Dublin, Oct. 15, 2021 (GLOBE NEWSWIRE) -- The "Brain Health Supplements Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2021 To 2029" report has been added to ResearchAndMarkets.com's offering.
The global brain health supplement market is predicted to surge with rise in aging population and to combat neurological disorders. The market is expected to grow at a CAGR of 10% from 2021-2029.
Increasing awareness among college students, scientists, entrepreneurs and investment bankers are opting for memory enhancers to sharpen their minds to gain an edge on the competition. Brain health supplements are not new, they have been used since the 70s. It is anticipated that, brain health supplements industries would show significant market growth during forecast period.
The key factors assisting the market growth of brain health supplements are strong desire to enhance brain function among adult population, increase in population, increasing number of self-directed consumes and high penetration of promotional activities carried out by key players.
Alpha GPC occupies the largest market share
There are several ingredients are used throughout the world to enhance brain function such as Acetyl-L-Carnitine, Ginkgo, Ginseng, Alpha GPC, Bacopa Monnieri, DHA and Tryptopha. It is observed that Alpha GPC containing brain health supplements occupies largest market share. It is followed by Acetyl -L-Carnitine precursor for acetylcholine) and DHA (omega-3 form). It is anticipated that Bacopa Monnieri containing brain health supplements will be the fastest growing market among all with a CAGR of 21.4% for the forecasted period 2021-2029.
Memory enhancement segment anticipated to maintain its lead during the forecast period
For the purpose of this study, the key applications of brain health supplements are memory enhancement, mood and depression, attention and focus, longevity and anti-aging, sleep recovery and dream enhancement, and anxiety. In base year 2020, memory enhancement segment was observed to be the largest segment and is anticipated to maintain its lead during the forecast period of 2021-2029.
The key factors assisting the growth of memory enhancement segment include growing awareness regarding the benefits majorly in the college students, scientists, entrepreneurs and investment bankers are opting for memory enhancers to sharpen their minds to gain an edge on the competition.
Online stores held the largest segment in the brain health supplements market globally
The online stores held the largest market in the global brain health supplements market due to availability of wide variety of products as compared to supermarkets/hypermarkets and drug stores. The variety in price points, private labels, product launches, broad product ranges, and discounts offered have increased the popularity online stores. Moreover, the frequency of online searches has grown significantly in the past two years, creating greater business opportunities for the market.
The growth in the number of supermarkets and hypermarkets in developing countries, the nutritional product manufacturers are targeting supermarkets and hypermarkets to reach the masses would help supermarket/hypermarket segment grow at the steady rate during the forecast period.
Asia Pacific expected to project the highest growth
North America is the largest regional market for brain health supplements accounting more than 54.8% of market share in 2020. Strong desire to enhance brain function among adult population, higher number of baby boomer population and easy availability of quality products driving market growth in North America.
However, Europe is the expected to be the second largest regional market for brain health supplements, growth is mainly driven by the old and young population. Asia Pacific is expected to project highest growth throughout the forecast period owing to the populous countries, rising foreign investment in collaboration with the local players, economic development and increasing consumer awareness in upper-middle-income segment would drive.
Key Players Profiled
- Teva Pharmaceutical Industries Ltd.
- Purelife Bioscience Co. Ltd.
- Quincy Bioscience, LLC
- Natural Factors Nutritional Products Ltd.
- Liquid Health, Inc.
- HVMN Inc.
- Peak Nootropics
- AlternaScript LLC
The key strategies of these companies include research and innovation, through effective collaboration with different stake holders to leverage competitive benefits.
Other Companies Profiled
- Accelerated Intelligence, Inc.
- AlternaScript LLC
- Aurobindo Pharma Limited (Natroll, LLC)
- Ceretropic
- Clarity Nootropics
- HVMN Inc.
- KeyView Labs, Inc.
- Liftmode
- Liquid Health, Inc.
- Natural Factors Inc.
- Natural Factors Nutritional Products Ltd.
- Nootrico
- Nootropic Source
- Onnit Labs LLC
- OptiMind
- Peak Nootropics
- Powder City LLC
- Purelife Bioscience Co. Ltd.
- Quincy Bioscience, LLC
- Reckitt Benckiser Group plc
- SupNootropic Biological Technology Co. Ltd.
- Teva Pharmaceutical Industries Ltd.
Key Questions Answered
- What are the key market segments in the current scenario and in the future by product categories?
- What are the key market segments in the current scenario and in the future by regions?
- What is the key impact of COVID-19 over market revenues and market determinants in the Brain Health Supplements market?
- What are the primary and secondary macro and micro factors influencing the market growth currently and during the forecast period?
- What are the primary and secondary macro and micro factors deterring the market growth currently and during the forecast period?
- How to overcome the current market challenges and leverage the opportunities in each of the market segments?
- Who are the key players in the Brain Health Supplements market and what are their key product categories and strategies?
- What are the key strategies - mergers/acquisitions/R&D/strategic partnerships etc. that companies are deploying to enhance market revenues and growth?
For more information about this report visit https://www.researchandmarkets.com/r/djqi18
