Brain Health Supplement Market Forecasts to 2030 - Global Analysis By Product (Vitamins & Minerals, Herbal Extract, Natural Molecules and Other Products), Supplement Form, Age Group, Application, Distribution Channel and By Geography

According to Stratistics MRC, the Global Brain Health Supplement Market is accounted for $8.5 billion in 2023 and is expected to reach $18.6 billion by 2030 growing at a CAGR of 11.9% during the forecast period. Dietary supplements that assist or improve memory, attention, and other aspects of cognitive functioning include brain health supplements. A wide range of components, including vitamins, minerals, herbs, amino acids, and other substances thought to support brain function, may be present in these supplements. Omega-3 fatty acids, antioxidants, vitamins (such the B vitamins), minerals (like magnesium), herbal extracts (like ginkgo biloba), and nootropics (like piracetam or bacopa monnieri) are frequently included in supplements for brain health. The market's expansion has been fueled by rising consumer awareness of the value of brain health and the possible advantages of supplements.

According to an article by the World Health Organization (WHO), in September 2021, approximately 280 million people of all ages suffered from depression globally. In the U.S., anxiety disorder is one of the most common mental illnesses.

Market Dynamics:

Driver:

Increasing awareness of issues related to mental health

The increased interest in goods that can support and enhance cognitive function and emotional well-being is a result of growing awareness of mental health issues. As a result, there has been a noticeable increase in demand for supplements for brain health. Moreover, the stigma attached to mental health issues has diminished as a result of campaigns to increase public understanding of the subject. Nowadays, more people are willing to talk about and look for answers for problems with mental health, including cognitive and emotional wellbeing thus enhancing the market.

Restraint:

Risk of potential side effects and drug interactions

Consumers may get worried about potential negative effects and interactions. Worries about possible side effects may prevent some people from using brain health supplements, especially if they are on other drugs or have underlying medical issues. Supplements for brain health can interact with prescription drugs, thereby reducing their benefits or leading to negative side effects. People with chronic medical disorders are highly prone to the adverse effects of the supplements which negatively impact the growth of the market.

Opportunity:

Increased stress and mental health concerns

The demand for goods that promote stress management and relaxation has increased as stress levels have increased. It has become common to take supplements for brain health that contain components like adaptogens (such ashwagandha and rhodiola) and plants with soothing effects (like lavender). Consumers have turned to products that might aid with mental health issues including anxiety and mood disorders. Manufacturers frequently promote the stress reduction, mood enhancement, and improved cognitive function under stress benefits of their products for brain health. Effective marketing efforts highlight the advantages that these items may provide.

Threat:

Poor product quality and lack of standardisation

Products of low quality or with insufficient standardization might endanger consumer safety. Inadequate component levels, impurities, or contaminants can have negative consequences and pose health hazards. Supplements with poor quality control are more likely to include pollutants such heavy metals, herbicides, and microbiological infections. Consumers may have major health concerns in light of this. When low-quality or non-standardized items are exposed, regulatory agencies and consumer protection groups may enhance their inspection of the industry. Increased scrutiny and restrictions may follow as a result.

COVID-19 Impact

People's understanding of health and wellbeing has increased as a result of the pandemic. Many people are now more aware of the value of keeping a robust immune system and general health due to the threat of a novel virus. Supplements for mental and cognitive health have become more popular as a result of this greater emphasis on health and wellbeing. Many people have been looking for strategies to keep or improve their cognitive function when working or studying remotely. In order to prevent businesses from making unsubstantiated claims about the prevention or treatment of COVID-19, regulatory bodies, such as the FDA in the United States, have heightened their examination of dietary supplement claims during the epidemic which has positively impacted the growth of the market.

The herbal extract segment is expected to be the largest during the forecast period

The herbal extract segment is estimated to have a lucrative growth, as these supplements are viewed as a natural and all-encompassing method of enhancing cognitive function, many customers choose them. The popularity of herbal extracts in brain health products is largely due to the notion that they are a risk-free and effect-free alternative. Traditional medical practices including Ayurveda, Traditional Chinese Medicine (TCM), and Indigenous medicine have a long history of using herbal extracts. In particular, in areas where these traditions are prevalent, this has helped to increase their reputation and use in supplements for brain health.

The memory enhancement segment is expected to have the highest CAGR during the forecast period

The memory enhancement segment is anticipated to witness the highest CAGR growth during the forecast period, due to the aging population and the need to preserve cognitive functions, particularly memory, as people age. Concerns about memory are widespread among people of all ages. This market serves a wide variety of customers, including seniors hoping to combat age-related memory loss, students and professionals looking to increase memory and focus, and anybody interested in improving their cognitive abilities. Scientific research and clinical trials are highly valued in the memory supplement market. Consumers frequently seek out goods with chemicals that have been shown in studies to have positive effects on memory.

Region with largest share:

North America is projected to hold the largest market share during the forecast period owing to the aging population and rising awareness of cognitive health. The growing emphasis on overall wellbeing and health-conscious consumers in North America, notably those in the United States and Canada, has raised public awareness of supplements for brain health. People are looking for methods to promote memory, cognitive function, and general mental health. In North America, regulatory control of dietary supplements, including supplements for brain health, is provided by agencies like the U.S. Food and Drug Administration (FDA) and Health Canada. Most of the time, these goods are subject to food or dietary supplement regulations thus driving the growth of the market in this region.

Region with highest CAGR:

Asia Pacific is projected to have the highest CAGR over the forecast period, as clinical investigations and scientific research demonstrating the effectiveness of specific compounds have an impact on the market. Consumers frequently seek for items with supporting data, and businesses may emphasize academic research to foster credibility. The varieties of brain health supplements that are popular in the area can be influenced by cultural beliefs and customs. For instance, the market is significantly shaped by Indian Ayurveda and traditional Chinese medicine. Moreover, due to shifting demographics and increased health awareness, the market for supplements supporting brain health in Asia-Pacific is expected to keep expanding. Future developments could include an emphasis on holistic wellbeing, personalized and cutting-edge brain health products, and more.

Key players in the market:

Some of the key players profiled in the Brain Health Supplement Market include: AlternaScript, Amway, Onnit labs, Cephalon, Nootrobox, Liquid Health, Inc, Aurobindo Pharma Limited, HVMN, Inc., Purelife Bioscience Co. Ltd., Quincy Bioscience, KeyView Labs, Inc, OptiMind, Accelerated Intelligence Inc, Cerebral Success, Vital Basics Inc, Natural Factors Nutritional Products Ltd, Teva Pharmaceutical Industries Ltd, Peak Nootropics, NOW Foods and Reckitt Benckiser Group Plc.

Key Developments:

In April 2023, Amway is a Sponsor and Presenter at the Joint Probiotics Symposium '23 in Tokyo, Co-Hosted by Global Engage and the Japanese Society for Probiotic Science (JSPS). Daily probiotics solutions have become an increasingly popular method of supporting gut health

In September 2022, Amway's™ Energy and Sports Nutrition brand XS™ Celebrates 20 Years of Adventure. The in-person and live-streamed birthday party invited Amway Business Owners (ABOs) and employees from around the world to participate in the festivities.

In January 2020, Aurobindo Pharma Limited is pleased to announce that its joint venture company, Eugia Pharma Specialities Limited, has received a final approval from the US Food & Drug Administration (USFDA) to manufacture and market Methotrexate tablets, 2.5 mg.

Products Covered:

• Vitamins & Minerals
• Herbal Extract
• Natural Molecules
• Other Products

Supplement Forms Covered:

• Tablets
• Capsules
• Powder
• Syrup
• Other Supplement Forms

Age Groups Covered:

• Adults
• Pediatric
• Geriatric

Applications Covered:

• Mood & Depression
• Memory Enhancement
• Attention & Focus
• Sleep & Recovery
• Stress & Anxiety
• Longevity & Anti-aging
• Other Applications

Distribution Channels Covered:

• Supermarkets and Hypermarkets
• Drug Stores
• Online Stores
• Other Distribution Channels

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

Free Customization Offerings:

All the customers of this report will be entitled to receive one of the following free customization options:

• Company Profiling
  • Comprehensive profiling of additional market players (up to 3)
  • SWOT Analysis of key players (up to 3)
• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
  • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances