Wilmington, Delaware, United States, Jan. 15, 2024 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The brain health supplements industry was valued at US$ 6.6 billion in 2022. By 2031, it is projected to reach over US$ 11.4 billion and expand at a CAGR of 6.4% during the forecast period. Increasing attention is being paid to supporting cognitive function and emotional well-being, resulting in the development of products to support these functions.
The market for brain health supplements is likely to grow as consumer attitudes toward mental health change. New and better ingredients can be developed using research in neuroscience, nutrition, and related fields to create brain health supplements. Adding scientific advancements to these products can make them more credible and appealing.
Individuals may begin to seek tailored supplements for their specific cognitive requirements, with the trend of personalized nutrition extending to the supplement market. With technological improvements and a better understanding of individual health profiles, personalized brain health products will likely become available.
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Future innovations may focus on developing new formulations, delivery methods, and delivery systems for brain health supplements. A sustained release mechanism and innovative combinations of ingredients may also increase bioavailability. Integrated digital health technologies like wearables and mobile apps will likely be a major trend in brain health supplements.
Key Findings of the Market Report
- In terms of product type, natural molecules held the largest share of the global market for brain health supplements in 2022.
- Health supplements tailored to the brain and precision nutrition are growing in popularity.
- North America dominated the market for brain health supplements in 2022.
- Based on application, cognitive supplements dominated the global market for brain health supplements in 2022.
Global Brain Health Supplements Market: Key Players
The brain health supplement market is fragmented, with numerous companies competing for customers. These companies invest more in research and development and introduce new products to expand their market presence.
- Onnit Labs, Inc.
- Nutricia
- Natural Alternatives International, Inc.
- Quincy Bioscience
- Reckitt Benckiser Group plc.
- Natrol, LLC.
- H.V.M.N. Inc.
Global Brain Health Supplements Market: Growth Drivers
- A growing emphasis is being placed on mental health and cognitive wellness. As a result, an increasing interest in preventive healthcare and cognitive enhancement supplements has been shown.
- Sleep deprivation, heightened stress levels, and poor diet are typical features of modern lifestyles. The number of individuals taking measures to improve their health, including their cognitive health, and purchasing products that support their efforts. As a result, brain health supplements have become increasingly popular.
- Innovators are developing brain health supplements using ingredients and formulations from neuroscience and nutrition. Scientific advances drive consumer confidence and demand for these products.
- The growing importance of health, wellness, and cognitive support products has changed consumer lifestyles. Products can be developed and marketed using this framework, positively affecting the market.
- Due to the rise of e-commerce platforms, consumers can now easily obtain and purchase brain health supplements. Because of this convenience, the market has expanded. Cognitive performance may be monitored, personalized supplements may be recommended, and tracking the effectiveness of supplements can be achieved with these technologies.
- Online and direct purchases of health-related products are on the rise. Direct-to-consumer sales models create closer customer relationships by making supplements accessible via e-commerce platforms. Supplements may become more personalized as individuals seek solutions that address their specific cognitive needs as a result of the trend toward personalized nutrition.
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Global Brain Health Supplements Market: Regional Landscape
- North America is expected to drive the market for brain health supplements. Brain health supplements have been a significant market driver in North America, particularly in the United States and Canada. Rising mental health issues have become more widely recognized, driving a greater demand for brain health products. Mental health and cognitive function are becoming more of a priority for consumers.
- A busy schedule, a fast-paced work environment, and high-stress levels characterize modern American lifestyles. Individuals experiencing cognitive challenges often seek supplements that promise to alleviate stress and improve cognitive performance. A relatively well-established regulatory environment exists in North America, especially in the United States. Regulatory guidelines ensure that high-quality, safe brain health supplements are sold to consumers.
Global Brain Health Supplements Market: Segmentation
By Product Type
- Natural Molecules
- Acetyl-L-Carnitine
- Alpha-GPC
- Citicoline
- Others
- Herbal Extract
- Ginseng
- Gingko Biloba
- Curcumin
- Others
- Vitamins & Minerals
- Vitamin B
- Vitamin C & E
- Others
By Application
- Depression & Mood
- Cognitive
- Stress & Anxiety
- Others
By Sales Type
- Rx Prescription
- OTC
By Distribution Channel
- Online
- Company Owned Website
- Commercial Website
- Offline
- Hospital Pharmacies
- Retail Pharmacies
By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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