Learn about brain health and nootropics to boost brain function
Brain Health Supplements market is to expand at 7.4% of CAGR by 2024 according to market forecasts
Global Brain Health Supplements Market - Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016-2024
Market Overview
Brain health supplements always remain the hottest topic for the marketers of dietary supplements. Brain health supplements are dietary supplements enrich with multi-vitamin and minerals which are used to stimulate brain chemistry to improve brain functioning.
Brain health supplements are usually consumed by the elderly adults and kids to strengthen their memory and brain functioning. Many companies are positioning their products in the market on the basis of popularity of ingredients that are performing well in the cognitive health area.
Herbal/botanical products are currently in high demand and consumers are readily buying these products. Companies are also profiling their products on the basis of natural ingredients such as I-theanine, ashwagandha and huperzine are attracting interest because of their efficacy and natural positioning.
Lutein is also among the most popular ingredients that could be dominating in cognitive health in future. Children brain development is also among the major concern for their parents which is fuelling the demand for child centered cognitive supplements.
For instance, South Korea has very strong brain health supplement sales. Most of the brain health supplements target brain development in children.
Huge cultural value placed on academic performance coupled with high incomes and low birth rates enables the plentiful spending on children. Major brand likes Einstein and Enfant marked their strong presence in the market and are able to attract concerned parents.
Market Segmentation
By Ingredients
Acetyl-L-Carnitine
Ginkgo
Ginseng
Alpha GPC
Bacopa Monnieri
DHA
Tryptophan
Others
By Applications
Memory Enhancement
Mood and Depression
Attention and Focus
Longevity and Anti-Aging
Insomnia and Dream Enhancement
Anxiety
By Supplements Form
Tablets/Capsules
Liquid
Powder
Chewable
By Distribution Channels
Online
Offline Retailers, Wholesalers.
By End Users
Children
Adults
Elderly Population
By Geography
North America US, Canada {Market Share % , Market Size USD Billion , Adoption Rate % }
Europe UK, France, Italy, Germany, Spain, Hungary, Sweden, Russia, Poland and Rest of Europe {Market Share % , Market Size USD Billion , Adoption Rate % }
Middle East and Africa GCC Countries, North Africa, South Africa and Rest of Middle East & Africa {Market Share % , Market Size USD Billion , Adoption Rate % }
Latin America Brazil, Mexico and Rest of Latin America {Market Share % , Market Size USD Billion , Adoption Rate % }
Asia Pacific China, Japan, India, Singapore, South Korea, Australia, New Zealand and Rest of Asia-Pacific {Market Share % , Market Size USD Billion , Adoption Rate % }
Rest of the World {Market Share % , Market Size USD Billion , Adoption Rate % }
Growth Drivers and Challenges
Rising aging population and related health issues such as Alzheimer and dementia are some of the major factors driving growth of brain health supplements market. According to 2014 WHO World Health Organization data, more than 170 countries are ranked according to the death rates due to Alzheimer s disease per 100,000.
Developed regions such as Western Europe, North America and Australia demonstrate the highest death rates due to Alzheimer. However, many customers, seeing results of brain disease in elderly parents and relatives, are eager to maintain their brain health and prevent related diseases.
According to Centers for Disease Control and Prevention, the people suffering from Alzheimer disease is likely to triple during the next 35 years due to aging population. Aforementioned factors and aging population is expected to fuel the sales of brain health supplements around the world.
Rising influence of e-commerce and easy availability of brain health supplements at lower cost is also driving the growth of brain health supplements market. Growing internet penetration in developing countries is also providing huge growth opportunities for the market players.
However, lack of awareness among consumers and false claims by the major companies is anticipated to barrier the growth of brain health supplements market. For instance, unauthorized claims by major companies like Nestle Juicy Juice Brain Development mix and Kellogg s Frosted Mini-Wheat attentiveness claims eroded the consumer trust.
Market Size and Forecast
Global brain health supplement market accounted for USD 1.8 Billion in 2016 and the market is expected to reach USD 3.2 Billion by the end of 2024. Further, the market is anticipated to expand at a compound annual growth rate of 7.4% over the forecast period i.e.
2016-2024.
Geographically, North America is the largest consumer of cognitive health or brain supplements owing to dwelling of major market players in the region. Large population with high awareness towards preventive and cognitive health is the key factor driving the dominance of North America brain health supplements market.
On the other hand, countries like China and India having ancient history of natural and herbal based cognitive supplements and drugs that boost brain functions, the foreign companies are collaborating with local market players to enter the fastest growing economies of the world. Asia-Pacific is expected to be the fastest growing market over the forecast period.
Latin America has the second fastest growth in health and dietary supplements market globally with an average annual increase of almost 5% from 2010 to 2015.
Key Market Players
Amway
AlternaScript
Accelerated Intelligence
Onnit Labs Llc
Puori
Nutrex Hawaii
Piping Rock Health Products
New Zealand Health Food
Ocean Health
Nootrobox, Inc
Cephalon, Inc
Purelife Bioscience Co. Ltd.
Peak Nootropics
Supnootropic Biological Technology Co. Ltd.
Alternascript Llc
Accelerated Intelligence Inc.
Scope Background
Market Synopsis
Market Segmentation
Global brain health supplements market is segmented as follows:
By Ingredient Type Market Size, Demand Analysis and Growth Analysis
By Application Type Market Size, Demand Analysis and Growth Analysis
By Supplements Form Type Market Size, Demand Analysis and Growth Analysis
By Distribution Channels Type Market Size, Demand Analysis and Growth Analysis
Global Brain Health Supplements Market Report covered insights of below mentioned regions:
North America U.S., Canada {Market Size, Growth Analysis}
Latin America Argentina, Mexico, Brazil and Rest of Latin America {Market Size, Growth Analysis}
Europe Germany, Italy, Spain, France, The U.K., Netherlands, Sweden, Hungary, Russia, Poland, Rest of Europe {Market Size, Growth Analysis}
Asia-Pacific China, India, Singapore, Japan, Australia, New Zealand, South Korea and Rest of Asia Pacific {Market Size, Growth Analysis}
Middle East and North Africa MENA {Market Size, Growth Analysis}
Rest of World {Market Size, Growth Analysis}
Market Dynamics: Growth Drivers, Restraints and Opportunities
Risk Factors
Regional Variations
Recent Trends and Developments
Synopsis
Business Strategy
Product Portfolio
SWOT Analysis
Porter’s Five Force Model
Market Landscape: Competition and Beyond
Market outlook for business players and entry level players to ascertain their business in dynamic ecosystem
Expert Analysis
Concluding Remarks
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