Brain Health Supplements Market Size, Sector / Industry Report & Analysis 2020, & Forecast 2021-2026 (Includes Business Impact of COVID-19)

                                          
Abstract, Snapshot, Market Analysis & Market Definition: Global Brain Health Supplements Market


The global Brain Health Supplements market size is projected to reach US$ 11.65 billion by 2026, from US$ 7.26 billion in 2020, at a CAGR of 8.2% during 2021-2026. The market is driven by rising concerns among consumers over brain health issues such as memory enhancement, alertness, creativity, motivation, and attention, along with increase in adoption of herbal and natural products.

Increasing number of product innovations and promotional activities by the market players has also contributed to the growth of the market. For instance, in February 2019, Jone Scientific has launched a product called Sophrosyne with mind boosting ingredients for better functioning of cognition and memory. Moreover, rising incidence of dementia symptoms affecting the brain functions is expected to augment the demand for brain health supplements, thereby driving the global market.

Safety concerns pertaining to alzheimer andkorsakoff syndrome among the young population and addition of vitamins and minerals as multi ingredients are expected to drive the acceptance of these products in the market. Specialty products in the dietary supplements market of U.S. contributed to 18.0% in 2018. Rising disposable income, along with increasing awareness regarding healthy lifestyle among the middle aged population in the developing countries, has also increased the demand for these products.

Concerns pertaining to brain issues have been increasing at a high growth rate as compared to other health related problems in the last few years. In U.S., cognitive heath related issues have increased from 12.0% in 2006 to 74.0% in 2018. This growth is attributed to growing concerns over brain health diseases in the population. Rise in the sales of the products for anti-aging applications has also boosted the demand in the market.

Market Segmentation, Outlook & Viewpoint: Global Brain Health Supplements Market

Product Market Segmentation & Outlook (Revenue, USD Billion, 2014 - 2025)

  
Natural Molecules
  
Herbal Extract
  
Vitamins & Minerals

Application Market Segmentation & Outlook (Revenue, USD Billion, 2014 - 2025)

  
Memory Enhancement
  
Attention & Focus
  
Depression & Mood
  
Sleep & Recovery
  
Anti-aging & Longevity
  
Others

Key Players, Recent Developments & Regional Insights: Global Brain Health Supplements Market

Natural molecules accounted for the largest market share of 55.2% in 2018. The growth of this segment is attributed to rise in the mental health concerns among consumers. The nutritional content in these products helps in increasing the concentration level, reducing stress, depression, and anxiety, and elevating the mood, thus driving the product demand. For instance, in 2015, Jarrow Formulas in California, U.S., expanded its product line and introduced a product containing the naturally occurring phospholipid PS (phosphatidylserine) for the better memory and brain functions.

Herbal extract is the fastest growing product segment with a CAGR of 9.7% from 2019 to 2025. Herbal extract products have been witnessing high growth due to increasing awareness and benefits of natural products in the developed countries, such as U.S. and U.K. For instance, the sales of the herbal supplements in U.S. grew from USD 5.0 billion in 2010 to USD 8.1 billion in 2018. Moreover, the retail sales of the product have been attributed to the surge in the primary ingredients, such as cannabidiol, nigella, moringa, and mushrooms.
Application Insights

Memory enhancement accounts for the largest share of 26.1% in 2018. The growth is attributed to its growing demand among consumers engaged in the academic field. Moreover, demand for this application segment is increasing due to the prevalence of certain brain health diseases among the elderly population, thereby contributing to the growth of the market in the next few years.

Manufacturers are emphasizing on the attention and focus segment owing to benefits such as high performance, production, and productivity, especially among the working age population. The attention and focus application segment is expected to expand at the fastest CAGR of 9.6% from 2019 to 2025. Vitamins and minerals such as vitamin B, vitamin D3, omega 3 fatty acids, vitamin C, and magnesium aid in attention and focus, thus boosting the segment growth.

Regional Insights

In terms of revenue, North America held the largest market share of 39.3% in 2018. Demand in the region is predicted to rise due to increasing number of product launches having herbal and natural ingredients, thereby contributing to the growth of the market in the region. It has been estimated that the region accounted for 40.0% of the total product launches globally in 2017 for the dietary supplements in the market.
Asia Pacific is expected to expand at the highest CAGR of 11.8% over the forecast period, on account of rising demand for the herbal products. China is a major country contributing to increasing demand in the APAC market.
Brain Health Supplements Market Share Insights

Rising demand for the product such as natural and herbal has resulted in product innovations, and market developments, thereby fueling its demand in the market. The market is identified by several strategies such as acquisition and mergers, and product and technological innovation, and capacity expansion initiated by key manufacturers in the industry, such as Cephalon, Inc.; Nootrobox, Inc.; Purelife Bioscience Co Ltd.; Nootrico; Peak Nootropics; and SupNootropic Biological Technology Co. Ltd.

Key players in the industry are focusing on strengthening their presence in order to obtain a major share in the market. Strategic partnerships and joint ventures with buyers in order to introduce new applications and products are projected to remain critical success factors over the forecast period. Manufacturers are focusing on product launches and innovation catering particularly to the applications of memory enhancement and attention and focus. Moreover, they are increasing promotional activities and brand endorsements in order to raise awareness among consumers about the utility of natural ingredients.

Key Insights Covered: Global Brain Health Supplements Market

1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Brain Health Supplements industry.
2. Global major manufacturers operating situation (sales, revenue, growth rate and gross margin) of Brain Health Supplements industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Brain Health Supplements industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Brain Health Supplements industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Brain Health Supplements industry.

Research Methodology: Global Brain Health Supplements Market

  
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
  
Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
  
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other