Brain Health Supplements Market

Market Overview

The global brain health supplements market size was valued at USD 7.60 billion in 2021 and is predicted to reach USD 15.59 billion by 2030, increasing at a CAGR of 8.31% from 2022 to 2030.

 Various natural and herbal dietary ingredients are used to enhance brain function by using brain health supplements. Fortified with ginseng, echinacea, ginkgo biloba, curcumin, and lion's mane, as well as vitamins, amino acids, minerals, and bioflavonoids, these supplements are sure to help. Tablets, capsules, soft gels, powders, and syrups are all frequent forms of these supplements. Memory, concentration, attention, sleep recovery, mood management, ageing, and motor abilities can all benefit from the use of cognitive enhancers. Brain health supplements can help reduce the risk of acquiring anxiety, dementia, depression, Alzheimer's and other neurological degenerative conditions if taken on a regular basis, as well.

Supplements for brain health are natural substances that have positive effects on the brain. Bacopa monniera and Withania somnifera, two herbal herbs, have been shown to have brain-enhancing properties. Vitamin B and C are also important for the functioning of the brain and nervous system.

R&D activities in herbal ingredients are the primary driver of growth in the global market for brain health supplements. The therapeutic properties and potential pharmacological applications of herbal medicines are being studied. There has also been a rise in the number of major manufacturers of brain health supplements products.

Market Dynamics

 Market Drivers

• Mental Health Issues Are Becoming More Common

Dementia, Alzheimer, and brain cancer will all rise in prevalence in the next years, which is expected to boost the market's growth. The World Health Organization (WHO) announced in September 2021 that 55 million individuals worldwide were afflicted with dementia, and roughly 10 million new cases were diagnosed each year.

Additionally, the ageing population is fueling the expansion of the market for brain health supplements. This is because Alzheimer's and other forms of dementia are so common among the elderly. People 65 and older will account for 23% of all Americans by 2060, according to a Population Reference Bureau analysis. This represents a nearly two-thirds increase from the current population of 52 million people.

• Increasing R&D Expenditures and A Burgeoning Online Sales Channel

R&D initiatives in herbal ingredients are largely to blame for the rising demand for brain-health supplements around the world. Various health benefits can be realized from using organic drugs or supplements. Thus, the growth of the market is influenced by the increase in the number of essential players producing brain health supplement products.

Because of people's hectic schedules and mental stress caused by financial or familial issues, the need for brain health supplements is increasing. Market growth is being fueled by the product's accessibility at the local pharmacy. As a result, the market for brain health supplements is growing as the number of drugstores increases. Internet sales are also expected to develop at a rapid pace over the projection period, which will help the market grow even more. Consumers worldwide are more concerned about convenience, which is fueling the growth of online shopping.

 Market Restraints

• The Absence of Laws Governing the Production of Supplements

The expansion of the market for brain health supplements is expected to be hampered during the forecast period by a number of important issues, including a lack of laws governing the production of supplements and false claims regarding the effectiveness of the product. It is possible for manufacturing enterprises to debut their products without first receiving approval from the relevant regulatory bodies. This can result in items that make deceptive or exaggerated claims, which in turn can damage consumers' trust in the products in question.

For instance, the Food and Drug Administration (FDA) of the United States posted 12 warning letters and 5 online advisory letters in February 2019 to companies that were illegally selling more than 58 dietary supplement products with the claim that they could prevent, treat, or cure Alzheimer's disease as well as a number of other serious diseases and health conditions.

Global Market Opportunites

• New Opportunities Are Opening Up as A Result of Technological Advances

Other growth-inducing aspects include various product improvements, such as the debut of variations created using organic components cultivated using sustainable ways. These variants are manufactured using organic materials farmed using sustainable methods. Consumers are also more aware of the benefits of naturally derived, high-quality dietary supplements, and they are increasingly using these products to cover the nutritional gaps that are present in their usual meals. The key players in the market are concentrating their efforts on the adoption of organic growth strategies such as product launches in order to bolster their position in the worldwide market for brain health supplements. For instance, in July of 2017, Mannatech, Incorporated made the announcement that the GinMAX pills (Ginseng Supplement) would be available to the company's clients in China. Tablets of GinMAX are taken to naturally improve focus and memory, as well as to reduce feelings of exhaustion. Throughout the period covered by the projections, each of these is going to offer attractive opportunities.

Regional Analysis

The global brain health supplements market share is segmented by geography into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

In 2021, the most significant contribution to the market was produced by North America. The demand for the product in North America is being driven by the growing worries surrounding mental health that are prevalent among customers. According to data that will be published by the United States National Library of Medicine in April 2020, close to 75 percent of the adult population in the United States consumes dietary supplements that improve brain health, energy, and performance. These supplements contain vitamins, minerals, and herbal ingredients. These tendencies will almost certainly contribute to the growth of the market in the country. According to research that was released by the American Psychological Association in October 2020, loneliness and uncertainty about the future are major stressors for adolescents and young adults in the United States. As a result, it is anticipated that an increasing number of adults will consume brain health supplements in order to ensure that their brains are able to properly perform their functions.

From 2022 until 2030, the Asia Pacific region will experience the highest growth rate. Demand in the region for the product is anticipated to increase in the not-too-distant future as a result of the rapidly expanding education sector in China and Japan, in addition to the growing knowledge about the importance of maintaining healthy brain function. For the purpose of the production of natural pharmaceuticals, multinational corporations have formed partnerships with local corporations in China and India. Over the course of the projection period, this trend is anticipated to generate growth prospects for items that are organically sourced. The increasing prevalence of Alzheimer's disease in developing countries like China and India has increased the need for memory-improving supplements in that part of the world. Also, the number of people living with dementia in this region is expected to skyrocket from 23 million in the year 2015 to roughly 71 million in the year 2050. Over the course of the forecast period, demand for memory enhancer products in this area is anticipated to increase as a result of the increased awareness about Alzheimer's disease and other forms of dementia.

Segmental Analysis

The global brain health supplements market share is divided into different segments according to the Product, Application, and Region (Geography).

By Product, the global market is segmented into Natural Molecules, Herbal Extract, and Vitamins and Minerals. Global revenue in 2021 was dominated by the natural molecule segment, which is likely to hold its position during the projection period. Growth in this market is expected to be spurred by a shift away from synthetic brain supplements toward natural brain supplements derived from natural substances. In addition, businesses are putting more emphasis on employing natural ingredients in their goods. When Reckitt Benckiser Group plc debuted Neuriva in April 2019, it included two plant-sourced Sharp Phosphatidylserine (PS) and Neurofactor components, both of which are GMO-free and natural.

A 6.88 percent compound annual growth rate (CAGR) is predicted for the vitamins and minerals market throughout the forecast period. Demand for vitamins and minerals is likely to rise as more people become aware of their health benefits. Age-related cognitive decline and developmental diseases such as Alzheimer's disease and dementia can be prevented in part by taking vitamins and minerals. Ascorbic acid (vitamin C), thiamine (vitamin B1), folic acid (vitamin B9), ascorbic acid (vitamin B9) and the minerals calcium, magnesium and zinc have been shown in studies to increase different areas of cognitive functioning including concentration, learning and memory.

By Application, the global market is segmented into Memory Enhancement, Attention and Focus, Depression and Mood, Sleep and Recovery, Anti-aging and Longevity, and Stress & Anxiety. As of 2021, memory-enhancement products accounted for the highest share of global revenue, and this trend is likely to continue over the next few years. It is becoming increasingly common for millennials to participate in a wide range of activities, from adventure sports to social gatherings to part-time jobs, that demand them to remain alert throughout the day. As a result, the demand for these products is likely to rise as people's lives change. In nations such as Germany, Italy, France, and Austria, the Organization for Economic Co-operation and Development has shown a growth in the trend of part-time employment. The market for memory supplements is predicted to rise due to a shift in consumer lifestyles over the next few years.

Over the projected period, the depression and mood segment is expected to rise at a CAGR of 8.97 percent. Consumers throughout the world are increasingly turning to brain health supplements as antidepressants. Natural brain supplements contain herbal extracts such as panax ginseng and green tea, which diminish activity in the adrenal cortex during stressful times and promote blood circulation, thus soothing the mind. In 2021, an estimated 280 million people will be affected by depression worldwide, according to a WHO assessment. In the same way, according to the Anxiety & Depression Association of America, MDD will impact over 16.1 million American adults, or about 6.7% of the country's population over the age of 18, by 2020.

By Region, the global market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In 2021, North America accounted for the greatest share of the market. North American consumers are more concerned about their mental health, which is fueling the demand for the product. 2022 through 2030, Asia Pacific will be the fastest-growing region. Increased awareness of brain health and the rapid growth of the educational sector in developing nations like China and Japan are likely to drive regional demand for this product.

Recent Developments

• June 2022 - The issue over Aurobindo's Abbreviated New Drug Application ("ANDA") for a generic deutetrabenazine product has been resolved by an agreement between Teva Branded Pharmaceutical Products R&D, Inc. and Auspex Pharmaceuticals, Inc., two U.S. subsidiaries of Teva Pharmaceutical Industries Ltd. AUSTEDO® (deutetrabenazine), a product of Teva, is covered by a variety of patents that Teva has asserted against Aurobindo in a patent infringement lawsuit.
• January 2022 - Ketone-IQTM is the next generation of the unique drinkable ketone that was developed by Health Via Modern Nutrition (HVMN), a firm that specializes in metabolic health and was an early pioneer in the development of drinkable ketone technology.