Summary
Major players in the brain health supplements market are Accelerated Intelligence Inc., AlternaScript LLC, Aurobindo Pharma Limited (Natroll LLC) , HVMN Inc., Intelligent Labs, KeyView Labs Inc., Liquid Health Inc., Natural Factors Nutritional Products Ltd., NOW Foods, Onnit Labs LLC, Peak Nootropics, Purelife Bioscience Co. Ltd., Quincy Bioscience LLC, Reckitt Benckiser Group plc, Teva Pharmaceutical Industries Ltd., and Vital Basics Inc.
The global brain health supplements market is expected to grow from $8.61 billion in 2022 to $9.60 billion in 2023 at a compound annual growth rate (CAGR) of 11.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The brain health supplements market is expected to grow to $14.61 billion in 2027 at a CAGR of 11.1%.
The brain health supplements market consists of sales of B Vitamins, caffeine, and L-theanine products.Values in this market are ‘nutraceuticals’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Brain health supplements refer to supplements that improve brain function in healthy individuals. It also improves memory, motivation, creativity, attentiveness, and the overall cognitive performance of the brain.
North America was the largest region in the brain health supplements market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the brain health supplements report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main products of brain health supplements are natural molecules, herbal extracts, vitamins, and minerals.Natural molecules refer to complex molecules composed largely of carbon atoms linked to other elements and/or carbon atoms.
These supplements are available in the form of tablets, capsules, and liquids distributed by supermarkets and hypermarkets, drug stores, and online. It is used for various applications such as memory enhancement, mood and depression, attention and focus, longevity and anti-aging, sleep and recovery, and anxiety.
An increase in the prevalence of brain diseases is expected to propel the growth of the brain health supplements market going forward.Brain diseases refer to disability that affects the brain and is considered a disorder.
Essential nutrient supplementation, such as long-chain polyunsaturated fatty acids, vitamin E, and mineral elements, may reduce inflammation, improve antioxidative defense, and reduce the risk.For Instance, in October 2022, according to a report released by BrightFocus Foundation, a US-based non-profit organization, it is expected that about 500k new instances of Alzheimer’s disease would be identified in the United States every year.
Alzheimer’s dementia affects 5% of those aged 65 to 74, 13% of those aged 75 to 84, and 33% of those aged 85 and older. Therefore, an increase in the prevalence of brain diseases is driving the growth of the brain health supplements market.
Product innovation is a key trend gaining popularity in the brain health supplements market.Major companies operating in the brain health supplements market are developing innovative products to sustain their position in the brain health supplements market.
For instance, in March 2022, Cosmos Holdings, a US-based pharmaceutical company, launched Proprietary Sky Premium Life Brainlit, an advanced formula to maintain and enhance brain function like Alzheimer’s, and other kinds of dementia, Parkinson’s, depression, and anxiety have all been on the rise in recent years, despite a substantial unmet demand for effective treatment alternatives. The Brainlit supplement is created with the best quality raw ingredients and includes Ginkgo biloba, glutamine and L-tyrosine, and other vitamins and minerals important for brain function.
In September 2021, HAVN Life Sciences, a Canada-based biotechnology company acquired Bennett’s Choice for an undisclosed amount.This acquisition adds a fresh and exceptional collection of patented formulas to our line of natural health products.
Bennett’s Choice is a Canada-based supplement development company.
The countries covered in the brain health supplements market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified) .
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The brain health supplements market research report is one of a series of new reports that provides brain health supplements market statistics, including brain health supplements industry global market size, regional shares, competitors with a brain health supplements market share, detailed brain health supplements market segments, market trends and opportunities, and any further data you may need to thrive in the brain health supplements industry. This brain health supplements market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
