The Brain Health Supplements Market Size was valued at USD 8.7 Billion in 2022 and is projected to grow from USD 9.9 Billion in 2023 to USD 27.6 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 13.70% during the forecast period (2023 - 2032). The increasing consumer awareness of mental health issues and rising use of natural and herbal health products, are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The development is related to greater awareness of mental health conditions such inability to concentrate, memory loss, anxiety, and depression. Additionally, it is predicted that the business would rise during the forecast period due to the rising popularity of natural and herbal health products. More R&D efforts are anticipated in this sector due to the growing desire for multi-efficacy medications that may combat anxiety, boost energy, treat depression, and improve brain function. Additionally, the global market is anticipated to see expansion because to the sports industry's growing demand to increase athletes' brain effectiveness. Over the next few years, it is anticipated that individuals connected to the academic and professional worlds will help fuel demand for brain health supplements. Additionally, these items are likely to be well received by those who experience a variety of brain disorders, including depression, dementia, anxiety, and sleeplessness, to mention a few.
In September 2021, the World Health Organisation (WHO) reported that roughly 280 million people worldwide, of all ages, suffered from depression. Anxiety disorders are among the most prevalent mental ailments in the US. According to a report from the Anxiety & Depression Association of America dated October 2022, 40 million adult Americans, or around 19.1% of the population, experienced anxiety. In the near future, it is anticipated that growing public awareness of mental diseases will expand the range of applications for brain health supplements.
Additionally, these medications are used to treat Parkinson's disease as well as other cognitive and age-related issues like hyperactivity.The market for brain health supplements is anticipated to expand as awareness of mental wellness and cognitive development grows. The market penetration for supplements promoting brain health and memory improvement was highest in 2022. These items have been expanding as academic and professional domains face increasing competition. Additionally, one of the causes that propelled the development of such supplements was the ageing population's growing desire for memory enhancement.
Additionally, it is anticipated that the affordability and accessibility of these items would increase consumer product acceptance. These elements could help to segment growth. fueling the brain health supplements' market revenue.
Brain Health Supplements Market Segment Insights
The Market segmentats of Brain Health Supplements, based on product, includes natural molecules, herbal extract, and vitamins & minerals. The herbal extract category held the biggest market share in 2022. The need for herbal extract supplements for brain health will increase as people's preferences for herbal goods rise in developing countries like China and India. Around 80% of the world's population uses traditional medicine to treat their most basic health issues, according to a 2022 report from the World Health Organisation.
The Brain Health Supplements Market segmentation, based on Application, includes memory enhancement, attention & focus, depression & mood, sleep & recovery, anti-aging & longevity, and stress & anxiety. In 2022, the memory enhancement category held a larger market share. Students' need for memory boosters and brain health supplements has increased as a result of increased rivalry in the academic world. In the following years, leading companies are projected to see growth due to the rising popularity of natural and herbal extract supplements.
Figure 1: Brain Health Supplements Market, by Application, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North America Brain Health Supplements Market dominated this market in 2022 (45.80%). In recent years, there has been a significant increase in consumer demand for items that enhance cognitive health in North America. This demand has been fueled by the rising trend of health consciousness, particularly among young people. Americans aged 50 and older regularly consume large amounts of brain health supplements due to growing concerns over their brain and cognitive health, according to a June 2019 survey on brain health and dietary supplements by the American Association of Retired Persons (AARP). Â Further, the U.S. market of Brain Health Supplements held the largest market share, and the Canada market of Brain Health Supplements was the fastest growing market in the North America region.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: BRAIN HEALTH SUPPLEMENTS MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe Brain Health Supplements market accounts for the significant market share. The increase in brain disease prevalence is primarily to blame for this. The presence of a well-established healthcare infrastructure and growing awareness of brain illnesses would further contribute to the market growth in this area. Further, the German market of Brain Health Supplements held the largest market share, and the U.K market of Brain Health Supplements was the fastest growing market in the European region
The Asia Pacific Brain Health Supplements market, is expected to register fastest growth from 2023 to 2032. Due to rising consumer awareness of the advantages of these supplements, a growing preference for natural supplements over pharmaceuticals, and an increase in the incidence of Alzheimer's disease, the market for brain supplements has demonstrated exceptional penetration in the Asia Pacific region, particularly in China, India, and Japan. Moreover, China’s market of Brain Health Supplements held the largest market share, and the Indian market of Brain Health Supplements was the fastest growing market in the Asia-Pacific region.
Brain Health Supplements Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the market of Brain Health Supplements, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Brain Health Supplements industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Brain Health Supplements industry to benefit clients and increase the market sector. In recent years, the Brain Health Supplements industry has offered some of the most significant advantages to medicine. Major players in the Brain Health Supplements market, including Natural Factors Nutritional Products Ltd, Onnit Labs, Inc., Purelife Bioscience Co. Ltd, Intelligent Labs, Accelerated Intelligence Inc., NOW Foods, HVMN Inc., Teva Pharmaceutical Industries Ltd., Peak Nootropics;, and Alternascript, are attempting to increase market demand by investing in research and development operations.
Services for healthcare are offered by Elysium Health, Inc. Medicines for metabolic repair and improvement are provided by the company. Customers in the US are catered to by Elysium Health. In June 2020, Elysium Health, Inc. released a longevity supplement for brain health on the market in partnership with the University of Oxford. The supplement is made up of a formulation of particular B vitamins that was developed in a clinical setting to reduce brain shrinkage and age-related memory loss. Additionally, it contains a bilberry extract rich in anthocyanins to provide supplementary cognitive advantages and a powdered omega-3 lysine complex with higher bioavailability to increase the efficiency of the B-vitamin complex.
Manufacturer and distributor of nutrition, toiletry, personal care, household and specialised products is Reckitt Benckiser Group Plc (RB). Air fresheners, laundry products, dishwashing detergents, disinfectant sprays, household cleansers, and personal care items are among the company's product lines. Additionally, it offers over-the-counter (OTC) medications, nourishment for adults, children, and infants, dietary supplements, painkillers, hair removal treatments, and pest control items. Strepsils, Dettol, Lysol, Move, Air Wick, Calgon, Durex, Veet, Harpic, Mortein, Nutramigen, Finish, and Vanish are some of the brands that RB sells these items under. The company operates in the Americas, the Middle East, Africa, Asia Pacific, and Europe. The U.K.'s Slough, Berkshire, is home to RB's headquarters. A clinically validated "Neuriva" brain health supplement based on a patented coffee bean extract was launched in the U.S. market by Reckitt Benckiser Group plc. in February 2019. They also developed a mobile application to offer this supplement personalised and unique brain training programmes.
Key Companies in the Brain Health Supplements market include
Brain Health Supplements Industry Developments
June 2022Â To better understand the impacts of its medication, the "new mood serotonin booster," Onnit Labs, Inc. has added a new study to its portfolio of clinical trials. The dietary supplement was created to assist in regulating stress and mood. College students who regularly deal with pressures like academic performance and post-graduation goals made up the test group.
June 2021Â 'Neuro Booster' was introduced by Motiva Supplements. This offers greater absorption of six important functional foods, making it the first ever product to benefit brain health and help Alzheimer's patients.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 8.7 Billion |
| Market Size 2023 | USD 9.9 Billion |
| Market Size 2032 | USD 27.6 Billion |
| Compound Annual Growth Rate (CAGR) | 13.70% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product, Application, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Natural Factors Nutritional Products Ltd, Onnit Labs, Inc., Purelife Bioscience Co. Ltd, Intelligent Labs, Accelerated Intelligence Inc., NOW Foods, HVMN Inc., Teva Pharmaceutical Industries Ltd., Peak Nootropics;, and Alternascript |
| Key Market Opportunities | Increasing sedentary and hectic lifestyle |
| Key Market Dynamics | Rising awareness regarding mental health issues and increasing adoption of natural and herbal health products |
Frequently Asked Questions (FAQ) :
The Brain Health Supplements Market size was valued at USD 8.7 Billion in 2022.
The global market is projected to grow at a CAGR of 13.70% during the forecast period, 2023-2032.
North America had the largest share in the global market
The key players in the market are Natural Factors Nutritional Products Ltd, Onnit Labs, Inc., Purelife Bioscience Co. Ltd, Intelligent Labs, Accelerated Intelligence Inc., NOW Foods, HVMN Inc., Teva Pharmaceutical Industries Ltd., Peak Nootropics;, and Alternascript
The Herbal Extract Product dominated the market in 2022.
The Memory Enhancement Application had the largest share in the global market.
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Assistant Manager He holds an experience of about 7+ years in market research and business consulting, working under the spectrum of life sciences and healthcare domains. rahul conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. his expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc. in addition to the above, his other responsibility includes strategic tracking of high growth markets & advising clients on the potential areas of focus they could direct their business initiatives
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