Brain Health Supplements Market

Brain Health Supplements Market

Growth Factors of Brain Health Supplements Market

The brain health supplements market size was valued at USD 5.87 billion in 2023, and the market is now projected to grow from USD 6.29 billion in 2024 to USD 11.55 billion by 2032, exhibiting a CAGR of 7.9% during the forecast period of 2024-2032.

Pandemic had a very good impact on the market through encouraging people to speak about their reviews with intellectual illness, stress, anxiety, and mood changes on social media. The growing occurrence of intellectual contamination has brought about extended demand for these supplements in the marketplace. During the pandemic, human beings prioritized their physical health and great of lifestyles, leading to a surge in demand for these gadgets. The developing call for mind health supplements has led producers to interact with mental fitness influencers to sell their goods.

Young people's focus on normalizing and prioritizing mental health talks has led to increased support for those with various mental disorders. The assistance has improved people's awareness of mental health, eliminated stigma, and encouraged more individuals to seek help. The trend of introducing natural elements into diets is driving brain health supplements market growth.

Many dietary supplements can improve brain health and decrease the threat of neurodegenerative problems together with Alzheimer's and dementia. While brain health supplements have potential for damage prevention, their protection and efficacy remain uncertain. Brain health supplements may additionally encompass unlisted additives or in varying concentrations. Furthermore, overconsumption will increase the risk of adverse consequences. To deal with this problem, researchers are designing safer and extra powerful extracts and components. Manufacturers are in search of regulatory approval to benefit advertising permission.

Comprehensive Analysis of Brain Health Supplements Market

The market for brain health supplements is segmented into nootropic supplements and vitamins & minerals. The nootropic supplement segment is expected to grow at the highest CAGR due to its benefits and role in optimizing brain function. The vitamins & minerals segment is expected to dominate the market, driven by the growing interest of the aging population and younger people in maintaining mental healthcare. The tablet segment is predicted to grow extensively due to its excessive availability, dosing alternatives, and occasional value. The cognitive characteristic segment is anticipated to develop because of the growing prevalence of cognitive impairment cases and the ageing populace. The strain and tension section is anticipated to develop due to improved responsibilities, uncertainty, and worrying life activities. The market is also segmented into hospital pharmacies, drug stores & retail pharmacies, and online channels.

The North America region lead the brain health supplements market share by benefitting a market size of USD 2.82 billion in 2023 due to increased incidence of cognitive impairments and improved diagnostic and treatment rates for neurological illnesses. The aged population's focus on mental healthcare is driving market expansion in the area. A research published in Nuvance Health in May 2022 found that persons over 50 spend over USD 93.0 million each month on brain health supplements. The American Association of Retired Persons performed the survey.

The marketplace is fragmented, with many players presenting lots of merchandise. Neuriva, a mind fitness supplement, has visible accelerated income and a focus on enhancing income strategies. In 2022, over 3,000 employees completed sales competency gaining knowledge of, and the enterprise become offered Overall Supplier of the Year 2022 by means of Woolworths and the Brazilian Association of Cash and Carry Retailers. Natrol, LLC., a main organisation, is launching new merchandise and collaborating with competitors to increase their product portfolio. The increasing number of private label manufacturers also presents possibilities for new entrants to go into the market.

In February 2024, EyePromise, a complement enterprise focused on eye fitness, launched BrainPromise, a mixture that includes vitamins, minerals, and carotenoids lutein and zeaxanthin.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2019-2032

Base Year 2023

Estimated Year 2024

Forecast Period 2024-2032

Historical Period 2019-2022

Growth Rate CAGR of 7.9% from 2024-2032

Unit Value (USD Billion)

Segmentation By Product Type

- Nootropic Supplements

• Dietary Supplements
• Herbal Extracts
• Others (Synthetic compounds, prescription drugs)

- Vitamins & Minerals

By Dosage Form

- Tablets

- Capsules

- Others

By Application

- Cognitive Function

- Stress & Anxiety

- Others

By Distribution Channel

- Hospital Pharmacies

- Drug Store & Retail Pharmacies

- Online Channel

- Others

By Region

- North America (By Product Type, By Dosage Form, By Application, By Distribution Channel, and By Country)

• U.S.
• Canada

- Europe (By Product Type, By Dosage Form, By Application, By Distribution Channel, and By Country/Sub-Region)

• U.K.
• Germany
• France
• Italy
• Spain
• Scandinavia
• Rest of Europe

- Asia Pacific (By Product Type, By Dosage Form, By Application, By Distribution Channel, and By Country/Sub-Region)

• Japan
• China
• India
• Australia
• Southeast Asia
• Rest of Asia Pacific

- Rest of the World (By Product Type, By Dosage Form, By Application, and By Distribution Channel)


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