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The global brain health supplements market is estimated to grow by USD 4.02 billion at a CAGR of 8.18% between 2022 and 2027. The major factor driving the market growth is the increase in the geriatric population. Older people are generally prone to age-related diseases such as dementia and Alzheimer’s disease, and others. These supplements are products that prevent age-related disorders and that help to maintain lower blood sugar levels and low cholesterol. Due to the lack of complete nutrition in the diet, they are prescribed brain health supplements to reduce the risk of brain and cognitive diseases. Hence, with an increase in the aging population, there is also a rise in the demand for these supplements.
It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The market is segmented by end-user (adult and children), distribution channel (retail and online), and geography (North America, Europe, Asia, Rest of the World (ROW)).
The adults segment was valued at USD 3.79 billion in 2017. There are several types of brain health supplements marketed for adults such as Omega-3 fatty acids, B vitamins, Ginkgo biloba, Bacopa monnieri, Phosphatidylserine, Acetyl-L-carnitine, and Caffeine. When taken appropriately, the effectiveness of these dietary supplements will vary depending on the individual and their specific needs and will help spur the growth of the segment during the forecast period.
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Some common brain health supplements that may be marketed for children include Omega-3 Fatty Acids, Vitamin B-12, Iron, and Zinc. Again, it is important to consult a doctor before giving the above supplements to children. However, with proper precautions and information, this market segment is expected to grow during the forecast period.
This market segment is also facilitated by the availability of numerous products under one roof. As aging populations grow rapidly, developing countries are opening up more retail outlets to meet the demand for these supplements. In addition, retail consumers receive authentic and authoritative information about in-store products from on-site staff and nutritionists. Such arrangements guide potential users toward these products and help in revenue growth.
The increasing number of internet users, along with the growing market presence of brain health supplements, has had a significant impact on the market demand for these products. Additionally, companies in this market are using online retailers and social media to engage consumers and instill trust. Online channels are also forcing companies to liberalize their policies to make the purchasing process easier. Therefore, the convenience and simplicity of such guidelines will stimulate demand for these supplements online.
North America is estimated to contribute 41% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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In North America, the use of supplements to enhance productivity in various areas such as sports and sexual activity, helped pave the way for brain supplement products. Both online and brick-and-mortar retail merchants are creating space on store shelves for these supplements to meet the needs of consumers, from teenagers to older adults. Moreover, the region also witnesses the growth of brain fitness programs and centers, which further escalates the demand for these products. This will drive market growth in the region during the forecast period.
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There is high competition in the market. Among several market players, the organization Abbott Laboratories stands out among the competitors due to technological innovation and the on-point marketing strategy.
Abbott Laboratories: The company offers brain health supplements such as DHA milk powder, Similac powder, and Similac 360 total care.
The market research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Technavio’s report consists of a holistic analysis of the key development Analysis, development stage, pipeline analysis, FDA approval, market players, their marketing strategies, and powerful innovations to help any client gain a competitive edge.
The market is driven by the increasing focus on enhancing cognitive abilities and maintaining brain health. These supplements aim to improve memory, concentration, focus, energy, mood, and motivation, promoting long-term brain health. They often contain natural ingredients, including nootropics, organic compounds, and herbal extracts, available in various forms such as capsules, tablets, and powders. However, consumers should be cautious of misleading claims and potential adverse effects. These supplements are particularly popular among individuals seeking to address hyperactivity, Parkinson's disease, Alzheimer's, dementia, and mood disorders like depression, as well as those interested in overall brain healthiness, longevity, and anti-aging. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges.
One of the key factors driving the market growth is the growing urban population. According to the data stated by the World Bank Group, 56% of the overall population in the world lived in urban settlements in 2019. However, the instances of dementia and chronic diseases such as Alzheimer’s are also increasing, which has led to a rise in the number of people becoming conscious about their health. Moreover, the higher disposable incomes in Pacific Rim countries such as Malaysia, Indonesia, and Vietnam are expected to drive market growth even further, particularly in the areas of cognitive abilities, brain health, memory, concentration, focus, energy, mood, motivation, and long-term brain health, with a growing preference for products containing natural ingredients. In addition, the easy availability of the products through strong distribution channels, including online and retail outlets, will further support the growth of the market in focus during the forecast period.
Another key factor driving the market growth is the growing demand for online retail. The increasing marketing activities online enable manufacturers to offer consumers easy access to a variety of brain health supplements. E-commerce platforms sell a wide range of brain health supplements across different geographical regions at lower rates than local companies in traditional (offline) channels. Such discounts and offers and the availability of several brands of brain health supplements attract consumers to buy products in bulk through online retail channels. This is expected to increase online purchases in the market during the forecast period.
One of the key challenges to the market growth is the low penetration in developing regions. The penetration of brain health nutrition is comparatively lower in these countries, such as Africa and the Middle East, when compared with developed countries, such as Germany and the US owing to factors such as low affordability and lesser awareness. Moreover, product visibility and availability are also very low here, which can be attributed to the poor distribution channel and low Internet penetration. Therefore, despite the huge opportunities offered by underdeveloped and developing countries, these factors will negatively affect the sales revenue of companies in the market during the forecast period.
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The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market Customer Landscape
The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
The market focuses on enhancing cognitive performance and mental health. Consumers seek products with nutritional value containing ingredients like Docosahexaenoic acid (DHA), Vinpocetine, and Vitamin D for mood, attention, and longevity. Brands emphasize product safety and natural molecules to address concerns about mental disorders and brain diseases. Supplements like Neuratech and Boost target alertness and endurance, while others like Calm aim to reduce anxiety and improve sleep. The market caters to a wide range of demographics, including Millennials and the elderly population, offering solutions for stress, depression, and insomnia with GMO-free ingredients and innovative components like Sharp Phosphatidylserine (PS) and Neurofactor.
Market Scope |
|
Report Coverage |
Details |
Page number |
160 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 8.18% |
Market growth 2023-2027 |
USD 4.02 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
7.6 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 41% |
Key countries |
US, Germany, UK, China, and Japan |
Competitive landscape |
Leading companies, Market Positioning of companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Abbott Laboratories, Amway Corp., BASF SE, Bayer AG, BrainMD Health, Cyanotech Corp., Dermapharm Holding SE, Glanbia plc, Herbalife International of America Inc., Hi Tech Pharmaceuticals Inc., Jarrow Formulas Inc., Koninklijke DSM NV, Liquid Health Inc., NOW Health Group Inc., Archer Daniels Midland Co., Herbal Goodness, Jacobson Pharma Corp. Ltd., Natural Factors Nutritional Products Ltd., Quincy Bioscience, and Thorne HealthTech Inc. |
Market dynamics |
Parent market analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for forecast period. |
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. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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