Brain Health Supplements Industry Overview
The brain health supplements market size was valued at USD 7.68 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 8.3% from 2022 to 2030.
Consumers have dramatically shifted toward proactively tackling health and wellbeing and have dedicated themselves to improving their brain health and overall longevity to improve attention and focus, which has led to higher acceptance of these supplements. Proactive young consumers are seeking out cognitive health products now, including brain supplements and natural products.
The COVID-19 pandemic has had a positive impact on the market and fueled the demand for these products among consumers mainly because of the deteriorating mental and emotional state of people. Thus, consumers are increasingly spending on memory supplement products due to the uncertainty associated with the continued COVID-19 cases across the globe. During the pandemic, the supply chain has witnessed a disruption in raw material procurement as well as in the supply of finished products. Many countries have imposed a ban on the import and export of raw materials, which has hampered the production of supplements to some level.
Gather more insights about the market drivers, restrains and growth of the Global Brain Health Supplements Market
The adoption of the product among consumers in the U.S., especially millennials and the aging population, has gradually increased in recent years and is likely to continue over the forecast period as well. Supplements targeting brain health have quickly emerged in the U.S. owing to growing health-consciousness among the population. People are looking to improve the performance of the brain, enhance their focus, and relieve stress.
In the U.S., there has been a growing prevalence of Major Depressive Disorder (MDD) among adults, which is driving the demand for these supplements. As per a report published by the National Institute of Mental Health in 2019, 9.6% of females and 6.0% of males suffered from MDD. According to data published by the U.S. National Library of Medicine in April 2020, nearly 75% of the U.S. adult population consumes dietary supplements that contain vitamins, minerals, and herbal ingredients to improve brain health, energy, and performance. These trends are likely to boost the market growth in the country.
Manufacturers have been focusing on the production of various supplements that are targeted specifically at athletes who emphasize on performance enhancement and maintaining mental composure. This is expected to boost the demand for brain health supplements over the next few years. For instance, in January 2019, EXOS, a human performance company, named Onnit Labs, Inc. as its official performance nutrition partner. This partnership was aimed to bring both companies together to focus on helping the athletes better by providing appropriate nutrition products.
The market for brain health supplements is characterized by an increasing number of product launches in response to the growing demand for high-quality supplements to support and maintain brain health, enhance memory, and improve brain function. For instance, in March 2022, Cosmos Holdings, an international pharmaceutical firm, announced the launch of its luxury nutritional supplement product line - ‘Brainlit’ for brain health. The company’s RD team developed an advanced formula that is designed to support and enhance brain function as certain brain-related conditions such as Alzheimer’s, dementia, Parkinson’s, depression, and anxiety have been on the rise in recent years.
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Brain Health Supplements Market Segmentation
Grand View Research has segmented the brain health supplements market based on product, application, and region:
Brain Health Supplements Product Outlook (Revenue, USD Million, 2017 - 2030)
- Natural Molecules
- Herbal Extract
- Vitamins And Minerals
Brain Health Supplements Application Outlook (Revenue, USD Million, 2017 - 2030)
- Memory Enhancement
- Attention And Focus
- Depression And Mood
- Sleep And Recovery
- Anti-aging And Longevity
- Stress Anxiety
Brain Health Supplements Regional Outlook (Revenue, USD Million, 2017 - 2030)
- North America
- Asia Pacific
- Central South America
- Middle East Africa
Market Share Insights
- June 2021: Motiva Supplements launched - ‘Neuro Booster’, which offers higher absorption of six key functional foods, and is the first-ever clinically proven product to help improve Alzheimer’s patients and improve brain health.
- June 2020: Elysium Health, Inc. in collaboration with the University of Oxford launched Longevity supplement for brain health. The product - ‘Matter; contains a formulation of specific B vitamins that is clinically proven to slow brain atrophy associated with age-related memory loss.
Key Companies profiled:
Some prominent players in the global brain health supplements market include
- Teva Pharmaceutical Industries Ltd.
- HVMN Inc.
- Purelife Bioscience Co., Ltd.
- Peak Nootropics
- Natural Factors Nutritional Products Ltd.
- Reckitt Benckiser Group plc.
- Onnit Labs, Inc.
- NOW Foods
- Intelligent Labs
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