Brain Health Supplement Market

Global Brain Health Supplement Market Size (2024 to 2029):

Global Brain Health Supplement market share value is expected to grow at a CAGR of 13.3% during the forecast period 2024-2029 to reach USD 20.61 billion by 2029 and 11.04 billion by 2024. 

Vitamins and supplements known for their brain-boosting properties, such as fish oil and Rhodiola rosea, are believed to support healthy brain function, with potential benefits for focus and memory, among others. Nootropics are natural substances or drugs that can have positive effects on brain function in healthy individuals and may also help counter age-related cognitive decline. These supplements, derived from sources like fish oils (rich in DHA, EPA, and omega-3 fatty acids), resveratrol, creatine, and caffeine, have been shown to enhance memory, mood, creativity, motivation, alertness, and overall cognitive function. The increasing prevalence of mental disorders worldwide, with 1 in 8 people affected, according to WHO's 2019 report, is driving a high demand for these supplements. As a result, the market for brain-boosting supplements is expected to experience substantial growth in the foreseeable future.

The increasing adoption of plant-based brain supplements for treating mental disorders and novel product launches, including innovations by major market players, provide numerous new growth opportunities in the brain health supplement market. For instance, Plant-based products like Ginseng, Ginkgo Biloba, Curcumin, and many more are in high demand these days since most consumers are adopting a vegan lifestyle, and also a change in consumer preference for plant-based sources due to their nutritional values, low calories, and inclination towards clean eating. On the other hand, rising health concerns related to lactose tolerance are also expected to have an opportunity for the growth of plant-based supplements in the brain health supplement market.

Global Brain Health Supplement Market Drivers:

The growth of the brain health supplement market can be attributed to the growing awareness surrounding mental health issues, such as depression, memory decline, lack of focus, and anxiety. With more than 55 million individuals worldwide suffering from dementia reported by World Health Organisation in 2023, with over 60% in low-middle-income countries, there is a significant demand for brain health supplements in countries with a high prevalence of mental disorders, which is expected to drive market growth during the forecasted period. Furthermore, the market is expected to witness additional growth due to the increasing adoption of natural and herbal health products, as well as the rising market demand from the sports industry to enhance the brain efficacy of players. These factors are anticipated to fuel the expansion of the global brain health supplement market size over the forecast period.

Global Brain Health Supplement Market Restraints:

The most concerning restraining factor for the brain health supplement market is the lack of FDA regulation and the prevalence of false claims made by these supplements. According to observations conducted by Harvard health education, approximately 25% of adults over the age of 50 consume brain health supplements with the hope of improving memory and enhancing attention and focus. However, the issue lies in the absence of solid evidence to support the effectiveness of these supplements. The main concern with over-the-counter brain health supplements is the lack of regulation by the FDA. For instance, unlike drugs, the FDA does not oversee product testing or verify ingredient accuracy for supplements, except when they make claims related to treating specific diseases. As a result, manufacturers can make claims about their products' benefits in terms of mental alertness or memory, but they cannot assert that the supplements protect against or improve conditions like dementia or Alzheimer's disease. Thus, the problem associated with the authenticity of brain health supplements and their effectiveness is expected to impede the market growth of the brain health supplement market. Consumers are hesitant to invest in products that lack strong scientific backing, leading to concerns and challenges in the market.

Impact Of COVID-19 on the Brain Health Supplement Market:

The global COVID-19 pandemic had a significant impact on businesses worldwide, disrupting their operations across various industries. To control the rapid spread of the disease, numerous countries implemented lockdown measures, resulting in the temporary closure of manufacturing facilities and a halt in production. Although after several restrictions and lockdowns, the brain health supplement market received a positive impact. The surge in consumer focus on mental well-being, coupled with the widespread decline in emotional and mental states during lockdowns, has led to an increased demand for sleep, anxiety, and mood supplements. However, the global availability of these products was affected due to scarcity of raw materials and supply chain disruptions caused by import and export restrictions imposed by various countries. These factors have significantly hindered the brain health supplement market growth during the pandemic period.

REPORT COVERAGE: 

  This research report on the Global Brain Health Supplement Market has been segmented and sub-segmented based on product, application, age group & region.  

Global Brain Health Supplement Market - By Product:

• Natural Molecules
• Herbal Extract
• Vitamins & Minerals

Based on the product, the leading product in the brain health supplement market is natural molecules in 2022, with a 40% market share. This is attributed to the growing demand for natural ingredient-based brain health supplements over synthetic ingredients used in manufacturing. Natural molecules containing acetyl-L-carnitine, pre/pro/postbiotics, citicoline, alpha-GPC, DHA, and much more help in enhancing clarity, alertness, focus, concentration, memory, and even mood. Companies are emphasizing natural ingredient-based supplements. Some notable companies like Quincy Bioscience, Reckitt Benckiser, and Thorne offer these types of supplements in the brain supplement market. On the other hand, vitamins & minerals are also expected to record the fastest CAGR due to the demand for supplements in day-to-day life and changing lifestyles. Therefore, it is anticipated to witness substantial market growth during the projected period.

Global Brain Health Supplement Market - By Application:

• Memory Enhancement
• Anti-aging & Longevity
• Stress & Anxiety
• Depression & Mood
• Attention & Focus
• Sleep & Recovery

Based on the application, memory enhancement has dominated the brain health supplement market till 2022 with a 25% market share and is expected to lead during the forecasted period. This market growth is driven by some of the common memory disorders like dementia, Alzheimer, encephalopathy, and many more. Memory loss is a natural physiological phenomenon that typically begins around the age of 45. As time passes, the brain's acuity and cognitive reasoning abilities decline. On the other hand, sleep & recovery and stress & anxiety are anticipated to have an equal market growth rate owing to an increasingly unhealthy lifestyle, and sleep patterns among individuals will lead to the growing brain health supplement market. 

Global Brain Health Supplement Market - By Age group:

• Geriatric
• Adult
• Pediatric

Based on age group, the adult age group has the largest market share with a 45% in 2022 for the brain health supplement market. This can be attributed to the adoption of a healthy lifestyle and awareness about mental health among middle age groups.On the other hand, the geriatric population also contributes a significant market share in the brain health supplement market. This is primarily due to the aging population, leading to an increased prevalence of memory disorders. Memory disorders in older individuals often exhibit characteristics associated with both Alzheimer's disease and cerebrovascular disease. For instance, the risk of cognitive decline significantly rises with advancing age, with approximately 5% of those aged 65 to 75, 10% of those aged 74 to 84, and about one-third of those over 85 experiencing moderate to severe dementia in Finland.Conversely, pediatrics is expected to record a moderate market share due to fewer cases recorded for children during the projected period of the brain health supplement market.

Global Brain Health Supplement Market - By Region:

• North America 

• Europe 

• Asia-Pacific 

• South America 

• Middle East & Africa 

Based on region, North America dominates the brain health supplements market in terms of global market share and revenue. This can be attributed primarily to the escalating prevalence of brain diseases in the region. Moreover, the well-established healthcare infrastructure and heightened awareness regarding neural disorders further contribute to the region's market growth. Over recent years, the demand for brain health supplements has seen significant growth in North America, driven by rising interest among consumers in products that enhance cognitive health. The increasing trend of health consciousness, especially among the younger population, has played a significant role in this upsurge. For instance, the American Association of Retired Persons (AARP) in June 2019 revealed that Americans aged 50 and above regularly consume substantial amounts of brain health supplements due to growing concerns about brain and cognitive well-being.Europe, on the other hand, is anticipated to witness substantial market growth due to the increasing adoption of natural and herbal health products, which is subjected to fuel the industry's growth over the forecast period.The Asia-Pacific region is projected to experience rapid development between 2023 and 2028, primarily driven by an increase in chronic disease cases and a rise in healthcare expenditure among the population. Additionally, the region is expected to witness significant market growth due to the growing accessibility of herbal plants, further boosting the demand for brain health supplements in this area.The rest of the world is also expected to experience considerable growth, with a noteworthy CAGR in the forecasted period.

KEY MARKET PLAYERS:  

Key Market Players Of Global Brain Health Supplement 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, Alternascript.

RECENT HAPPENINGS IN THE MARKET:

•  In Feb 2023, Teva Pharmaceuticals, a U.S. affiliate of Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA), recently announced the publication of the IMPACT-TD Scale, a clinician-rated assessment that is both standardized and user-friendly. This scale, developed by a consensus panel, is designed to aid healthcare providers in evaluating the impact of tardive dyskinesia (TD) on various aspects of a patient's daily functioning.
•  In June 2022, Onnit, the health and wellness company, expanded its collection of clinical trials with a new study aimed at validating the advantages of its "total human optimization" brand's diverse range of multi-ingredient supplements.