements Market was valued at USD 7.68 billion in 2021, and it is anticipated to attain a value of USD 12.89 billion by 2028, at a CAGR of 7.68% over the prediction period (2022 - 2028).
Cognitive supplements are a type of nutritional supplement that aids in the improvement of the consumer's mental health. Supplements that affect cognition function directly or indirectly have a measurable impact on brain functioning when consumed. Manufacturers of cognition supplements are launching innovative products infused with new ingredients to capture the attention of consumers. For example, Jacobson Pharma Corp. Ltd. launched smartfish cognition supplements Reflect and cream for adults and children in China and Taiwan in December 2019 to improve cognitive health. The growing consumer awareness of brain health wellness has resulted in an increase in the consumption of cognition supplements. Aging is a significant risk factor for cognitive impairment and neurological disorders. The increase in the geriatric population in developed economies has also boosted the sales of cognition supplements.
Top-down and bottom-up approaches were used to estimate and validate the size of the Global Cognition Supplements Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Segments covered in this report:
The Global Cognition Supplements Market is segmented based on Product, Type, Application, Age Group, Sales Channel, and Region. Based on Product Type, it is categorized into Natural molecules, Herbal extracts, Vitamins & Minerals, Medicinal drugs. Based on Type, it is categorized into Chewable and Capsules. Based on Application, it is categorized into Memory enhancement, Mood, Depression Alleviation, Attention, Focus Improvement, Sleep, Recovery. Based on Age Group, it is categorized into Children, Adults, and Elderly. Based on Sales Channel, it is categorized into Supermarkets & Hypermarkets, Drug stores, Online stores, others. Based on the region it is categorized into: North America, Europe, Asia-Pacific, South America, and MEA.
Driver
The growing acceptability of cognition supplements has been fueled by the young generation's mental health worries about conditions like Parkinson's syndrome and Alzheimer's disease. The amelioration of diseases, adjustments in energy metabolism, and alterations in neurotransmission are some benefits of taking cognition supplements. Customers are taking cognition supplements to maintain their brain health as a result of the rising rates of insomnia, anxiety, and depression among them. The usage of cognition supplements has increased as a result of rising consumer awareness of the importance of brain wellness.
Restraint
The strict regulatory compliances on the consumption of cognition supplements are a significant factor impeding market growth. Many of the chemical constituents of the products used to formulate these supplements are unknown or vary. Pesticides and heavy metals such as mercury, lead, and arsenic have been found to be contaminated in the products, which can be harmful to health if consumed. As a result, it stifles the growth of the cognition supplement market.
Market Trends
Given that most senior individuals cannot consume enough food to satisfy their Recommended Dietary Allowances (RDA), there is an increase in dietary supplements, particularly supplements for cognition. This has provided a number of opportunities for makers of dietary supplements. Furthermore, a lot of businesses have entered the vitamin, mineral, and botanical divisions of the market under examination due to the rising relevance of health as a lifestyle choice.