A recent report published by Infinium Global Research on the brain health supplements market provides an in-depth analysis of segments and sub-segments in the global as well as regional brain health supplements market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional brain health supplements market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast, and dollar values of the global brain health supplements market. According to the report, the global brain health supplements was nearly worth USD 4.75 Billion in 2020 and will reach a value of over USD 8.40 Billion in 2026, growing with a CAGR of 10% during the forecast period of 2020-2026.
Given the vast interest, people have in maintaining and improving their brain health as they age, the GCBH has no doubt that the use of brain-brain supplements targeted at an increasingly aging population worldwide is growing and large numbers of people are already taking them. The 2019 AARP Brain Health and Dietary Supplements Survey show that more than a quarter of Americans age 50 and older are regularly taking supplements for their brain health. Twenty-six percent of adults take at least one supplement for brain-health reasons.
Growing health concerns over depression, anxiety, anti-aging, and sleep recovery issues among consumers, along with rising disposable income, are driving the market over the forecast period. The booming dietary supplements industry on account of health concerns mainly in developed countries is further expected to propel the market growth. Furthermore, factors such as rising self-directed users, and increasing willingness to improve brain functions are positively impacting the growth of the market. However, the lack of regulations and false claims of brain supplements are restraining the growth of the market. The main issue with all over-the-counter supplements is the lack of regulation. Moreover, growing awareness regarding preventive healthcare is anticipated to provide growth opportunities to the market players. The recent COVID-19 outbreak and the containment measures introduced by governments across the world have affected the pharmaceutical sector to a large extent. Consumer demand for brain supplements is increasing as customers look to support their immune health, boost overall wellness and reduce anxiety in the face of the COVID-19 pandemic. Since the beginning of March 2020, weekly brain supplement sales experienced growth of approximately 20%-140%, coupled with amplified social media interest.
Among the regions, North America holds the highest market share and expected to continue its growth followed by Europe. Higher awareness about brain supplements and preventive healthcare is the major driver for the growth of the market in North America. Europe holds a significant market share in the global brain supplements market due to the factors such as the availability of advanced products, increasing awareness about the benefits of brain supplements, high healthcare spending, and increasing government support for research & development. Asia Pacific is expected to hold the highest CAGR in the forecast period owing to the rising prevalence of diseases in this region.
The report on the global brain health supplements market covers segments such as product, supplement form, and application. On the basis of product, the sub-markets include natural molecules, herbal extract, and vitamins & minerals. On the basis of supplement form, the sub-markets include capsules, and others. On the basis of application, the sub-markets include memory enhancement, attention & focus, depression & mood, sleep & recovery, anti-aging & longevity, and stress & anxiety.
The report provides profiles of the companies in the market such as Purelife Bioscience Co., Ltd., Peak Nootropics, Teva Pharmaceutical Industries Ltd., HVMN Inc., AlternaScript, Liquid Health, Inc., Natural Factors Nutritional Products Ltd., Quincy Bioscience, Reckitt Benckiser Group plc. and Onnit Labs, Inc..
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the brain health supplements market. Moreover, the study highlights current market trends and provides forecast from 2020-2026. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.