IMARC Group, a leading market research company, has recently released a report titled "Brain Health Supplements Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028." The study provides a detailed analysis of the industry, including the global brain health supplements market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
What Are The Growth Prospects Of The Brain Health Supplements Industry?
According to the report, The global brain health supplements market size reached US$ 5.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 9.6 Billion by 2028, exhibiting a growth rate (CAGR) of 9% during 2023-2028.
What is Brain Health Supplements?
Brain health supplements are used to enhance memory, improve thinking ability, increase focus, and boost the mood of individuals. These supplements comprise vitamin B, nitrate, caffeine, gingko biloba, ginseng, adaptogenic mushrooms, and many other minerals and herbs. They are highly affordable and widely available in pills, liquid, and powder forms. They offer numerous benefits, such as enhancing concentration and cognitive function, preventing memory loss, boosting mental performance, and reducing depression and anxiety.
They facilitate the neurotransmitter level in the brain by inhibiting excess acetylcholinesterase (AChE) activity, improving blood circulation inside the brain, and providing a sufficient supply of oxygen to the brain cells. As a result, brain health supplements find applications in decreasing the risk of various brain diseases, such as Alzheimers, Parkinsons, dementia, amyotrophic lateral sclerosis, Friedreich ataxia, Huntington's, Lewy body, and spinal muscular atrophy.
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What are the growth prospects and trends in the Brain Health Supplements industry?
At present, the rising awareness among the masses about the harmful impact of mental health issues, such as anxiety, depression, and low concentration, represents one of the key factors driving the market. Besides this, the growing prevalence of brain cancer among the masses due to the increasing geriatric population and air pollution, overdiagnosis, and ionizing radiation is currently offering a positive market outlook. In addition, there is a rise in the consumption of brain health supplements among students to enhance memory and score well in academics across the globe. This, coupled with the growing hectic lifestyles and mental stress among individuals, is catalyzing the demand for brain health supplements.
Apart from this, there is an increase in the demand for natural and herbal extract supplements to boost immunity without any side effects while providing symptomatic relief to consumers. This, along with the growing adoption of veganism around the world, is positively influencing the market. Moreover, the wide availability of brain health supplements through online and offline distribution channels, along with the thriving e-commerce industry, is offering a lucrative growth opportunity to industry investors. Additionally, the rising demand for omega-3s to build brain and nerve cells and protect the brain against cognitive decline is propelling the growth of the market. In line with this, the escalating demand for brain health supplements to increase alertness by blocking the formation of adenosine is bolstering the growth of the market. Furthermore, the increasing demand for brain health supplements among individuals to reduce insomnia and anti-aging is strengthening the growth of the market.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Product:
- Natural Molecules
- Herbal Extract
- Vitamins and Minerals
Breakup by Form:
- Tablets and Capsules
- Powder
- Others
Breakup by Distribution Channel:
- Supermarkets and Hypermarkets
- Drug Stores
- Online Stores
- Others
Breakup by Application:
- Memory Enhancement
- Attention and Focus
- Depression and Mood
- Sleep and Recovery
- Anti-aging and Longevity
- Others
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- Accelerated Intelligence Inc.
- AlternaScript
- Aurobindo Pharma
- HVMN Inc.
- Liquid Health Inc.
- Natural Factors Nutritional Products Ltd.
- Onnit Labs Inc.
- Purelife Bioscience Co. Ltd.
- Quincy Bioscience LLC
- Reckitt Benckiser Group plc.
- Teva Pharmaceutical Industries Ltd.
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