DUBLIN, April 28, 2022--(BUSINESS WIRE)--The "Brain Health Supplements Market by Age Group, Product, Application, Supplement Form, and Sales Channel: Global Opportunity Analysis and Industry Forecast, 2021-2030" report has been added to ResearchAndMarkets.com's offering.
Global brain health supplement market size was valued at $7,653.4 million in 2020, and is projected to reach $19,730.1 million by 2030, registering a CAGR of 9.9% from 2021 to 2030.
Brain health supplements are used to enhance brain functions such as improve memory, mood stabilization, and sleep restoration. In addition, brain health supplements are used to treat Alzheimer's and dementia. For children, brain health supplements are used to improve memory functioning.
Brain health supplements include herbal plant extracts, vitamins & minerals, and other natural molecules. The herbal plants such as Ginseng, Ginkgo biloba, Curcumin, Lions mane, and Bacopa monnieri are used for memory enhancement and neuroprotective activities. These herbal plant extracts are marketed in the form of tablets, capsules, and powder.
Factors that drive the growth of the brain health supplements market include rise in of geriatric population, increase in prevalence of brain diseases, and surge in healthcare expenditure. For instance, according to the Centers for Disease Control And Prevention (CDC), in 2020, it was reported that around 5.8 million Americans are diagnosed with Alzheimer's disease.
Furthermore, brain health supplements are not marketed as pharmaceutical drugs but widely available in supermarkets and grocery stores. Increase in demand to enhance immunity and rise in number of supermarket drive the growth of the brain health supplements market.
Depending on age group, the market is classified into children, adults, and elderly. The elderly segment dominated the market in 2020, and this trend is expected to continue during the forecast period, owing to rise in prevalence of brain diseases such as dementia Alzheimer's among elderly individuals.
By product, the brain health supplement market is categorized into herbal extract, vitamins & minerals, and natural molecules. The herbal extract segment dominated the market in 2020, and this trend is expected to continue during the forecast period, owing to surge in demand for herbal products and rise in awareness about natural healthcare supplements.
Depending on application, the market is classified into memory enhancement, mood & depression, attention & focus, longevity & anti-aging, sleep & recovery, and anxiety. The anxiety segment dominated the market in 2020, and this trend is expected to continue during the forecast period, owing to prevalence of anxiety disorder and rise in sedentary lifestyle.
By supplement form, the market is divided into tablets, capsules, and others. The capsules segment dominated the market in 2020, and this trend is expected to continue during the forecast period, owing to ease of formulation development and advancement in pharmaceutical sectors to manufacture safe and effective supplement form.
As per sales channel, the brain health supplement market is categorized into supermarkets & hypermarkets, drug stores, online stores, and others. The drug stores segment dominated the market in 2020, and this trend is expected to continue during the forecast period, owing to increase in number of drug stores.
The COVID-19 outbreak is anticipated to have a positive impact on the growth of the brain health supplements market. The COVID-19 pandemic has stressed healthcare systems in the world. The minimum adverse reaction of herbal plants increases adaption of herbal products by people. Moreover, increase in consumption of supplements product during pandemic boosts the immunity and enhance the brain function. Furthermore, online availability of herbal products contributes toward the market growth.
Key Findings Of Study
On the basis of age group, the elderly was the highest contributor to the market in 2020
By product, the herbal extract segment dominated the market in 2020
On the basis of application, the anxiety segment exhibited the highest growth in 2020
Based on of supplement form, the capsules segment led the market in 2020
Depending on sales channel, the drug channel segment dominated the market in 2020
On the basis of region, North America garnered the largest revenue share in 2020, whereas Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period
North America accounted for a majority of the global brain health supplements market share in 2020, and is anticipated to remain dominant during the forecast period, due to increase in prevalence of brain disease, advancement in R&D activities for herbal supplements, and surge in adoption of brain health supplements products Asia-Pacific is anticipated to witness lucrative growth, owing to increase in number of key players to manufacture brain health supplements, increase in incidence of Alzheimer's, and surge in demand for supplements to enhance immunity
KEY MARKET SEGMENTS
By Age Group
Other Herbal Extracts
Vitamins & Minerals
Vitamin C & E
Other vitamins & minerals
Docosahexaenoic Acid (DHA)
Other Natural Molecules
Mood & Depression
Attention & Focus
Longevity & Anti-aging
Sleep & Recovery
By Supplement Form
By Sales Channel
Supermarkets & Hypermarkets
Rest of Europe
Rest of Asia Pacific
Rest of LAMEA
KEY MARKET PLAYERS
Accelerated Intelligence Inc
KeyView Labs, Inc
Liquid Health, Inc
Natural Factors Nutritional Products Ltd
Onnit Labs, LLC
Purelife Bioscience Co, Ltd
Quincy Bioscience, LLC
For more information about this report visit https://www.researchandmarkets.com/r/y8hncl
View source version on businesswire.com: https://www.businesswire.com/news/home/20220428005603/en/
Laura Wood, Senior Press Manager
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900