Market Overview:
Brain health supplements contain vitamins, minerals, and other nutrients that are believed to support brain health, cognition, memory, concentration, and mood in users. These supplements are important due to the growing rates of neurodegenerative diseases and increasing mental health issues.
The global Brain Health Supplements Market is estimated to be valued at US$ 9.0 Bn in 2023 and is expected to exhibit a CAGR of 8.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends driving the brain health supplements market is the growing popularity of natural and plant-based supplements. Customers are increasingly looking for supplements made from natural ingredients like herbs, vitamins, minerals, and plant extracts rather than synthetic ingredients. This is because natural supplements are considered safer and freer from side effects. Plant-based supplements like Ginkgo biloba, Bacopa monnieri, and Rhodiola rosea supplements are becoming more popular as they are believed to effectively improve cognitive functions without any side effects.
Segment Analysis
The global brain health supplements market is segmented into dietary supplements and medical devices. The dietary supplements segment dominated the market in 2022 and is expected to continue its dominance during the forecast period. Dietary supplements such as herbal supplements, vitamins, and minerals are cheaper and easily available options to improve brain functions. Further, increasing awareness about cognitive health is anticipated to boost the demand for dietary supplements during the forecast period.
Key Takeaways
The global brain health supplements market is expected to witness high growth, exhibiting a CAGR of 8.5% over the forecast period, due to increasing awareness about cognitive decline and focus on improving brain functions.
Regional analysis
North America is expected to dominate the global brain health supplements market during the forecast period. The increasing prevalence of neurological diseases and growing adoption of brain health supplements among the elderly population in the US and Canada drive the growth of the North American brain health supplements market.
Key players
Key players operating in the brain health supplements market are Alternascript, Accelerated Intelligence, Liquid Health, Health Via Modern Nutrition Inc., Natural Factors USA, Onnit Labs, Inc., Purelife bioscience Co., Ltd., Quincy Bioscience – The Makers of Prevagen, Cerebral success, Amway Corp., Puori, Ocean Health Pte Ltd., Schiff.
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