As per the latest report, sales of brain health supplements is witnessing remarkable growth, driven by increasing consumer awareness and demand for products that enhance cognitive function. With mental health concerns such as anxiety, depression, and dementia on the rise, consumers are turning to brain health supplements to improve memory, focus, and overall brain function. The market is expected to more than double in value, reaching US$ 15.18 billion by 2034, with a projected CAGR of 6.4%.
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 demand for brain health supplements is fueled by several factors, including rising consumer interest in cognitive enhancement, growing awareness of mental health, and a preference for natural ingredients. Consumers are increasingly seeking out products that offer cognitive benefits and support overall brain health. This demand is further boosted by the availability of a wide range of supplements catering to different cognitive needs and preferences.
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Growing Factors:
- Consumer Preference for Natural Ingredients: There is a growing preference for brain health supplements formulated with natural ingredients such as Ashwagandha, panax ginseng, and ginkgo biloba. Manufacturers are responding to this demand by incorporating natural ingredients into their products, driving sales in the market.
- Premiumization Trend: Consumers are willing to invest in higher quality brain health supplements, leading to an increased demand for premium brands. This trend towards ‘drink better’ choices is propelling the market forward and contributing to its growth.
- Rising Awareness of Mental Health: With mental health becoming a growing concern globally, consumers are increasingly turning to brain health supplements to support cognitive function and emotional well-being. This rising awareness is driving demand for brain health supplements across different age groups and demographics.
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
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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.
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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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