The report is titled' ‘Brain Health Supplements Market: Opportunity Analysis and Future Assessment 2020-2028’. An overview of conceptual frameworks, analytical approaches of the brain health supplement market is the main objective of the report, which further consists of the market opportunity and insights of the data involved in the making of the respective market. The brain health supplements market is expected to grow at a significant rate in the near future.
The brain health supplements market size was valued at US$ 5.1 Bn in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 7.6% from 2020 to 2028.
Brain health supplements are defined as supplements that perform and improve functional activities of the brain such as enhancing memory, reducing anxiety, curing depression, and several others. It is available in two forms, natural and man-made forms. Brain health supplements have also proved beneficial in managing patients suffering from mental disorders such as Alzheimer's disease, which is majorly detected in the geriatric population.
In addition, the supplements are also consumed by entrepreneurs, sportspersons, and working professionals for boosting their memory capability to combat the existing competition.in addition, brain health supplements comprise antioxidants that protect the body from free radicals, which are capable of damaging cells and causing cancer, Alzheimer's, and heart disease. This further elevates the demand for these supplements, favoring the market growth.
Factors such as the elevating count of the elderly population suffering from Alzheimer's disease, anxiety, and depression coupled with the rising awareness of natural memory enhancing supplements among consumers are the prime factors responsible for favoring the growth of the brain health supplements market.
Besides, the emerging application of these supplements among students followed by the growing e-commerce activities and online shopping are also acknowledging the demand for brain health supplements; expanding the global market size in the near future.
According to the latest report of the World Health Organization, published in September 2020, unveiled that approximately 50 million people, globally, are suffering from dementia condition, among which nearly 10 million new cases are registered every year. Besides, Alzheimer's disease is the most common form of dementia contributing to more than 60% of the overall cases.
On the flip side, the lack of improper regulations and poor demand for these supplements from emerging nations serves to be the restraining factors; thereby responsible for minimizing the worldwide share brain health supplements market during the forecast.
At the same pace, the growing adoption of such supplements coupled with the increasing number of business strategies among prominent players to expand their product portfolio or global presence are likely to offer profitable business opportunities shortly.
The global brain health supplements market is segmented on the basis of product type, application, supplement form, age group, distribution channel, and regions.
Based on product type, the brain health supplements market is segmented into herbal extracts, vitamins & minerals, and natural molecules. The herbal extracts segment is further classified into ginseng, ginkgo Biloba, curcumin, lion's mane, and others; whereas the vitamins & minerals segment is divided into Vitamin B, Vitamin C & E, others. Lastly, the Natural Molecules is fragmented into Acetyl-L-Carnitine, Alpha GPC, Citicoline, Docosahexaenoic Acid (DHA), others consumables & disposables. and others.
On the basis of application, the market is categorized as memory enhancement, mood & depression, attention & focus, longevity & anti-aging, sleep & recovery, and anxiety. The supplement form segment is split into tablets, capsules, and others. The age group segment is classified as geriatric, adults, and pediatrics. Lastly, based on the distribution channel segment, the categories are supermarkets & hypermarkets, drug stores, and online stores.
The research report classifies the global brain health supplements market based on product type, application, supplement form, age group, distribution channel, and regions.
Vitamins & Minerals
Vitamin C & E
Docosahexaenoic Acid (DHA)
Mood & Depression
Attention & Focus
Longevity & Anti-aging
Sleep & Recovery
Supermarkets & Hypermarkets
The global Brain Health Supplements market is dominated by AlternaScript, LLC, Accelerated Intelligence Inc., Liquid Health, Inc., HVMN Inc., Natural Factors Nutritional Products Ltd., KeyView Labs, Inc., Onnit Labs, LLC, Purelife Bioscience Co., Ltd., Quincy Bioscience, Cerebral Success, Amway, Puori, Ocean Health, and Schiff.
The non-identical approach of Meridian Market Consultants stands with conceptual methods backed up with the data analysis. The novel market understanding approach makes up the standard of the assessment results that give a better opportunity for the customers to put their effort.
A research report on the brain health supplements market by Meridian Market Consultants is an in-depth and extensive study of the market based on the necessary data crunching and statistical analysis. It provides a brief view of the dynamics flowing through the market, which includes the factors that support the market and the factors that are acting as impedance for the growth of the market.
Furthermore, the report includes the various trends and opportunities in the respective market in different regions for a better understanding of readers that helps to analyze the potential of the market.
Various factors that are benchmarked while estimating the market growth include (but not restricted to):
New product designs and launches
Current product compliance
Concerns for use of brain health supplements
Advantages of brain health supplements
Actions taken by the manufacturer and respective regulatory authorities also impact the market growth of the segment. These factors are understood at the regional level and in major countries globally for providing regional insights of the product segment in the report. This helps our clients to make informed decisions.
A mix of the top-down and bottom-up approach is followed to arrive at and validate our market value estimations. For a product segment like wherein one/two manufacturer(s) dominates the market, its product sales, previous growth rates, and market expansion plans are considered to generate market share in the global market.