According to the latest analysis, the global memory support supplement market size is expected to reach US$ 4,989.4 million by 2034, up from US$ 2,467.1 million in 2024. By 2034, global memory support supplement sales are set to soar at 7.3% CAGR.
The mental health supplement market is expected to grow due to rising awareness of mental health conditions like concentration issues, memory loss, anxiety, and depression. The market is anticipated to experience growth due to the surging popularity of natural and herbal health products, as well as the demand for multi-efficacy medications.
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The global market is further expected to expand due to the sports industry’s demand for improved athletes’ brain effectiveness. Demand for memory support supplements is projected to rise among academic and professional individuals, particularly those with brain disorders like depression, dementia, anxiety, and sleeplessness.
The demand for memory support supplements is rising due to busy lifestyles and health concerns. These easy-to-consume products offer numerous health benefits, making them popular among consumers.
Online platforms are revolutionizing consumer shopping, allowing consumers to shop from the comfort of their homes. Manufacturers and suppliers are expanding their presence through e-commerce and online retail platforms, potentially generating increased sales and revenue.
Key Takeaways from the Market Study
- The global market is set to surge at a CAGR of3% during the forecast period.
- The United States is expected to register a CAGR of 5% through 2034.
- China’s memory support supplement market is projected to rise at 7% CAGR by 2034.
- Based on ingredient type, natural segment is expected to reach US$ 1,537.0 million in 2024.
- By form, the capsules/tablets segment is set to toral US$ 1,428.5 million in 2024.
“Consumers are shifting towards natural ingredient-based supplements, offering lucrative growth opportunities for memory support supplements manufacturers. Additionally, the use of convenient delivery forms and advanced technologies are influencing the market, as companies invest in sourcing naturally sourced ingredients.” –says a lead analyst at Future Market Insights (FMI).
Competitive Landscape
Leading memory support supplement manufacturers invest in research and development to create tailored formulations for specific needs. They aim to expand their presence in the market through new product launches, using strategies like partnerships, advertisements, celebrity endorsements, and distribution agreements to stay competitive.
For instance,
- In 2022, Onnit Labs, Inc. added a new clinical trial to understand the effects of its “new mood serotonin booster” medication, designed to help regulate stress and mood.
- In June 2021, ‘Neuro Booster’, a product designed to enhance brain health and aid Alzheimer’s patients by providing increased absorption of six essential functional foods was launched by Motiva Supplements.
Get More Valuable Insights
Future Market Insights (FMI), in its new offering, provides an unbiased analysis of the memory support supplement market presenting historical demand data (2019 to 2023) and forecast statistics for the period from 2024 to 2034.
The study incorporates compelling insights on the memory support supplement market based on ingredient type (natural and synthetic), product category (over-the-counter and prescribed), form (capsules/tablets, powder, drinks, and gummy), distribution channel (health food stores, pharmacies and drugstores, professional healthcare practitioners, nutrition stores, healthcare professionals, and online retailers), and region
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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