BRAIN HEALTH SUPPLEMENTS MARKET ANALYSIS

Global brain health supplements market is estimated to be valued at US$ 9.0 Bn in 2023, and is expected tso exhibit a CAGR of 8.5% during the forecast period (2023-2030).

Analysts’ Views on Global Brain Health Supplements Market :

In preterm babies, increased energy and protein intake in the first month after birth is associated with improved head growth. Thus, increasing number of premature births, and increasing cases of child mortality will rise the demand for brain health supplements and this is expected to drive the global brain health supplements market growth over the forecast period. For instance, according to data published by the World Health Organization, on May 10, 2023, an estimated 13.4 million babies were born preterm in 2020. Preterm birth complications are the leading cause of death among children. The rate of preterm birth was nearly 4-16% of babies born in 2020.

Figure 1. Global Brain Health Supplements Market Share (%), By Application, 2023

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Global Brain Health Supplements Market – Driver

• Increasing prevalence of mental health disorders : Increasing geriatric population suffering from diseases such as Alzheimer’s, depression, and anxiety among others are expected to drive growth of the global brain health supplements market during the forecast period. For instance, according to the Institute of Health Metrics and Evaluation (IHME), and Global Burden of Disease (GBD), in April 2022, around 10.7% (792 million) of the global population is estimated to suffer from a mental health disorder. Among these, depression cases were around 264 million and anxiety cases were around 284 million in 2021. In 2020, according to the Global Burden of Disease Study 2020, the estimated number of people with anxiety disorders was 264 million, representing a 14.5% increase from people with anxiety disorders in 2005.
• Product launches; Market players are focused on adoption of organic growth strategies such as product launches to strengthen their position in the global brain health supplements market. For instance, in July 2020, Mannatech, Incorporated,- a publicly traded, multinational multi-level marketing firm that sells dietary supplements and personal care products, announced the availability of GinMAX tablets (Ginseng Supplement) to its customers in China. GinMAX tablets are used for enhancing the focus, memory, and to fight off fatigue naturally.

Figure 2. Global Brain Health Supplements Market Share (%), By Region, 2023

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Global Brain Health Supplements Market - Regional Analysis

Increasing use of brain health supplements is propelling the market growth during the forecast period. North America holds 40.3% of the market share. For instance, according to the 2021 AARP Brain Health and Dietary Supplement Survey,- a survey of adults with age 18 and older on their knowledge and use of vitamins. More than 25% of the U.S. population in the age group of 50 years and above were making use of supplements for their brain health. Also, 26% of the adult population takes at least one supplement for brain health, among these 21% take supplements for maintaining brain health, 20% for improving the brain health, 11% to delay the onset of dementia and around 8% of people take supplements to reverse the effect of dementia

Global Brain Health Supplements Market – Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe, and the World Health Organization declared it a public health emergency on January 30, 2020.

COVID-19 affected the economy in three main ways: by directly affecting the production and demand of drugs, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries such as China, India, Saudi Arabia, the U.A.E., Egypt, and others are facing problems with the transportation of drugs from one place to another.

However, the COVID-19 pandemic had a positive impact on the global brain health supplements market as students and health professionals needed special attention because of their higher psychological distress. Teachers and corporate employees reported mild levels of stress in lockdown. Moreover, the high risk of COVID-19 infection among geriatric patients can cause depression, fear and anxiety. This is expected to drive growth of the global brain supplements market during the forecast period.

Global Brain Health Supplements Market Segmentation:

The global brain health supplements market report is segmented into product type, application, supplement form, age group, distribution channel and region.

• By Product Type, the market is segmented into Herbal Extracts (Ginseng, Ginkgo Biloba, Curcumin, Lions Mane, and Others), Vitamins & Minerals {Vitamin B, Vitamin C &  E, and Others), and Natural Molecules (Acetyl-L-Carnitine, Alpha GPC, Citicoline, Docosahexaenoic Acid, and Others). Out of which, vitamins & minerals segment is expected to hold a dominant position in the global brain health supplements market during the forecast period and this is attributed to increasing product launches in the segment.
• By Application, the market is segmented into memory enhancement, mood & depression, attention & focus, longevity & anti-aging, sleep & recovery, and anxiety. Out of which, the memory enhancement segment is expected to hold a dominant position in the global brain health supplements market during the forecast period due to  prevalence of degenerative disorders in the elderly.
• By Supplement Form, the market is segmented into tablets, capsules,  and others. Out of which, the capsules segment is expected to dominate the market over the forecast period due to patient compliance that capsules offer.
• By Age Group, the market is segmented into geriatric, adults, and pediatric. Out of which, the geriatric segment is expected to dominate the market over the forecast period due to rising prevalence of dementia in old people.
• By Distribution Channel, the market is segmented into supermarkets & hypermarkets, drug stores, and online stores. Out of which, the drug stores segment is expected to dominate the market over the forecast period due to availability of brain supplements in drug stores. Among all the segmentations, the product type segment has the highest potential due to the increasing number of pharmaceutical companies entering the brain healthsupplements business with new products. In September 2022, Fonterra Co-operative Group Limited,-a New Zealand-based dairy products manufacturing company, launched BioKodeLab,- a supplement brand that aims to support mental clarity, stress response and immune health - as well as filter blue light.  

Global Brain Health Supplements Market Cross Sectional Analysis:

Among product type, the vitamins & minerals segment is expected to propel growth of the market in the North America during the forecast period due to increasing product launches in the region. In June 2020, Elysium Health, Inc.,- a U.S.-based manufacturer of dietary supplements, in collaboration with University Of Oxford- a collegiate research university in Oxford, England, launched Matter, a long-term brain health supplement. Matter contains a formulation of specific B vitamins that is clinically proven to slow brain atrophy associated with age-related memory loss. It also contains a powdered omega-3 lysine complex with enhanced bioavailability to optimize efficacy of the B-vitamin complex, and an anthocyanin-rich bilberry extract to provide complementary cognitive benefits.

Global Brain Health Supplements Market : Key Developments

•  On May 3, 2023, Nature’s Way Brands,- a company that manufactures products that are designed to enhance and empower personal wellness, launched Brain Fuel, a gummy supplement formulated to support short-term memory, focus, and concentration in adults. Brain Fuel’s key ingredient is Cognigrape, a clinically-studied red grape extract for cognitive support.
• On January 1, 2023, Parable,- a biopharmaceutical company, launched Daily, a brain health supplement. Daily is an unflavored neuro-fortified supplement based in powdered oat milk that can be added to any drink, and is meant to support brain health.
• In April 2021, Thorne, - a company that develops solutions for a personalized approach to health and wellbeing, announced a strategic partnership with PreCon Health, Inc.,- a company that focuses on scientific discovery, innovation, and advancing safe and effective products that supports healthy brain function, bringing to market a multi-ingredient dietary supplement, formulated to support pre- and post-impact brain health.

Global Brain Health Supplements Market: Key Trends

• Increasing adoption of Inorganic growth strategies by key market players: Increasing  scenarios of mergers, acquisitions and partnerships are expected to boost growth of the global brain health supplements market. For instance, on February 3, 2023, Thorne,- a company that focuses on developing innovative solutions for a personalized approach to health and wellness, announced that it had acquired PreCon Health, Inc.,- company focuses on scientific discovery, innovation, and advancing safe and effective products that support healthy brain function.
• Increase in product launches: The launch of new products is also expected to boost the growth of the global brain health supplements market. For instance, in October 2020, Neuratech,- a Australia-based health start-up, announced the launch of two brain supplements- Boost and Calm. Boost is a focus and energy nootropic and Calm is a stressand sleep nootropic.

Global Brain Health Supplements Market: Restraint

• Lack of regulations on the manufacturing of supplements, and misleading claims, regarding the product efficacy: Lack of regulations on the manufacturing of supplements, and misleading claims, regarding the product efficacy are major factors restraining the brain health supplements market growth during the forecast period. Manufacturing companies can launch their products without any regulatory approval, which can lead to misleading or false claiming products and hamper the consumer’s trust on such products. For instance, in February 2021, the U.S. Food and Drug Administration (FDA) posted 12 warning letters and 5 online advisory letters that were issued to companies for illegally selling more than 58 dietary supplements products thast  claim to prevent, treat or cure Alzheimer’s disease and a number of other serious diseases and health conditions.
• Presence of unapproved drugs in supplements : In August 2022, according to the article published in National Center for Biotechnology Information, Piracetam has been tested for stroke, unconsciousness, treatment of withdrawal symptoms from alcoholism, and prevention of alcohol-induced hypoxia and it is found to be effective for the brain. The presence of Piracetam was found in many brain-care supplements. Piracetam and other similar supplements were not approved for use in the U.S. but are prescribed to treat dementia, strokes, brain injuries, and other neurological issues in some countries of  Europe, Asia, and Latin America. Some of the supplements that contained these piracetam-like chemicals (omberacetam, aniracetam, oxiracetam, and phenylpiracetam) contained two to four times the typical pharmaceutical dose of these compounds. Talking  to doctors or healthcare providers about the exact ingredients with the supplements can serve as an effective counterbalance against the restraint.

Global Brain Health Supplements Market - Key Players

Major players operating in the global brain health supplements market include Alternascript, Accelerated Intelligence, Liquid Health, Health Via Modern Nutrition Inc.,  Natural Factors USA, Onnit Labs, Inc.,  Purelife bioscience Co., Ltd., Quincy Bioscience – The Makers of Prevagen, Cerebral Success,  Amway Corp., Puori, Ocean Health Pte Ltd., and Schiff

Global Brain Health Supplements Market – Definition

Brain supplements are natural dietary supplements that boost brain health and cognitive function. Brain supplements can offer a variety of health benefits including improved memory, concentration, focus, energy, mood, motivation, and long-term brain health. Natural components are used to create nootropics that enhance cognitive performance, and may even help a person’s long-term general brain health.