NEWARK, Del, Feb. 26, 2024 (GLOBE NEWSWIRE) -- 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.
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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 64.3% in 2024.
- Based on product format, the over-the-counter segment is poised to hold a market share of 76.5% in 2024.
- By form, the capsules/tablets segment will likely account for a market share of 59.9% 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 14.3% 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
Authored by:
Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.
She has exceptional analytical skills and often brings thought leadership to the table.
Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.
Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India.
Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.
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