Brain Health Supplements Market Size and Share Analysis by Product (Natural Molecules, Herbal Extracts, Vitamins and Minerals), Application (Memory Enhancement, Attention & Focus, Depression & Mood, Sleep & Recovery, Anti-Aging & Longevity, Stress & Anxiety) -Global Industry Growth Forecast to 2030

Market Overview

The global brain health supplements market size was estimated to be $7,910.1 million in 2021, and it is expected to reach $15,525.7 million by 2030, advancing with a CAGR of 7.8% during 2021–2030. The growing demand for health supplements to improve attention and memory and the ability to manage stress, especially among the elderly, is driving the market expansion.

Growing Trend of Veganism Leading To Shift toward Plant-Based Products

The growing trend of veganism across the globe is heavily impacting the landscape of food and vitamin supplement. Consumers who showcase an inclination toward turning vegan as well as opting for a healthy lifestyle are shifting toward plant-based omega-3 supplements.

People’s interest in veganism has increased sevenfold over the past five to six years. For example, in the U.K., the Waitrose & Partners supermarket chain has launched dedicated vegan sections in more than 130 stores, after expanding its vegan and vegetarian product range by 60%. It was found that vegetarians have a 32% lower chance of heart diseases. Such studies are trending across the global healthcare industry and are further encouraging the population to adopt plant-based food. By sourcing omega-3 from algae, the seafood counterpart—fish oil—is gradually getting replaced in terms of both nutrition and taste.

Changing Lifestyles Driving Demand for Brain Supplements

Regular use of any supplement is reported by 47% of the women and 41% of the men, while vitamin and mineral supplements are taken by 40% and 33%, respectively. Poor or unbalanced diets, often caused by lifestyle variables, have driven the market for brain health supplements, by causing vitamin and mineral deficiencies.

Most-Extensive Application Area Is Memory Enhancement

In 2021, the memory enhancement category accounted for the largest revenue share, of around 30%, in the brain health supplements market, attributed to the rising awareness about mental health. As reported by Alzheimer’s Disease International, 55 million people around the world were living with dementia in 2020. Moreover, by 2030 and 2050, this number is predicted to reach 78 million and 139 million, respectively. Moreover, as per the WHO, Alzheimer’s disease results in almost 70% of the dementia cases worldwide. People are now more aware of such diseases, thus propelling the demand for supplements that can help maintain a strong memory.

The depression & mood category is expected to advance at the highest rate. Depression can afflict people of any age, including youngsters, but older persons are the most likely to suffer from it. The rising occurrence of depression and the increasing understanding of how to prevent it are driving the market for depression mitigation and mood enhancement supplements.

Furthermore, the stress & anxiety category is set to be the second-fastest-growing category. According to a government agency, nearly 1 in 3 aged 13 to 18 will experience an anxiety disorder at some point. Additionally, according to the WHO, the COVID-19 pandemic triggered a 25% increase in the prevalence of anxiety and depression worldwide. This increasing stress and anxiety level among people will be responsible for the market category’s growth during the forecast period.

Online Purchase of Brain Supplements Is Key Market Trend

Individuals' hectic and busy schedules have made them switch from physical purchasing to online shopping. Consumers can find product reviews and other related information on online buying platforms. Supplement companies are opening new sales channels in order to reach a wider range of customers. The increasing popularity of online buying has expanded the market for brain supplements, especially during the COVID-19 pandemic, when people were forced inside their homes.

Herbal Extracts Category To Grow at Highest CAGR

Herbal brain supplement products use natural, plant-based ingredients, such as ginkgo biloba, curcumin, ginseng, and green tea extracts, which aid in sharpening the memory and increasing the blood flow to the brain, thereby improving cognitive functioning and reducing mental tiredness. The need for brain supplements containing herbal extracts will increase with the rising preference for herbal products in developing countries, including China and India. Herbal medicines used in traditional Chinese medicine are sometimes marketed as supplements in the U.S. and Europe. Owing to such factors, the herbal extract category is expected to grow at the highest CAGR.

Further, the vitamins and minerals category is set to grow with a significant rate during the forecast period, as several vitamins and minerals are essential for the brain to function properly. For instance, vitamin B1 aids in brain nerve communication, B2 relieves headaches and promotes energy production, and B9 promotes brain health and mood. In the same way, omega-3 promotes brain health. Multivitamin formulations with or without minerals are typically the most-common type of supplements. In this regard, the increase in the prevalence of vitamin insufficiency is projected to propel the market growth in this category.

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Growing Geriatric Population Major Driver for Industry

According to the WHO, between 2015 and 2050, the proportion of the world's population over 60 years will nearly double from 12% to 22%. Elderly people are more prone to depressive disorders and neurological conditions, including Alzheimer's, migraine, Parkinson's, and insomnia. Therefore, the growing elderly population considerably increases the need for these supplements, thus supporting the market growth.

North America Leads Global Market

The global brain health supplements market was dominated by North America, with an estimated revenue share of around 40%, in 2021. This is primarily attributed to the increasing concerns over brain and cognitive health, along with the presence of prominent players in the region. In addition, the booming sports and fitness industry is responsible for the dominant share of the region on the market, as several sports require people to concentrate strongly.

Europe is also expected to witness a significant demand for brain health supplements in the coming years. The growing awareness about mental wellbeing is the key reason behind the high growth rate of the market in the region. In addition, the rising occurrence of Alzheimer’s disease in advanced economies, such as Italy, Germany, and Spain, has widened the scope for these supplements in the region.

APAC is expected to witness the fastest growth, over 8%, in the brain health supplements market during the forecast period. The rising concerns for brain disorders and need for stress & anxiety and anti-aging & longevity management are the key drivers for the regional market. Furthermore, the region's demand for these products would be fueled by the rapidly expanding education sector and growing awareness of the importance of brain health in countries such as Bangladesh, China, Japan, and India.

The rising urban population, increasing focus on health education, and augmenting health consciousness among consumers are the key factors leading to the increasing consumption of food supplements, including vitamin supplements for the brain, especially in developing countries, such as China and India. The increasing preference for vitamins in the daily diet is attributed, in part, to the rising disposable income of the population.

Key Players Are Involved in Product Launches to Gain Significant Position

Key players are actively engaging in product launches in order to strengthen their portfolios and achieve a larger market share. For instance,

• In May 2021, Intelligent Labs announced the launch of SENECA nootropic complex, a mental health supplement.

Key Players in Global Brain Health Supplements Market Are:

• AlternaScript LLC
• Natrol LLC
• Health Via Modern Nutrition Inc.
• KeyView Labs Inc.
• Natural Factors Nutritional Products Ltd.
• Onnit Labs Inc.
• Peak Nootropics LLC
• Purelife Bioscience Co. Ltd.

Market Size Breakdown by Segment

The research offers the size of the global brain health supplements market for the period 2017–2030.

Based on Product

• Natural Molecules
• Herbal Extracts
• Vitamins and Minerals

Based on Application

• Memory Enhancement
• Attention & Focus
• Depression & Mood
• Sleep & Recovery
• Anti-Aging & Longevity
• Stress & Anxiety

Geographical Analysis

• North America
  • U.S.
  • Canada
• Europe
  • France
  • Germany
  • Italy
  • Spain
  • U.K.
• Asia-Pacific
  • China
  • India
  • Japan
  • Australia
• Latin America
  • Brazil
  • Mexico
• Middle East and Africa
  • Saudi Arabia
  • South Africa