Global Brain Health Supplements Market, By Product (Herbal Extracts, Vitamins and Minerals, Natural Molecules), Application (Memory Enhancement, Mood and Depression, Attention and Focus, Longevity and Anti-aging, Sleep and Recovery and Anxiety), Supplement Form (Tablets, Capsules and Others), Age Group(Children, Adults and Elderly),Sale Channel (Supermarkets and Hypermarkets, Drug Stores, Online Stores and others), By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) Trend Analysis, Competitive Market Share & Forecast, 2021-2027

Published:
June 2021
Report Code:
bwc20377
Available Format:
PDF PDF Icon
Pages:
154

brain health supplements market report

Global Brain Health Supplements Market Size - Industry Trends & Forecast Report 2027

The Global Brain Health Supplements Market was worth USD 7.1 Billion in 2020 and is further projected to reach USD 11.9 Billion by 2027, at a CAGR of 7.75 % during 2021-2027 (forecast period). Supplements, which are used to support brain function like improving memory concentration, imagination, and mood elevation in humans, are known as brain supplements. The market for brain health supplements is expected to grow due to an increase in the demand for e-commerce websites. The growing awareness regarding memory improvement among students, as well as the rise in mental disorders, particularly among the older population, who are more vulnerable to mental illnesses like Alzheimer's, depression, and memory loss, are driving the growth of the brain supplement market.



Source: BlueWeave Consulting

 

Global Brain Health Supplements Market Overview:

Supplements are products that are primarily used to improve any type of nutritional deficiency in the human body. Similarly, brain health supplements play a vital part in maintaining the health of the human brain. Vitamins and nutritional benefits of brain health supplements help in reducing stress, balancing concentration level, and elevating mood besides offering protection from anxiety and depression. Moreover, stress and anxiety have become a part and parcel of the urban lifestyle. These factors make the brain supplement a great lifestyle product. Brain health supplements can be taken in the form of tablets, capsules, and others.

 

Global Brain Health Supplements Market Forecast and Trends

Growth Drivers

Increasing prevalence of mental health disorders

According to the WHO’s World Health Report, 2001, approximately 450 million people are affected by mental disorders, which are among the primary causes of illness and disability globally. The geriatric population suffering from mental diseases like Alzheimer’s, depression, and anxiety is one of the primary factors driving the growth of the brain health supplements market. Because of the rise in chronic mental disorders, people are becoming more aware of such products. Moreover, their easy availability in the market is playing a great role in driving the acceptance of brain health supplements among the masses.

 

Rising concern about healthy lifestyle

Increasing concern of population about leading a healthy and balanced life—both physically and mentally is expected to drive the market growth. Brain health supplements help in increasing awareness, and therefore such supplements are highly preferred by parents for enhancing their child’s potential. Furthermore, brain health supplements are employed by various people to maintain appropriate mental function, which is unquestionably a crucial job to live a decent life. Furthermore, the geriatric population prefers to consume brain supplements due to mental issues that arise as a result of old age.

 

Restraints

Lack of Strict Regulations

There are no specific regulations governing the production of supplements. Furthermore, many false claims about product performance are limiting the global expansion of the brain supplement market. Manufacturing businesses are unreservedly launching their products without any stringent regulatory authorization due to a lack of restrictions, which might lead to an increase in the number of misleading and false claiming products. This will reduce consumer trust in such businesses, limiting the market growth for brain health products.

 

Impact of COVID-19 in the industry

The outbreak of COVID-19 has affected almost every industry; however, the COVID-19 pandemic has been a major motivating factor for the growth of the brain health supplements market.  As a result of social isolation and its consequences, many people suffered from mental health illnesses such as depression and anxiety throughout the pandemic. As a result, the demand for brain supplements increased significantly throughout the lockdown period. Furthermore, the ease with which over-the-counter products can be purchased in both online and offline stores is driving the market growth. As a result, the pandemic has helped this industry by increasing the demand for brain health supplements.

 

Global Brain Health Supplements Market: By Application

Based on application, the global brain health supplements market is grouped into Memory Enhancement, Mood and Depression, Attention and Focus, Longevity and Anti-aging, Sleep and Recovery, Anxiety.  The memory enhancement segment held the largest share in 2020. The rising awareness regarding neurological conditions among the elderly population, combined with the widespread availability of brain supplements, is driving the acceptance of memory enhancer supplements besides propelling the market forward. Furthermore, due to the rising problem of depression among young adults and women around the world, the depression and mood segment is expected to grow at a relatively high CAGR throughout the forecast period.

 

Global Brain Health Supplements Market: By Age Group

Based on age group, the global brain health supplements market is categorized into children, adults, and the elderly. Among these, the elderly segment is estimated to dominate the market growth in the coming years. This is owing to the rising cases of neurological dysfunctions and loss of neurons among the elderly population. The rising occurrences of dementia, Alzheimer’s disease, and other disorders among geriatric population and the desire to increase brain power among adult and the younger population is contributing to the growth of the brain supplements market.

 

Global Brain Health Supplements Market: By Sales Channel

Based on sales channel, the global brain health supplements market is categorized into 

Supermarkets and Hypermarkets, Drug Stores, Online Stores, and others. Out of these, the largest share has been occupied by online stores. The online stores' segment is also estimated to dominate the growth of the market due to the availability of a variety of products over online sale channels. These online sites are providing large variations in prices, introducing product launches and a wide product portfolio, which has increased their popularity, thereby positively influencing the growth of the brain health supplements market. This segment is composed to observe noticeable growth in the coming time due to the start of online shopping.

 

Global Brain Health Supplements Market – Regional Insights

Based on region, the global brain health supplements market is divided into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America dominates the market share and is expected to be at the top even during the forecast period. The market for brain supplements in North America is growing due to an increase in the number of cases of cognitive disabilities and increased levels of mental stress among people in the region. In addition, the region's growing awareness regarding the benefits of supplements is aiding the industry's growth. On the other hand,  the Asia Pacific is also gearing up to witness a high CAGR during the forecast period. The increasing awareness of mental health disorders among the population, the easy availability of brain health supplements, and the growing purchasing power of consumers in this region are all factors contributing to the growth of the APAC market.



Source: BlueWeave Consulting


Recent Developments

·         In February 2021, GoBiotix, prominent health, and wellness brand introduced a new product, the Focus 8 Mushroom Supplement Complex, which is a natural nootropic brain supplement that essentially enhances energy, memory, focus, and mental clarity.

·         In April 2021, Unilever announced that it has signed an agreement to acquire Onnit, a holistic wellness and lifestyle company, based in Austin, Texas (US).

 

Competitive Landscape

Key players in the global brain health supplements market are Accelerated Intelligence Inc., AlternaScript, LLC, HVMN Inc., Liquid Health, Inc., Aurobindo Pharma Limited, Natural Factors Nutritional Products Ltd., Onnit Labs, LLC, KeyView Labs, Inc., Purelife Bioscience Co., Ltd., and Quincy Bioscience and other key manufacturers.

 

The key market players are consistently engaging in various strategic initiatives such as mergers and acquisitions, collaboration, and product launches to expand their commercial footprint. The major global players have a wide reach and great consumer brand awareness, which provides them with a competitive advantage.

 

Scope

Attribute

Details

Years Considered

Historical data – 2017-2020

Base Year – 2020

Forecast – 2021 – 2027

Facts Covered

Revenue in USD Million

Market Coverage

U.S, Canada, Germany, UK, France, Italy, Spain, Brazil, Mexico, Japan, South Korea, China, India, Argentina, AUAE, South Africa, Saudi Arabia

Product/Service Segmentation

By Product, By Application, By Supplement Form, By Age Group, By Sales channel, By Region

Key Players

Key players for global brain health supplements market are Accelerated Intelligence Inc., AlternaScript, LLC, HVMN Inc., Liquid Health, Inc., Aurobindo Pharma Limited, Natural Factors Nutritional Products Ltd., Onnit Labs, LLC, KeyView Labs, Inc., Purelife Bioscience Co., Ltd., and Quincy Bioscience and other key manufacturers.

           

 

·         By Product

o    Herbal Extracts

o    Vitamins and Minerals

o    Natural Molecules

·         By Application

o    Memory Enhancement

o    Mood and Depression

o    Attention and Focus

o    Longevity and Anti-aging

o    Sleep and Recovery

o    Anxiety  

·         By Supplement Form

o    Tablets

o    Capsules

o    Others  

·         By Age Group

o    Children

o    Adults

o    Elderly

·         By Sales channel

o    Supermarkets and Hypermarkets

o    Drug Stores

o    Online Stores

o    Others

·         By Region

o    North America

o    Latin America

o    Europe

o    Asia Pacific

o    Middle East

o    Africa

 

 

FAQs

1.    What is the current size of the global brain health supplements market?

Answer: Global brain health supplements market has reached USD 7.1 Billion in 2020.

2.    What are the major factors driving the growth of the global brain health supplements market?

Answer: The brain health supplements market is anticipated to grow due to the rise in the rapid demand for e-commerce websites. The rise in awareness about memory enhancement among the students and increasing mental disorders especially among the geriatric population who are more prone to these mental illnesses like Alzheimer's, depression, memory loss are influencing the growth of the brain supplements market.

 

3. Who are the key players in the global brain health supplements market?

Answer: The key players in the global brain health supplements market are Accelerated Intelligence Inc., AlternaScript, LLC, HVMN Inc., Liquid Health, Inc., Aurobindo Pharma Limited, Natural Factors Nutritional Products Ltd., Onnit Labs, LLC, KeyView Labs, Inc., Purelife Bioscience Co., Ltd., and Quincy Bioscience, and other key manufacturers.

4. Which sale channel segment accounted for the largest share in the global brain health supplements market?

Answer: Online stores segment, by sale channel. accounted for the largest share in the global brain health supplements market.

5. Which application segment accounted for the largest share in the global brain health supplements market?

Answer: The memory enhancement segment is growing at a higher rate in the global brain health supplements market.











COVID-19

We've been tracking the direct impact of COVID-19 on this market, and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Contact our sales team for more details at

Contact Now

WHY CHOOSE US

  • 24/7 Research support

    Get your queries resolved from an industry expert. Request for a free product review before report purchase.

  • Coustom Research Service

    Ask the Analyst to customize an exclusive study to serve your research needs.

  • Quality & Accuracy

    offers best quality reports based on various authentic and accurate data findings.

  • Data Visualization

    As the business world is changing dynamically every day. We need to stay pin point in relation to data management and optimum data utilization

  • Information security

    We never share your personal and confidential information. Your personal information is safe and secure with us.