Brain Health Supplements Market is Driven by Aging Population and Neurological Disorders

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Table of Content

In 2022, the brain health supplements market size was evaluated at USD 9.14 billion and it is expected to contribute USD 26.13 billion by 2030, progressing at a rate of 11.07% from 2021 to 2030.

The brain health supplements market growth is driven by the increasing geriatric population, growing neurological disorders, rising disposable income, and growing innovative product launches.

Market Overview:

Supplements for brain health are made to boost mental wellness and increase cognitive performance. Supplements for brain health improve mood problems, concentration and attention, and encourage mental relaxation. Additionally, studies have shown that vitamins for brain health enhance learning and protect brain cells. All age categories use brain health vitamins. However, due to growing mental health issues, there are now more people between the ages of 30 and 50.

Regional Insights:

North America is expected to hold the largest market share over the forecast period. The growth in the region is attributed to the growing geriatric population coupled with rising Alzheimer's disease. For instance, according to the U.S. Census Bureau, in 2019, there were 54.1 million people in the U.S. who were 65 years of age or older. More than one in seven Americans made up 16% of the population. The number of elderly Americans has grown by 14.4 million (or 36%) since 2009, compared to a 3% growth in the number of people under 65.

The number of Americans aged 45 to 64 (who will turn 65 over the next 20 years) rose by 4% from 80.3 million to 83.3 million between 2009 and 2019. Americans aged 60 and elderly grew from 55.7 million to 74.6 million, a 34% rise. Moreover, as per the Alzheimer's Association, in 2023, there will be 6.7 million Americans 65 and elderly who have Alzheimer's. 73% of people are 75 years of age or higher. Thus, the growing elderly population coupled with the increasing prevalence of Alzheimer's disease is expected to flourish the market expansion over the forecast period.

The Asia Pacific is expected to grow at the highest CAGR over the forecast period. Due to rising consumer awareness of the advantages of these supplements, a growing preference for natural supplements over pharmaceuticals, and an increase in the incidence of Alzheimer's disease, the market for brain supplements has demonstrated exceptional penetration in the Asia Pacific region, particularly in China, India, and Japan.

Brain Health Supplements Market Report Scope:

Report Highlights:

• By product, the vitamins & minerals segment is expected to dominate the market during the forecast period. The demand for this market is predicted to rise as knowledge of the advantages of vitamins and minerals grows. It is well known that vitamins and minerals are essential in avoiding age-related cognitive loss as well as developmental diseases like Alzheimer's and dementia. On the other hand, the herbal extract segment is expected to grow at the highest CAGR over the forecast period. The demand for herbal extract supplements for mental health will increase as people's preferences for herbal goods rise in developing countries like China and India. Around 80% of the world's population uses conventional medicine to treat their most basic health issues, according to a 2022 study from the World Health Organization.
• By application, the memory enhancement segment is expected to capture the largest market share during the projected period. Students' demand for memory boosters and brain health supplements has increased as a result of increased rivalry in the scholastic world. In the future years, major companies are anticipated to experience development due to the rising popularity of natural and plant extract supplements. The substance is also becoming more popular among the elderly population, who in industrialized nations in North America and Europe experience memory loss and Alzheimer's disease. According to the Alzheimer's Association, nearly one in five Americans will likely have mild cognitive impairment in 2022. This condition can be brought on by the early start of Alzheimer's. Additionally, 6.5 million Americans aged 65 and older were reportedly coping with the disease in 2022. Besides, the stress and anxiety segment is expected to register a significant revenue share over the forecast period. A rise in the prevalence of conditions associated with mental fatigue, such as stress and anxiety, has been brought on by changing lifestyles combined with a demanding job schedule. Because these products aid in tension relief and mental relaxation, many working professionals are looking for brain health supplements to improve their concentration and attention. Thus, this is expected to drive segment growth over the forecast period.

Market Dynamics:

Drivers:

The growing elderly population and rising awareness about mental health

The brain health supplements market is primarily driven by the rising global elderly population and the increasing demand for neurological condition-related issues to be treated. The primary factor driving up demand for brain health vitamins is the rise in neurological and neurodegenerative conditions, like dementia, among the aged.

Dementia affects millions of people globally each year, and the rising prevalence of this problem with the brain is expected to increase demand for brain health vitamins over the coming years. Additionally, the industry is expanding as a result of the rising global consciousness of mental health. The demand for these supplements has increased as a result of the rising rates of melancholy, anxiety, tension, and other mental illnesses among teenagers and young adults, which is fueling the market's growth.

Restraint:

Lack of awareness and regulation

One of the main factors impeding the market from expanding is the underdeveloped and emerging countries' insufficient knowledge about the presence of brain health supplements and their advantages for brain health. Additionally, the lack of effective laws on the manufacture of supplements and the rise in instances of false advertising are impeding market expansion. The lack of strict regulations allows makers to release products without regulatory permits, which can result in false or deceptive product claims and undermine customer confidence in the products. This is anticipated to be a significant market restraint over the anticipated period.

Opportunities:

Launch of innovative product

Product invention is a crucial trend that is getting traction in the market for supplements for mental health. To maintain their leadership positions in the market for mental health supplements, major companies are creating cutting-edge goods. For instance, the US-based pharmaceutical firm Cosmos Holdings introduced Proprietary Sky Premium Life Brainlit in March 2022. It is a cutting-edge concoction designed to preserve and improve brain function. Conditions like Alzheimer's disease and other forms of dementia, Parkinson's disease, melancholy, and anxiety have all been on the rise lately despite a sizable unfilled demand for efficient treatment options. 

The Brainlit nutritional supplement contains ginkgo biloba, glutamine, L-tyrosine, as well as other necessary vitamins and minerals. It is manufactured from the best possible raw materials. Thus, the innovative product launch is expected to fuel market growth.

Recent Developments:

• In February 2023, Thorne HealthTech Inc. announced the acquisition of PreCon Health Inc. Thorne and PreCon worked together to create two brain health formulations that can both protect the brain from traumatic injuries and assist those who have already experienced them.
• In September 2021, Bennett's Choice purchased its patented natural health product formulations that support brain health to Havn Life Sciences Inc., a biotechnology company that creates innovative therapies and natural health products to support brain health and improve mental capabilities. With more product releases anticipated in the near future, the Acquisition will expand the range of natural health goods already offered by HAVN Life.

Major Key Players:

• Onnit Labs Inc
• Purelife Biosciences Co Ltd.
• Natural Factors Nutritional Products Limited
• Peak Nootropics
• Alternascript
• Intelligent Labs
• HVMN Inc
• NOW Foods

Market Segmentation:

By Product

• Natural Molecules
  • Acetyl-L-Carnitine
  • Alpha GPC
  • Citicoline
  • DHA
  • Pre/Pro/Postbiotics   
• Herbal Extract
  • Curcumin
  • Ginseng
  • Gingko Biloba
  • Others
• Vitamins and Minerals
  • Vitamin B
  • Vitamin C & E

By Application

• Attention & Focus
• Memory Enhancement
• Sleep Recovery
• Stress & Anxiety
• Anti-ageing & Longevity
• Depression & Mood

By Sales Channel

• Drug Stores
• Supermarkets
• Online Stores
• Others

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