Brain Health Supplements Market Size & Share Analysis - Trends, Drivers, Competitive Landscape, and Forecasts (2024 - 2030)

Brain Health Supplements Market Size

Brain Health Supplements Market Trends & Growth Drivers

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 supplements. 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 being replaced in terms of both nutrition and taste.

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.
• Alzheimer’s prevalence increases with age, with the elderly being the largest patient pool. As per the Alzheimer’s Association, almost 5.6 million people over the age of 65 years suffer from this condition around the world.
• Depression is also common in this demographic, especially among people with CVD, cancer, or another chronic disease that degrades their quality of life.
• Brain health supplements can enable them to feel more satisfied and less sad, thereby allowing them to enjoy the daily life.

Absence of Regulations Regarding Manufacturing of Brain Health Supplements Is Major Restraint

• The absence of regulations regarding the production of brain health supplements, the product efficiency, and the misleading claims by the companies will be the major restraints for the market growth during the forecast period.
• The key players are launching their products without following any regulatory approval, which leads to products with deceptive and false claims entering the market. This is hampering the trust of the consumers in such products.
• In January 2024, the U.S. Food and Drug Administration (FDA) issued a new warning for the dietary supplements containing tianeptine ingredient, which is commonly known as gas station heroin. The product, sold under the name Neptune’s Fix, is associated with serious side-effects, including the loss of consciousness, seizures, and death.
• In February 2021, the FDA posted 12 warning letters as well as 5 online advisory letters for companies selling more than 58 dietary supplements products illegally. The products claim to treat, prevent, and cure Alzheimer’s disease and various other serious diseases that are currently incurable.

Brain Health Supplements Industry Outlook

Product Insights

• The herbal extracts category is projected to grow at the highest CAGR, of 8.7%, during 2024–2030. Herbal brain supplement products contain natural, plant-based ingredients, such as ginkgo biloba, curcumin, ginseng, and green tea extract, 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.
• 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.
• The natural molecules category held a revenue share of around 55% in the market in 2023. The dominating position of the category is due to the increasing demand for natural supplements over synthetic supplements. As a result, companies are emphasizing the use of natural molecules in their products.

During the study, we have covered the following products in the report:

• Natural Molecules (Largest Category)
• Herbal Extracts (Fastest-Growing Category)
• Vitamins and Minerals

Application Analysis

• In 2023, the memory enhancement category accounted for the largest revenue share, of around 30%, in the brain health supplements market, attributed to the rising awareness of mental health. As reported by the World Health Organization recent report, at present, over 55 million people around the world are living with dementia, and over 60% of them are living in low-and middle-income countries. Moreover, by 2030 and 2050, this number is predicted to reach 78 million and 139 million, respectively. Moreover, 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.
• 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.
• The depression & mood category is expected to advance at the highest rate of 8.9% in 2023. 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.

Below are the major applications covered in the report:

• Memory Enhancement (Largest Category)
• Attention & Focus
• Depression & Mood (Fastest-Growing Category)
• Sleep & Recovery
• Anti-Aging & Longevity
• Stress & Anxiety

North America Leads Global Market

• The global brain health supplements market was dominated by North America, with a revenue share of around 50%, in 2023. This is primarily attributed to the increasing concerns over cognitive and brain 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 of 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, of over 9.0%, 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.

The regions and countries analyzed in this report include:

• North America (Largest Regional Market)
  • U.S. (Larger and Faster-Growing Country Market)
  • Canada
• Europe
  • Germany (Largest Country Market)
  • U.K. (Fastest-Growing Country Market)
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia-Pacific (APAC) (Fastest-Growing Regional Market)
  • China (Largest Country Market)
  • Japan
  • India (Fastest-Growing Country Market)
  • South Korea
  • Australia
  • Rest of APAC
• Latin America (LATAM)
  • Brazil (Largest and Fastest-Growing Country Market)
  • Mexico
  • Rest of LATAM
• Middle East and Africa (MEA)
  • Saudi Arabia (Largest Country Market)
  • South Africa
  • U.A.E. (Fastest-Growing Country Market)
  • Rest of MEA

Brain Health Supplements Market Share

The global brain health supplements market is fragmented with the presence of several key players. In recent years, the market players have been involved in product launches in order to attain a significant position. Key players in the brain health supplements market are also engaging in acquisitions and raising funding, to gain competitive advantages.

Brain Health Supplements Market News

• In November 2023, NOW launched a dietary supplement for cognitive support: Calm & Focus with Zembrin & GABA. This product targets cognitive support in an increasingly stressed-out world.
• Intelligent Labs has announced the launch of its Lion's Mane Mushroom Extract capsules. This product improves cognitive function, concentration, memory, and learning. Through this launch, the company expanded its brain health supplement business.
• In May 2021, Intelligent Labs announced the launch of SENECA nootropic complex, a mental health supplement.
• In April 2021, Unilever Group announced the acquisition of Onnit Labs Inc. to expand its wellness and supplement brands portfolio.