The global brain health supplement market is experiencing significant growth due to an increase in research and development (R&D) in herbal ingredients and a rise in the number of major players producing brain health supplements. Based on region, the market across North America held the largest share in 2020.
Wilmington, Delaware, Nov. 08, 2023 (GLOBE NEWSWIRE) — According to the report released by Allied Market Research, the global brain health supplement market size is predicted to gain a value of $19,730.1 million by 2030, having witnessed a value of $7,653.4 million in 2020, exhibiting a CAGR of 9.9% during the forecast period. This market report provides a comprehensive analysis of leading investment pockets, top market segments, market dynamics, market size and forecasts, competitive analysis, and regional analysis. It is an essential resource for the stakeholders, and leading market players to strategically plan and enhance their competitive advantage.
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Report Coverage and Details:
|Market Size in 2020||$7,653.4 Million|
|Market Size in 2030||$19,730.1 Million|
|No. of Pages in Report||288|
|Segments Covered||Product, Application, Supplement Form, Age Group, Sales Channel, and Region|
|Drivers||An increase in research and development (R&D) in herbal ingredients|
|A rise in the number of major players producing brain health supplements|
|Restraints||A lack of knowledge and understanding of brain health products|
|Opportunities||Surge in the prevalence of brain diseases|
|The increase in the geriatric population|
Recent Developments in the Brain Health Supplements Market
- In May 2023, Danone S.A. a global food and beverage company has launched its Souvenaid in the U.S. Souvenaid supplement is used to regulate synaptic functioning in the brain. The launch of Souvenaid will expand the supplement product portfolio of Danone S.A.
- In May 2023, Nature’s Way a wellness and fitness service company has launched its Brain Fuel gummy for brain Health. It is a nootropic gummy to increase the concentration and support cognitive functions.
- In February 2023, Thorne HealthTech, Inc. a global health and wellness company has acquired the PreCon Health, Inc.’s healthy brain function product portfolio. This acquisition will help the company to grain strong foothold in brain health supplements market.
- In September 2022, Neuriva, a health supplement brand of Reckitt Benckiser Group plc., partners with Alton Brown. Under this partnership Alton Brown a recognized chef will share his knowledge about nutrition and food with brain health.
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The global brain health supplement market is classified into various segments based on product, application, supplement form, age group, sales channel, and region. It is offered in both tabular and graphical form, permitting an individual or a commercial organization to benefit perception into the highly profitable and swiftly expanding segments.
Based on product type, the natural molecules segment held the major share in 2020, accounting for more than half of the global brain health supplement market revenue, and is expected to maintain its leadership status during the forecast period. On the other hand, the herbal extracts segment would display the fastest CAGR of 10.7% from 2021 to 2030.
Based on age group, the adults segment held the major share in 2020, holding more than half of the global brain health supplement market revenue, and is expected to maintain its dominance throughout the forecast period. However, the children segment is projected to witness the fastest CAGR of 10.8% from 2021 to 2030.
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Based on region, North America held the major share in 2020, acquired nearly two-fifths of the global brain health supplement market revenue, and is projected to rule the roost by 2030. The Asia-Pacific, however, would showcase the fastest CAGR of 10.8% over the forecast period.
The prominent players that have been analyzed and identified in the global brain health supplement market such as Onnit Labs LLC., Natural Factors Nutritional Products Ltd., Liquid Health, Inc., KeyView Labs, Inc., AlternaScript LLC, HVMN Inc., Aurobindo Pharma Ltd. (Natroll, LLC), Accelerated Intelligence Inc., Quincy Bioscience, LLC., and Purelife Bioscience Co., Ltd.
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