Brain Health Supplements Market to Witness Growth at 8.3% CAGR During the Forecast Period 2022-2030

Posted on 2023-02-08 by researchinsights in Healthcare // 0 Comments

San Francisco, California , USA, Feb 09, 2023 — /EPR Network/ —

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.

Gather more insights about the market drivers, restrains and growth of the Global Brain Health Supplements Market

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.

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 R&D 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.

Browse through Grand View Research’s Consumer F&B Industry Research Reports.

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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
- Europe
- Asia Pacific
- Central & South America
- Middle East & Africa (MEA)

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
AlternaScript
Natural Factors Nutritional Products Ltd.
Reckitt Benckiser Group plc.
Onnit Labs, Inc.
NOW Foods

Order a free sample PDF of the Brain Health Supplements Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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