Brain Health Supplements Market to reach US$ 14,639.5 Mn by end of 2028, Says Coherent Market Insights

SEATTLE, Nov. 29, 2021 /PRNewswire/ -- According to Coherent Market Insights, The global brain health supplements market is estimated to account for 14,639.5 Mn in terms of value by the end of 2028.

One of the most significant benefits of brain health supplements is that they can help improve cognitive function and memory. Some brain health supplements contain a number of nutrients that aid the brain. Ginkgo biloba and coenzyme Q10 are both popular, although they also contain caffeine, which can impair brain function. Using these supplements daily can help prevent dementia, improve mood and memory. There are several different supplements that can help improve the function of the brain. Some of the most popular are vitamins and minerals, which are beneficial for the brain. Those with cognitive problems should avoid taking vitamin E, which is a powerful antioxidant. While these supplements are beneficial for overall health, they are not effective for treating or preventing dementia.

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Market Drivers

1.  Growing prevalence of mental disorders is expected to drive growth of the global brain health supplements market during the forecast period.

With growing geriatric population, the prevalence of different mental disorders such as Alzheimer's, depression, and anxiety has increased. According to the Alzheimer Association, in 2021, around 6.2 million people in the U.S. aged 65 years and above are living with Alzheimer's dementia. According to the World Economic Forum (WEF), 2019, around 275 million people across the globe suffer from anxiety disorders, of which 170 million are female sufferers while male sufferers account for 105 million. Moreover, according to the Anxiety and Depression Association of America (ADAA), anxiety disorder is the most common mental illness in the U.S., affecting around 40 million adults in the country. Brain health supplements can aid in breaking down homocysteine, high levels of which have been associated with a greater risk of dementia and Alzheimer's disease.

2.  Increasing awareness among the general population regarding wellbeing is expected to propel the global brain health supplements market growth over the forecast period

General population has become increasingly aware of brain health supplements and their advantages. Consumers are actively seeking such products, in order to maintain a healthy lifestyle and prevent the advent of various mental disorders. With rising number of promotional activities conducted by key companies, the demand for brain health supplements is expected to surge in the near future. Moreover, rising disposable income and rapidly growing urbanization in emerging economies, the adoption of such supplements are likely to grow in the near future.

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Market Opportunity

1.  Launch of novel products by key players can present lucrative growth opportunities

Key players are focused on research and development activities, in order to launch novel products. For instance, in July 2020, Elysium Health launched a new brain health supplement Matter, pair of a high-dose suite of B vitamins with specially formulated omega-3s from fish oil.

2.  The adoption of inorganic strategies by market players can provide major business opportunities in the near future

Major market players are involved in various inorganic strategies such as partnerships and collaborations, in order to enhance the market presence and gain a competitive advantage. For instance, in March 2021, Neuriva partnered with Mayim Bialik to educate and empower consumers in brain health.

Market Trends

1.  Memory Enhancement supplements continue to major demand

Among applications, memory enhancement is one of the largest categories in brain health supplements. Increasing concerns pertaining to dementia among geriatric people have increased the demand for memory-enhancing products across the globe. According to the World Health Organization (WHO), in 2021, there were around 55 million people living with dementia across the globe with around 10 million cases every year. Some of the most common memory-enhancing products in the market include green tea, omega-3, ginseng root, turmeric, and bacopa.

2.  North America Trends

Among regions, North America is expected to witness significant growth in the global brain health supplements market during the forecast period. This is owing to growing geriatric population and the high prevalence of cognitive impairments across the region. According to the Anxiety and Depression Association of America (ADAA), anxiety disorder is the most common mental illness in the U.S., affecting around 40 million adults in the country. Moreover, the presence of robust healthcare infrastructure is expected to boost the regional market growth in the near future.

Competitive Section

Key companies involved in the global brain health supplements market are AlternaScript, LLC, Accelerated Intelligence Inc., Liquid Health, Inc., HVMN Inc., Natural Factors Nutritional Products Ltd., KeyView Labs, Inc., Onnit Labs, LLC, Purelife Bioscience Co., Ltd., Quincy Bioscience, Cerebral Success, Amway, Puori, Ocean Health, and Schiff.

For instance, in April 2021, Unilever plc, a U.K.-based consumer goods company, acquired Onnit, a U.S.-based health supplements company, who's popular for its brain health supplement product Alpha Brain for better memory, focus, and mental processing. 

Segmentation

• By Product Type:
• Herbal Extracts: Ginseng, Ginkgo Biloba, Curcumin, Lions Mane, Others.
• Vitamins & Minerals: Vitamin B, Vitamin C & E, Others.
• Natural Molecules: Acetyl-L-Carnitine, Alpha GPC, Citicoline, Docosahexaenoic Acid (DHA), Others Consumables & Disposables.
• By Application: Memory Enhancement, Mood & Depression, Attention & Focus, Longevity & Anti-aging, Sleep & Recovery, and Anxiety.
• By Supplement Form: Tablets, Capsules, Others.
• By Age Group Grouped User: Geriatric, Adults, and Pediatrics.
• By Distribution Channel: Geriatric, Adults, and Pediatrics.

Global Brain Health Supplements Market, By Region:

• North America
• By Country:
• U.S.
• Canada
• Europe
• By Country:
• U.K.
• Germany
• Italy
• France
• Spain
• Russia
• Rest of Europe
• Asia Pacific
• By Country:
• China
• India
• Japan
• ASEAN
• Australia
• South Korea
• Rest of Asia Pacific
• Latin America
• By Country:
• Brazil
• Mexico
• Argentina
• Rest of Latin America
• Middle East & Africa
• By Country:
• GCC Countries
• Israel
• South Africa
• Rest of Middle East & Africa

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SOURCE Coherent Market Insights