Market Overview:
Brain health supplements include vitamins, minerals and nutritional components that support cognitive functions such as memory, concentration, focus and problem-solving. These supplements aid in the improvement of mental acuity and help provide structure for healthy brain cells.
The global Brain Health Supplements Market is estimated to be valued at US$ 9.0 Bn in 2023 and is expected to exhibit a CAGR of 8.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the brain health supplements market is the increasing popularity of natural and plant-based supplements. With growing health consciousness, consumers are preferring supplements made from natural ingredients like omega-3 fatty acids, vitamins, minerals and herbal extracts. Manufacturers are increasingly focusing on using ingredients such as turmeric, ginkgo biloba, ginseng and green tea extracts in their products owing to their antioxidant and anti-inflammatory properties that support brain health. Moreover, the use of advanced delivery methods like soft gels and gummies makes these supplements more appealing and palatable for customers.
SWOT Analysis
Strength: Brain health supplements contain various vitamins, minerals and other nutrients essential for brain health and cognitive function. Some key ingredients such as omega-3 fatty acids and antioxidants play an important role in brain development and maintaining brain health.
Weakness: Safety and effectiveness of some brain health supplements have not been thoroughly evaluated or approved by regulatory bodies. Long term safety studies are still required for many supplements. Additionally, overconsumption of certain nutrients from supplements can lead to adverse effects.
Opportunity: Rising awareness about cognitive decline and age-related brain diseases is driving consumers to adopt preventive measures. Growing demand for natural remedies to enhance memory, focus and overall brain health presents an opportunity for supplements market.
Threats: Strict regulations on health claims and ingredients composition can restrict the scope of certain supplements. Intense competition from functional foods and beverages industry also poses a threat. Additionally, substitutes such as meditation, physical exercise and cognitive training can reduce reliance on supplements.
Key Takeaways
The global Brain Health Supplements market is expected to witness high growth, exhibiting CAGR of 8.5% over the forecast period, due to increasing consumer awareness about declining brain health and prevention of neurological disorders.
Regional analysis
North America currently dominates the global brain health supplements market owing to high health awareness and lifestyle changes towards brain fitness in countries like the US and Canada. Asia Pacific is expected to be the fastest growing market due to rising disposable incomes, growing elderly population and increasing western influence in countries like China and India.
Key players operating in the Brain Health Supplements market are Alternascript, Accelerated Intelligence, Liquid Health, Health Via Modern Nutrition Inc., Natural Factors USA, Onnit Labs, Inc., Purelife bioscience Co., Ltd., Quincy Bioscience – The Makers of Prevagen, Cerebral success, Amway Corp., Puori, Ocean Health Pte Ltd., Schiff. The market exhibits intense competition with these companies focusing on new product launches, strategic partnerships and marketing initiatives to increase consumer reach.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
