Global Brain Health Supplements Market 2024-2031

Brain Health Supplements Market Size, Share & Trends Analysis Report by Product (Natural Molecules, Herbal Extract, and Vitamins & Minerals), by Application (Memory Enhancement, Attention & Focus, Depression & Mood, Sleep & Recovery, Anti-aging & Longevity, Stress & Anxiety, Focus and Concentration, and Others) and by Distribution Channel (Online Retail, Pharmacies and Drugstores, Health and Wellness Stores, Supermarkets and Hypermarkets, Fitness and Wellness Centers, and Others) Forecast Period (2024-2031)

brain health supplements market is anticipated to grow at a CAGR of 7.3% during the forecast period (2024-2031). The primary factors propelling the market's expansion are rising consumer awareness of mental health issues and the growing use of natural and herbal health products.

Market Dynamics

Growing Prevalence of Depression

An increasing number of individuals globally are suffering from depression, a mental health condition that can have serious repercussions, including suicide. Supplements for brain health that comprise B vitamins, herbal extracts, and omega-3 fatty acids are effective therapies. According to the World Health Organization (WHO) in March 2023, the depression is a prevalent mental disorder, affecting approximately 5% of adults worldwide. It is important to note that both men and women can experience depression, although women are slightly more affected. Additionally, depression can have severe consequences, as it is a leading cause of suicide, resulting in over 700,000 deaths annually. Effective treatments are available for individuals with mild, moderate, and severe depression.

Growing Concern and Awareness of Cognitive Decline

Growing numbers of individuals are seeking preventive methods, such as brain health supplements, as knowledge of brain health and cognitive function has grown in relation to dementia and related cognitive diseases. According to the National Institute of Health (gov.) in December 2023, the global prevalence of dementia is estimated to be between 0.8% and 6.4% in the population over 65 years of age, with a staggering 28.5% prevalence at age 90 in the European Union. Currently, around 50 million individual globally are living with dementia, and this number is expected to triple by 2050, according to the World Health Organization (WHO). The impact of dementia extends beyond the individuals affected, placing significant strains on families, caregivers, and healthcare systems, resulting in lost productivity, increased healthcare costs, and immense emotional and physical burdens.

Market Segmentation

Our in-depth analysis of the global Brain Health Supplements market includes the following segments by product, application and distribution channel:

• Based on product, the market is sub-segmented into natural molecules, herbal extract, and vitamins & minerals.
• Based on application, the market is augmented into memory enhancement, attention & focus, depression & mood, sleep & recovery, anti-aging & longevity, stress & anxiety, focus and concentration, and others (brain aging and cognitive decline prevention, general cognitive enhancement and neuroprotection and brain health maintenance).
• Based on distribution channel, the market is sub-segmented into online retail, pharmacies and drugstores, health and wellness stores, supermarkets and hypermarkets, fitness and wellness centers, and others(convenience stores and gas stations, and specialty online retailers).

Memory Enhancement is Projected to Emerge as the Largest Segment

Based on the application, the brain health supplements market is sub-segmented memory enhancement, attention & focus, depression & mood, sleep & recovery, anti-aging & longevity, stress & anxiety, focus and concentration, and others (brain aging and cognitive decline prevention, general cognitive enhancement and neuroprotection and brain health maintenance). Among these, the memory enhancement sub-segment is expected to hold the largest share of the market. The primary factor supporting the segment's growth includes the increasing demand for According to the National Institute of Health (gov.), in February 2023, Since one-sixth of the world's population is predicted to be over 65 by 2050, the population is aging faster than ever before. China's population is aging rapidly; by 2040, there is projected to be 402 million persons over 60. A recent study estimated that 38.77 million Chinese elderly people, or 15.5% of the population, had minor cognitive impairment. Subjective Cognitive Decline (SCD) is a type of cognitive impairment that has been connected to Alzheimer's disease and other mental disorders. The incidence of sickle cell disease (SCD) rises with age; 10.8% of American adults between 45 and 64 have SCD, whereas 11.7% of individuals beyond 64 have it. Research categorizes older age groups differently; in general, SCD incidence is lower in the 65-74 age group than in the 60-64 and 75+ age groups. A person over 75 who suffers from cognitive impairment is at an increased risk of death and weakness. Cognitive deficiencies can additionally result in other health issues.

Herbal Extract Detection Sub-segment to Hold a Considerable Market Share

The consumers are shifting towards natural and herbal supplements owing to concerns about synthetic ingredients and a desire for safer, plant-based alternatives. As a result there is growing demand for natural and herbal supplements and accordingly companies are launching new and innovative products to meet this growing demands. For instance, in September 2023,Botanical extract producer Biotropics Malaysia Berhad launched novel BioKesum leaf extract clinically shown to support brain health. BioKesum leaf extract, sourced from Malaysia's tropical BioKesum plant, has shown improvements in memory, executive function, and BDNF levels in a double-blind, placebo-controlled clinical trial.

Regional Outlook

The global brain health supplements market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia), and the Rest of the World (the Middle East & Africa, and Latin America).

Increasing Consumer Awareness and Demand in Asia-Pacific

The consumers are seeking for dietary supplements to boost cognitive function and combat off age-related decline in order to grow more conscious of the significance of nutrition and supplementation in sustaining overall health. According to the National Institute of Health (gov.) in July 2023, the prevalence of supplement use has seen a remarkable rise over the past two decades, with the global dietary supplements market estimated to be worth nearly USD 152 billion in 2021. According to projections, the market is expected to reach USD 300 billion by 2028. Furthermore, research in this field has also witnessed significant growth, with over 69,000 articles on dietary supplements published through PubMed between 2012 and 2022. The sales of dietary supplements experienced a substantial increase in early 2020 due to the COVID-19 pandemic, resulting in a 50% surge between 2018 and 2020, with sales surpassing USD 220 billion in 2020.

Global Brain Health Supplements Market Growth by Region 2024-2031

Source: OMR Analysis

North America Holds Major Market Share

Among all the regions, North America holds a significant share owing to the growing demand for The increasing awareness of the association between habits and neurological disorders has increased the need for preventive healthcare products, especially supplements that promote brain health and enhance cognitive performance. According to the National Institute of Health (gov.) in May 2023, the neurological diseases, including stroke and dementia, incur significant direct and indirect costs globally. For instance, stroke alone accounts for approximately US $900 billion in annual expenses, while dementia cost US $1.3 trillion in 2019. Sleep disorders, which affect over 20% of the general population, contribute to reduced functioning and wellbeing, resulting in estimated economic costs of nearly US $700 billion annually across five Organization for Economic Cooperation and Development countries. Furthermore, sleep disorders are linked to an increased risk of developing neurological and mental health problems, exacerbating the course of other neurological disorders and potentially leading to additional indirect costs.

Market Players Outlook

Note: Major Players Sorted in No Particular Order

The major companies serving the global brain health supplements market include, Herbalife International of America, Inc., NOW Health Group, Inc., Nestle Health Science, Pfizer Inc., Reckitt Benckiser grout, and others. The market players are increasingly focusing on business expansion and product development by applying strategies such as collaborations, mergers, and acquisitions to stay competitive in the market. For instance, Nutricia introduced Souvenaid to the US market, targeting memory decline linked to brain changes and synapses. Souvenaid's proprietary formula Fortasyn Connect provides the right nutrients at the right levels to support synapses, a unique combination not found in other memory supplements.

The Report Covers:

• Market value data analysis of 2023 and forecast to 2031.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global brain health supplements market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying 'who-stands-where' in the market.