The escalating geriatric populace, surging conciouness about mental health issues, and growing desire to enhance brain functions are the key factors stimulating the market growth.
Brain Health Supplements Market Size – USD 7.21 Billion in 2020, Growth – CAGR of 8.4%, Industry Trends – Increasing desire to improve and maintain brain function in the adult population
The global Brain Health Supplements market size is expected to be valued at USD 13.38 Billion by 2028 from USD 7.21 Billion in 2020, registering a CAGR of 8.4% through the forecast period. The growing consciousness about mental health, augmenting need to maintain brain function, and the augmenting need to manage stress and anxiety are predominantly boosting the market growth. Brain health supplements are made from natural substances or extracts from herbs or plants that essentially boost memory function, attention, focus, and alertness in healthy adults. They have also been proven to be highly effective in the management of sleep, depression, and anxiety.
Furthermore, the increasing incidences of insomnia, anxiety, depression, and stress stemming from loneliness, isolation, grief, and financial crisis amid the pandemic have also boosted the requirement for brain health supplements. The availability of numerous over-the-counter (OTC) supplements is also contributing to the market growth. However, the absence of stringent regulations for product approvals and lack of awareness about the supplements in the underdeveloped and developing countries is projected to act as market restraining factors in the estimated timeframe.
Key players operating in the market are:
Natural Factors Nutritional Products Ltd., Teva Pharmaceutical Industries Ltd., Peak Nootropics, HVMN Inc., Onnit Labs, Inc., AlternaScript, Quincy Bioscience, Reckitt Benckiser Group Plc, and Purelife Bioscience Co., Ltd., among others.
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For the purpose of this report, Reports and Data has segmented the global Brain Health Supplements Market based on Product Type, Application, Supplement Type, Age Group, Sales Channel and Region:
Product Type Outlook (Revenue, USD Billion; 2020-2028)
Application Outlook (Revenue, USD Billion; 2020-2028)
Supplement Type Outlook (Revenue, USD Billion; 2020-2028)
Age Group (Revenue, USD Billion; 2020-2028)
Sales Channel Outlook (Revenue, USD Billion; 2020-2028)
Regional Outlook (Revenue, USD Billion; 2018-2028)
Key Highlights from the Report:
Table of Content:
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Indicative Metrics
Chapter 4. Brain Health Supplements Market Segmentation & Impact Analysis
4.1. Brain Health Supplements Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
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