Brain Health Supplements Market Size 2024-2028

The global brain health supplements market size is estimated to grow by USD 4.77 billion at a CAGR of 8.9% between 2022 and 2028. 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.

What will be the Size of the Market During the Forecast Period?

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End-User Analysis

The adult segment is estimated to witness significant growth during the forecast period. 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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The adult segment was valued at USD 4.01 billion in 2018. Brain health supplements have gained significant attention in the market due to their potential benefits on cognitive abilities, memory, concentration, focus, energy, mood, motivation, and long-term brain health. These supplements often contain natural ingredients such as Omega-3 fatty acids, Docosahexaenoic acid (DHA), Vinpocetine, Bacopa monnieri, Vitamin D, and Vitamin B12, which are essential for brain function and development. Herbal extracts like Ginkgo biloba and Bacopa monnieri are commonly used to enhance cognitive performance and improve memory and concentration. Hence, such factors are fuelling the growth of this segment which in turn drives the market growth during the forecast period.

Children

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. Hence, such factors are fuelling the growth of this segment which in turn drives the market growth during the forecast period.

Distribution Channel Analysis

Retail

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. Hence, such factors are fuelling the growth of this segment which in turn drives the market growth during the forecast period.

Online

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. Hence, such factors are fuelling the growth of this segment which in turn drives the market growth during the forecast period.

Regional Analysis

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North America is estimated to contribute 39% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that will shape the market during the forecast period. 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 the market in the region during the forecast period.

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Key Market Players 

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:

Abbott Laboratories: The company offers brain health supplements such as DHA milk powder, Similac powder, and Similac 360 total care.

Amway Corp., Archer Daniels Midland Co., BASF SE, Bayer AG, BrainMD Health, Cyanotech Corp., Dermapharm Holding SE, Glanbia plc, Herbal Goodness, Herbalife International of America Inc., Hi Tech Pharmaceuticals Inc., Jacobson Pharma Corp. Ltd., Jarrow Formulas Inc., Koninklijke DSM NV, Liquid Health Inc., Natural Factors Nutritional Products Ltd., NOW Health Group Inc., Quincy Bioscience, and Thorne HealthTech Inc.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Market Dynamics and Customer Landscape

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 2023 as the base year, along with the key drivers, trends, and challenges. 

Key Market Driver

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 the market 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 market in focus during the forecast period.

Significant Market Trends

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.

Moreover, 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.

Major Market Challenge

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.

Market Customer Landscape

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.

 Customer Landscape

Segment Overview

The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.

• End-user Outlook 
  • Adult
  • Children
•  Distribution channel Outlook 
  • Retail
  • Online
• Region Outlook 
  • North America
    • The U.S.
    • Canada
  • Europe
    • The U.K.
    • Germany
    • France
    • Rest of Europe
  • Asia
    • China
    • India
  • ROW
    • Argentina
    • Brazil
    • Rest of the World

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Market Analyst Overview

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. The market landscape depends on Attention & focus, Longevity & anti-aging
and the Sleep & recovery. 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.

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What are the Key Data Covered in this Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the between 2023 and 2028
• Precise estimation of the size and its contribution of the market in focus to the parent market
• Detailed market growth and forecasting analysis of customer landscape covering Diver of price sensitivity, Adoption of the lifecycle, and key purchase criteria 
• Companies landscape comparing criticality of inputs and factors of differentiation
• Exclusive Matrix on companies position and classification
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the market industry across North America, Europe, Asia, and Rest of World (ROW)
• Thorough Market forecasting analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive market forecast analysis of factors that will challenge the growth of companies