Brain Health Supplement Market
As per the latest report, sales of brain health supplements are estimated to reach US$ 8,200 million in 2024, surging at 6.4% CAGR through the decade. By 2034, the global brain health supplement market value is projected to total US$ 15,180 million.
Demand is expected to remain high for natural ingredient-based brain health supplements. This can be attributed to growing consumer preference for natural and organic health supplements. The target segment is projected to account for a revenue share of 64.3% in 2024.
The global brain health supplement industry is anticipated to grow rapidly during the next ten years. This is due to a combination of factors, including:
- Rising geriatric population and increasing prevalence of mental disorders
- Growing awareness of the importance of mental health and well-being
- Increasing demand for brain supplements with herbal ingredients, minerals, and vitamins
- Rising online sales and increasing consumer spending on health supplements
- Growing interest in preventive healthcare
Demand for brain health supplements is projected to rise significantly during the assessment period. This is due to the high consumption of these supplements for improving an individual’s learning, memory, and thinking abilities.
Brain health supplements have multiple benefits for brain health and cognitive ability. They are widely used to treat disorders like Alzheimer’s disease. This will continue to fuel sales of brain health supplements during the assessment period.
People globally are becoming increasingly aware of the importance of mental health and well-being. This is expected to drive demand for brain health supplements supporting mental health and cognitive function.
According to the latest study, 60% of global consumers plan to improve their health and wellness over the next year. This will create lucrative growth opportunities for brain health supplement manufacturers during the assessment period.
Key Takeaways from the Market Study
- The global market for brain health supplements is estimated to reach US$ 15,180 million by 2034.
- By ingredient type, the natural segment is set to account for a value share of 3% in 2024.
- Based on product format, the over-the-counter segment is poised to hold a market share of 5% in 2024.
- By form, the capsules/tablets segment will likely account for a market share of 9% in 2024.
- The United States market is estimated to be valued at US$ 2,476.4 million in 2024.
- Sales in the United Kingdom are projected to surge at 3% through 2034.
“In the longer run, changing consumer preferences towards natural and herbal ingredients along with a willingness to spend more on premium brain health supplements is projected to provide profitable opportunities for market participants.” – Nandini Roy Choudhury, Client Partner at Future Market Insights
Who is Winning?
Mindbodygreen, Bulletproof, Brainmd, Qualia, Solgar, Metagenics, Pure Encapsulations, Designs for Health, Life Extension, Gaia Herbs, Reserveage Nutrition, Klaire Labs, and Superbeets are a few of the leading brain health supplement manufacturers listed in the report.
Key players are focusing on developing unique formulations like brain health gummies to attract customers. They are also embracing strategies such as celebrity endorsements, advertisements, partnerships, collaborations, distribution agreements, and acquisitions to boost their revenue and gain a competitive edge in the market.
For instance,
- In September 2022, Fonterra entered the brain health supplement industry by launching a new well-being solution brand, Nutiani.
Brain Health Supplement Market Segmentation
By Ingredient Type:
- Natural
- Panax Ginseng
- Ginkgo Biloba
- Asiatic Pennywort
- Ashwagandha
- Bacopa Monnieri
- Guarana
- Eleuthero
- Rhodiola Rosea
- Schisandra Chinensis
- Others (Maca)
- Synthetic
- Racetams
- Modafinil
- Sunifiram
- Phosphatidylserine
- Choline
- DMAE
- Unifiram
- Hydrafinil
- Citicoline
- Others (Adranfinil)
By Product Category:
- Prescribed
- Over-the-counter
By Form:
- Capsules/Tablets
- Powder
- Drinks
- Gummy
By Distribution Channel:
- Health Food Stores
- Pharmacies and Drugstores
- Professional Healthcare Practitioners
- Nutrition Stores
- Healthcare Professionals
- Online Retailers
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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