The brain health supplements market size is projected to reach US$ 20.01 billion by 2031 from US$ 8.24 billion in 2023. The market is expected to register a CAGR of 11.7% during 2023–2031. Consumers rising preference for a gummy form of supplements is likely to remain a key trend in the market.
Brain Health Supplements Market Analysis
The brain health supplement market growth is attributed to growing public awareness of mental health conditions like depression, anxiety, and attention deficit disorders. Furthermore, it is projected that the growing popularity of natural and herbal health products will support the industry's expansion during the projection period. Increased R&D activity in this sector is anticipated due to the growing desire for multi-efficacy medications that can reduce anxiety, improve brain function, raise energy, and act as antidepressants. Furthermore, it is anticipated that the sports industry's growing desire for athletes to increase their brain efficacy would create growth prospects for the worldwide market.
Brain Health Supplements Market Overview
Brain health supplements strengthen brain function by improving memory concentration, imagination, mood, and inspiration in human individuals. Brain supplements and herbal extracts positively affect brain retention capacity and sharpen memory. Supplements are in the form of pills, capsules, soft gels, liquid or powdered form. The report analyses the basis of product, application, dosage form, distribution channel, age category, and geography. The growth of the global brain health supplements market is driven by the growing prevalence of major depressive disorder (MDD) and Increasing demand for brain supplements with a growing elderly population. However, the lack of regulations and false claims about brain health supplements hamper the market's growth.
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Brain Health Supplements Market: Strategic Insights
Market Size Value in US$ 6,634.31 Million in 2021 Market Size Value by US$ 14,249.53 Million by 2028 Growth rate CAGR of 11.7% from 2022 to 2028 Forecast Period 2022-2028 Base Year 2021
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Brain Health Supplements Market: Strategic Insights
| Market Size Value in | US$ 6,634.31 Million in 2021 |
| Market Size Value by | US$ 14,249.53 Million by 2028 |
| Growth rate | CAGR of 11.7% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2021 |
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Brain Health Supplements Market Drivers and Opportunities
Growing Prevalence of Major Depressive Disorders to Favor Market
Depression is a mental disorder, different from normal mood fluctuations and temporary emotional responses. It requires proper treatment, like medications, psychological treatments, and general measures like relaxation techniques. Different treatment options are often combined. If depression is recurrent with moderate or severe intensity, it may become a severe health issue. According to estimates by the WHO, 5% of adults (~280 million) suffer from depression globally. Cases of chronic depression are increasing in Europe. According to Eurostat, in 2019, 7.2% of European Union (EU) citizens had chronic depression. The prevalence of depression is higher in Asia-pacific compared to the rest of the world. According to the National Centre for Biotechnology Information (NCBI), there is growing evidence about the role of nutrients in mental health. The adequate consumption of nutrients contributes to better overall health and mental health. Hence, the optimum supply of nutrients as adjunctive therapy to antidepressant treatment is essential for adequate brain functioning. Thus, the growing prevalence of major depressive disorders is driving the growth of the brain health supplements market.
Rising demand for Brain Health Supplements from Asia Pacific
This growth is attributed to the growing mental illness, increasing geriatric population, and product launches by key players. For instance, DHC Ginkgo Biloba Brain Alpha Functional Indication Food is produced by DHC Japan. This supplement improves blood flow to the brain, maintains memory, and improves judgment accuracy. During the forecast period, China holds the largest share of the Asia-Pacific brain health supplement market. Depression is the most prevalent health burden among the Chinese population. According to the World Health Organization, ~54 million people in China suffer from depression, and 41 million suffer from anxiety disorders. According to research published in a Medicine Journal in 2022, the awareness rate of mental health knowledge was 66% among Chinese adolescents. As per Healthy China 2019–2030 targets, by 2030, ~80% of people are expected to access treatment for depression.
Brain Health Supplements Market Report Segmentation Analysis
Key segments that contributed to the derivation of the brain health supplements market analysis are product, application, dosage form, category, and, distribution channel.
- Based on product, the brain health supplements market is divided into natural molecules, herbal extracts, and vitamins & minerals. Vitamins and minerals is the prominent segment under the product segment.
- By application, the market is segmented into memory enhancement, attention & focus, depression & mood, sleep & recovery, antiaging & longevity, and others. The depression & mood segment held the largest share of the market in 2023.
- In terms of dosage form, the market is segmented into tablets, capsules, and others. The capsules segment held a significant share of the market in 2023.
- Based on Category the market is categorized into adult, children, and elderly. The adults segment is expected to growth at fastest CAGR in the forecast period.
- By Distribution channel, the brain health supplements market is divided into supermarket & hypermarket, pharmacy & drug store, online retail, and others.
Brain Health Supplements Market Share Analysis by Geography
The geographic scope of the brain health supplements market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
North America has dominated the market The US holds the largest share of the brain health supplement market in North America. According to the US Government Publishing Office, Washington, 2021, the US military spends ~100 million yearly on brain-enhancing drugs. These drugs are used under specific conditions to improve cognitive test scores and improve sleep for up to 90 hours. Because of continuous operations in training or deployment environments, service members are often challenged to achieve restorative sleep in these stressful environments. The key players in the brain health supplement market are taking initiatives to meet the growing demand for brain health supplements. For example, Health Via Modern Nutrition Inc. developed the Ketone-IQ nutritional brain supplement alongside the US military and top universities. These factors propel the barin health supplemets market in the region. Asia Pacific is anticipated to grow with the highest CAGR in the coming years.
Brain Health Supplements Market Report Scope
Brain Health Supplements Market News and Recent Developments
The brain health supplements market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the brain health supplements market are listed below:
- In January 2022, HVMN Inc. launched HVMN Ketone 2.0 (Ketone-IQ). It is designed to deliver clean energy to power the brain and body. (Source: HVMN Inc, Press Release, January 2022)
- In October 2021, Danone India launched AptaGrow, a health drink for children aged 3-6 years, which is scientifically designed with 37 nutrients that includes a unique blend of prebiotics & DHA for children's physical and cognitive development. (Source: Danon, Company Website, May 2024)
Brain Health Supplements Market Report Coverage and Deliverables
The “Brain Health Supplements Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Brain health supplements market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Brain health supplements market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- brain health supplements market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the brain health supplements market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product, Application, Dosage Form, Distribution Channel, and Age Category
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
North America dominated the global brain health supplements market in 2023.
Growing Prevalence of Major Depressive Disorders and strategic development initiatives by key market players are the major factors impacting the brain health supplements growth.
Rising preference for herbal supplements is likely to create key trend in the brain health supplements market.
Danone SA, Health Via Modern Nutrition Inc., LIQUID HEALTH, INC., Natural Factors, Unilever PLC, Peak Nootropics, Purelife Bioscience Co., Ltd., Quincy Bioscience, Procera Health, Harbin Pharmaceutical Group Co., Ltd. are the leading players operating in brain health supplements market.
The brain health supplement market is estimated to value 20.01 billion in 2031.
11.7% is the expectd CAGR of brain health supplements market.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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