The cognition supplements market share is expected to increase by USD 4.55 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 13.93%.
This cognition supplements market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers cognition supplements market segmentation by application (memory enhancement, mood & depression alleviation, attention & focus improvement, and others) and geography (North America, Europe, APAC, South America, and MEA). The cognition supplements market report also offers information on several market vendors, including Archer Daniels Midland Co., BASF SE, Amway Corp., Arkopharma Laboratories, Bayer AG, Glanbia Nutritionals Inc., and GNC Holdings Inc., Herbalife Nutrition Ltd., Koninklijke DSM NV, and Lonza Group Ltd. among others.
What will the Cognition Supplements Market Size be During the Forecast Period?
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Cognition Supplements Market: Key Drivers, Trends, and Challenges
Based on our research output, there has been a positive impact on the market growth during and post COVID-19 era. The increasing proportion of the geriatric population is notably driving the cognition supplements market growth, although factors such as lack of awareness about cognition supplements may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the cognition supplements market industry. The holistic analysis of the drivers will help deduce end goals and refine marketing strategies to gain a competitive edge.
Key Cognition Supplements Market Driver
The increasing proportion of the geriatric population is one of the major drivers impacting the cognition supplements market growth. The growth in the proportion of the geriatric population is a global phenomenon. Due to improper diet and the absence of physical activity, people in the modern world are experiencing adverse effects on their health, leading to major health issues. These issues are more prevalent in older or geriatric people. Older people are more prone to age-related diseases and dementia and audio and video memory lapses owing to the lack of physical activities and improper diets. The consumption of cognition supplements helps in maintaining complete nutrition, thus reducing the risk of loss of brain functions. Therefore, with an increase in the older adult population around the world, there will be a growth in the demand for brain health supplements in the coming years to meet the basic brain functioning requirements.
Key Cognition Supplements Market Trend
The popularity of online retailing is one of the major trends influencing the cognition supplements market growth. The increasing use of online channels to purchase products is likely to drive the growth of the global cognition supplements market. For instance, according to the US Census Bureau, in the US, for the second quarter of 2020, retail e-commerce sales were valued at $211.5 billion, which was an increase of 31.8% compared with the first quarter of 2020. The presence of strong online distribution channels and platform providers, such as Walmart Inc. and Amazon.com Inc., is expected to boost the growth of online sales. The increasing use of online sales channels is expected to create new opportunities for vendors, as they can target global customers, improve operational efficiencies, and provide customized products. The evolving landscape of the retail industry is enabling vendors to develop online strategies to target new market segments and retain existing customers. Thus, vendors are selling their products through online platforms, such as Walmart, IndiaMart, and Amazon.
Key Cognition Supplements Market Challenge
Lack of awareness about cognition supplements is one of the major challenges impeding the cognition supplements market growth. Many people are unaware of the diseases that are caused due to the deficiency of micronutrients, which are not present in our daily intake of foods. Hence, they realize conditions only when they have progressed to serious health disorders, such as dementia. Many people are unaware of memory deficiency and recognize the condition only when it has progressed to a more serious health disorder, such as Alzheimer s. Developed countries are better placed on this count, with a major section of the people being aware of balanced diets and alternate sources of vital ingredients, such as vitamin health drinks, protein shakes, and supplement pills. In developing regions such as Africa and the Middle East, the penetration of cognition supplements is very low. This is because of the low affordability and awareness in these regions. The low-priced cognition supplements are also low in quality, where to cut down on the manufacturing expenses, quality is compromised. Also, product visibility and availability are very low, which is due to poor distribution channels and low Internet penetration. Thus, all these factors are expected to hamper the market growth. However, measures such as health education and the availability of proper diagnostic facilities can solve this problem and drive the demand for cognition supplements.
This cognition supplements market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Parent Market Analysis
Technavio categorizes the global cognition supplements market as a part of the global packaged foods and meats market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the cognition supplements market during the forecast period.
Who are the Major Cognition Supplements Market Vendors?
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
- Archer Daniels Midland Co.
- BASF SE
- Amway Corp.
- Arkopharma Laboratories
- Bayer AG
- Glanbia Nutritionals Inc.
- GNC Holdings Inc.
- Herbalife Nutrition Ltd.
- Koninklijke DSM NV
- Lonza Group Ltd.
This statistical study of the cognition supplements market encompasses successful business strategies deployed by the key vendors. The cognition supplements market is fragmented and the vendors are deploying growth strategies such as the expansion of production plants and the acquisition of local companies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The cognition supplements market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the leading companies' production, sustainability, and prospects.
Cognition Supplements Market Value Chain Analysis
Our report provides extensive information on the value chain analysis for the cognition supplements market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the packaged foods and meats market includes the following core components:
- Inputs
- Inbound logistics
- Operations
- Outbound logistics
- Marketing and sales
- Service
- Support activities
- Innovation
The report has further elucidated other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
Which are the Key Regions for Cognition Supplements Market?
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35% of the cognition supplements market growth will originate from North America during the forecast period. The US is the key market for the cognition supplements market in North America. Market growth in this region will be faster than the growth of the market in regions.
Factors such as the increasing health consciousness among the people in the region and the rising disposable income of individuals will facilitate the cognition supplements market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
What are the Revenue-generating Application Segments in the Cognition Supplements Market?
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The cognition supplements market share growth by the segment is expected to be a significant contributor to the growth of the cognition supplements market share during the forecast period. The growing prevalence of memory loss ailment and the rising adoption of preventive medicine and dietary supplements are expected to drive the growth of the memory enhancement segment during 2021-2025. Also, individuals such as college students and young professionals are using these supplements to improve their recall and memory power due to which cognition supplements for memory enhancement are expected to grow further during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the cognition supplements market size and actionable market insights on post COVID-19 impact on each segment.
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Cognition Supplements Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2020 |
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Forecast period |
2021-2025 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 13.93% |
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Market growth 2021-2025 |
$ 4.55 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
13.70 |
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Regional analysis |
North America, Europe, APAC, South America, and MEA |
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Performing market contribution |
North America at 35% |
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Key consumer countries |
US, UK, Japan, Germany, and China |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Archer Daniels Midland Co., BASF SE, Amway Corp., Arkopharma Laboratories, Bayer AG, Glanbia Nutritionals Inc., GNC Holdings Inc., Herbalife Nutrition Ltd., Koninklijke DSM NV, and Lonza Group Ltd. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
What are the Key Data Covered in this Cognition Supplements Market Report?
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will drive cognition supplements market growth during the next five years
- Precise estimation of the cognition supplements market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the cognition supplements industry across North America, Europe, APAC, South America, and MEA
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of cognition supplements market vendors
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