Dublin, Jan. 12, 2023 (GLOBE NEWSWIRE) -- The "Brain Health Supplements Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2022 to 2030" report has been added to ResearchAndMarkets.com's offering.
The brain health supplement market is predicted to surge with rise in aging population and to combat neurological disorders. The Brain Health Supplements Market is expected to grow at a CAGR of 10% from 2022 - 2030.
Brain health supplements are used to enhance memory, attention, mood, creativity, motivation in healthy individuals. 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 newer, they have been used since 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, BacopaMonnieri, DHA and Tryptopha. It is observed that Alpha GPC containing brain health supplements occupies the largest market share.
It is followed by Acetyl - L-Carnitine precursor for acetylcholine) and DHA (omega-3 form). It is anticipated that BacopaMonnieri containing brain health supplements will be the fastest growing market among the all with CAGR of 21.4% for the forecasted period 2022- 2030.
Memory Enhancement segment is 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 2021, memory enhancement segment was observed to be the largest segment and is anticipated to maintain its lead during the forecast period of 2022 - 2030.
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 market 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 is expected to project highest growth
North America is the largest regional market for brain health supplements accounting more than 54.8% of market share in 2021. 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.
Market Segmentation
Ingredient Type
- Acetyl-L-Carnitine
- Ginkgo
- Ginseng
- Alpha GPC
- Bacopa Monnieri
- Docosahexaenoic Acid
- Tryptophan
- Others
Applications
- Memory Enhancement
- Mood and Depression
- Attention and Focus
- Longevity and Anti-aging
- Sleep, Recovery and Dream Enhancement
- Anxiety
Sales Channel
- Supermarkets and Hypermarkets
- Drug Stores
- Online Stores
Key Topics Covered:
1. Preface
2. Executive Summary
3. Brain Health Supplements Market: Competitive Analysis
4. Brain Health Supplements Market: Macro Analysis & Market Dynamics
5. Brain Health Supplements Market: By Ingredient Type, 2020-2030, USD (Million)
6. Brain Health Supplements Market: By Applications, 2020-2030, USD (Million)
7. Brain Health Supplements Market: By Sales Channel, 2020-2030, USD (Million)
8. North America Brain Health Supplements Market, 2020-2030, USD (Million)
9. UK and European Union Brain Health Supplements Market, 2020-2030, USD (Million)
10. Asia Pacific Brain Health Supplements Market, 2020-2030, USD (Million)
11. Latin America Brain Health Supplements Market, 2020-2030, USD (Million)
12. Middle East and Africa Brain Health Supplements Market, 2020-2030, USD (Million)
13. Company Profile
Companies Mentioned
- 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
- Nootrico
- SupNootropic Biological Technology Co Ltd
- Accelerated Intelligence Inc
- Onnit Labs LLC
- Powder City LLC
- Ceretropic
- Nootropic Source
- Clarity Nootropics
- Liftmode
- Natural Factors Inc
- OptiMind
- Aurobindo Pharma Limited (Natroll LLC)
- KeyView Labs Inc.
- Reckitt Benckiser Group plc.
For more information about this report visit https://www.researchandmarkets.com/r/7pxy2o
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