Growing product awareness and acceptance is driving the adoption of brain health supplements in countries such as China, India, Japan and South Korea. Herbal extracts made from natural ingredients such as ginkgo biloba, curcumin, ginseng and green tea will register the fastest growth during the forecast period. The North America region accounts for the largest market share at over 40% in 2021.
NEWARK, Nov. 14, 2022 (GLOBE NEWSWIRE) -- According to Brainy Insights, the brain health supplement market is projected to reach $16.1 billion by 2030, at a CAGR of 8.5%. The market is driven by the growing awareness of depression, anxiety and other mental health issues among Millennials and Generation Z. In addition, the increased use of dietary supplements to improve cognitive brain functions such as Increased concentration, attention and memory will drive the growth of the market over the forecast period 2022 to 2030.
The players operating in this market are constantly focused on raising the profile of their products to meet customers' needs in terms of memory enhancement, anti-aging, concentration and alertness, and anxiety relief. Furthermore, technological advancement along with drug discovery should be a key strategy for several players to enter this competitive market. Also, due to the growing number of vegetarians around the world, companies are focusing on developing vegan mental health supplements.
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Scope and distribution of reports:
Cover sheet of the report | details |
Forecast period | 2022-2030 |
CAGR forecast | 8.5% |
Projected 2030 value | $16.1 billion |
reference year | 2021 |
Brain Health Supplements Market Size in 2021 | $7.9 billion |
Historical information | 2017-2020 |
Number of pages | 230 |
closed segment | Application, Product, Region |
Growth drivers of the brain health supplement market | Consume supplements to improve brain memory |
Brain health supplements are in high demand in countries like the US and the UK because a large number of students in these countries take these supplements to combat stress and improve concentration and mental health. Additionally, the growing number of concerns among employees is driving the growth of the market. According to the Labor Force Survey, 822,000 workers suffer from work-related stress, depression or anxiety in 2020-2021.
The Depression & Mood segment is expected to register the fastest CAGR during the forecast period due to increased consumer demand for antidepressants, energy boosters and mood enhancing drugs. Herbal extracts such as Panax ginseng and green tea are known to reduce stress and improve blood circulation, which is why consumers' attention has been drawn to these extracts.
Major players in the market focus on product launches, partnerships and collaborations with other companies to develop new products. For example, in August 2017, HVMN Inc. partnered with researchers at the University of Oxford to develop Ketone Ester, a brain health supplement. Similarly, in May 2021, Unilever acquired Texas-based health and lifestyle company Onnit Labs, Inc. to enter the brain health supplement market. Acquiring
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correct form
1. Reckitt Benckiser Group plc.
2. Unilever (Onnit Labs, Inc.)
3. Now the food
4. The Church and Dwight Co., Inc.
5. Quincy Life Sciences
6.Ocean Health Pte Ltd.
7. Alternative script
8. GNC Holding, LLC
9. CHC Corp Synergy
10.Natrol, LLC
market segmentation
• Application information
o Improved memory
o Depression and moodiness
o Anti-aging and longevity
o Stress and anxiety
o Sleep and rest
or Others
• Product information
o Vitamins and minerals
o Natural molecules
or plant extracts
Regional insight
or North America
United States
oh europe
German
Great Britain
France
or Asia Pacific
China
Japan
Indian
South Korea
or Central and South America
Brazil
o Middle East and Africa
Saudi Arabia
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About Reports:
Global Brain Health Supplements Market Are Analyzed By Value (Millions Of Dollars). All categories are analyzed globally, regionally and nationally. The study includes an analysis of more than 30 countries for each segment. The report analyzes drivers, opportunities, constraints and challenges to provide a critical insight into the market. The study includes Porter's five forces model, attractiveness analysis, product analysis, supply and demand analysis, competitive position analysis, sales and marketing channel analysis .
About Smart Insights:
Brainy Insights is a market research company dedicated to providing actionable insights through data analysis to improve business performance. We have strong forecasting and estimating models to achieve customers' high quality production targets in a short time. We offer custom reports and syndication. Our archive of aggregated reports varies across all domain categories and sub-categories. Our tailor-made solutions are designed to meet the needs of customers, whether they are expanding or planning to launch a new product in the global market.
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