Brain Health Functional Food And Beverage Market Size, Share & Trends Analysis Report By Ingredient (Choline, Curcumin), By Product (Dairy, Bakery), By Distribution Channel (Specialty Stores, Online), And Segment Forecasts, 2023 - 2030

Brain Health Functional Food And Beverage Market Size, Share & Trends Analysis Report By Ingredient (Choline, Curcumin), By Product (Dairy, Bakery), By Distribution Channel (Specialty Stores, Online), And Segment Forecasts, 2023 - 2030

Brain Health Functional Food And Beverage Market Growth & Trends

The global brain health functional food and beverage market size is expected to reach USD 40.34 billion by 2030, registering a CAGR of 10.5% during the forecast period, according to a new report by Grand View Research, Inc. Mental health is becoming a priority for a huge base of consumers all over the world that are ready to spend on products that support their mental health. The interest of consumers is increasing in food and beverage products that offer functional benefits regarding stress relief and sleep quality. Furthermore, there has been an increase in spending on functional beverages and snacking products among consumers as they spent more time at home owing to the work-from-home trend. Such factors are creating various opportunities for product manufacturers.

The COVID-19 pandemic marked a significant impact on consumers' mental health and shifted their attitudes toward brain health. Various factors, such as isolation and infection, created massive stress among consumers across the globe that encouraged manufacturers to launch products that aid brain health. Moreover, the increasing prevalence of depression and anxiety triggered by the COVID-19 pandemic further drove the need for brain-health functional beverages and foods among consumers. As per an article published by the World Health Organization (WHO) in March 2022, the prevalence of depression and anxiety had risen by 25%. The vitamins & minerals segment dominated the industry.

Group B vitamins, zinc, copper, magnesium, iron, selenium, iodine, and potassium are some widely known components that are vital for healthy brain function. Vitamin B6, B9 (folate), and B12 are the major vitamins that aid the functioning of the brain as well as the nervous system. These vitamins have been proven scientifically to boost brain power, fight depression, restrict brain aging as well as relieve stress. Several products have been launched in various categories, infused with different brain-boosting vitamins and minerals to suit the ever-changing needs of consumers. In October 2021, OHMG brands, a U.K.-based startup, launched magnesium, L-theanine, and ashwagandha-infused still and sparkling waters, to reduce anxiety, fatigue, and aid in normal psychological function. North America held the largest revenue share in 2022.

The large population of North America has been experiencing an increase in brain health and lifestyle-related diseases due to poor dietary habits, sedentary lifestyles, and busy schedules. As a result, there has been a growing awareness about the benefits of regularly incorporating functional foods and beverages into the diet to improve overall health and obtain essential nutrients, which has driven the industry's growth in the region. Industry players are heavily investing in research and development activities to achieve product differentiation. It allows businesses to gain an edge and thrive in competitive markets. For instance, in May 2021 Vitafusion, a gummy vitamin brand, announced the release of Brain Food, a combination formula featuring adaptogen ashwagandha, vitamins B6 and B12, and phosphatidylserine, created together to provide nutrients required to maintain healthy brain function.

Brain Health Functional Food And Beverage Market Report Highlights

• A rising number of awareness campaigns by government agencies, non-governmental organizations, and companies have boosted industry growth
• The choline segment is expected to witness substantial growth during the forecast period. Choline aids in basic brain functions and key biochemical chain reactions that affect brain cells directly
• The nutritional bars & supplement segment is expected to witness substantial growth during the forecast period from 2023 to 2030. The demand for bars and supplements has risen as lifestyles become increasingly hectic, leaving little to no time for proper home-cooked nutritional meals
• The online segment is expected to witness substantial growth during the forecast period. Several brands operate exclusively via the e-commerce channel. Such portals give lucrative discounts to consumers, which helps garner more attention and sales. In September 2022, Fonterra, a dairy giant operating in New Zealand, launched BioKodeLab, a supplement brand aimed to improve cognitive performance
• North America was the largest regional market in 2022. Nutritional bars & supplements are highly preferred by consumers in the region owing to the convenience and quick-eat solution for adding proteins, vitamins, and minerals to the diet through just one bar or a supplement