Global Brain Health Supplements Market To Generate $15,525.7 Million Revenue by 2030
- Published: July 2022
The brain health supplements market is projected to generate $15,525.7 million revenue in 2030, advancing at a CAGR of 7.8% during 2021–2030. The increasing demand for health supplements to improve the ability to manage stress and achieve stronger attention and memory and the rising elderly population are driving the market expansion.
Furthermore, the growing sports industry would contribute to the market growth during the forecast period (2022–2030) due to the need for strong concentration in various activities.
Natural Molecules Hold Dominating Share of Market
The global brain health supplements market, by product, is categorized into natural molecules, herbal extracts, and vitamins and minerals. Among these, the natural molecules category held a revenue share of around 55% in the market in 2021. The dominating position of the market 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.
Furthermore, the brain health supplements market, by application, is categorized into memory enhancement, attention & focus, depression & mood, sleep & recovery, anti-aging & longevity, and stress & anxiety. In 2021, the memory enhancement category accounted for the largest share in the market, as companies are introducing an ever-growing range of food supplements that aim at improving memory as consumers become more aware of the risks associated with cognitive decline and dementia.
Companies promote a range of products in stores and online as improving memory and cognitive function. These products are referred to as "smart drugs" or "nootropics."
APAC is set to witness the highest growth rate during the forecast period because of the increasing demand for supplements for stress, anxiety, depression, and mood management and memory enhancement. The demand for these products in the region is projected to increase due to the booming education sector and rising consciousness regarding sound brain health in nations, including Bangladesh, China, Japan, and India.
Acquisitions and Fundings Are Most-Effective Strategic Measures
Key players in the brain health supplements market have been extensively involved in acquisitions and raising funding, to gain competitive advantages.
For instance, in April 2021, Unilever Group announced the acquisition of Onnit Labs Inc. to expand its wellness and supplement brands portfolio.
Similarly, in November 2020, Health Via Modern Nutrition Inc. announced the receipt of funding of $5.5 million to expand its product portfolio of Ketone Ester and other supplements for brain health.
Key players in the brain health supplements market include AlternaScript LLC, Natrol LLC, Health Via Modern Nutrition Inc., KeyView Labs Inc., Natural Factors Nutritional Products Ltd., Onnit Labs Inc., Peak Nootropics LLC, and Purelife Bioscience Co. Ltd.