Brain Health Supplements Market Size, Share & Trends Report

Brain Health Supplements Market Size, Share & Trends Analysis Report By Product (Natural Molecules, Herbal Extract), By Application (Memory Enhancement, Depression & Mood), By Region, And Segment Forecasts, 2021 - 2028

  • Published Date: Jan, 2021
  • Base Year for Estimate: 2020
  • Report ID: GVR-2-68038-866-4
  • Format: Electronic (PDF)
  • Historical Data: 2016 - 2019
  • Number of Pages: 80

Report Overview

The global brain health supplements market size was valued at USD 7.21 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 8.0% from 2021 to 2028. The increasing interest in improving and maintaining brain health among consumers has been driving product demand over the world. Furthermore, the growing number of promotional activities, rising self-directed users, and increasing willingness to improve brain functions are positively impacting the growth of the market. These supplements help improve consumers' memory, focus, mood, sleep, creativity, relaxation, and other brain functions. Moreover, the easy availability of these over-the-counter (OTC) products in both physical and online stores is boosting sales over the years.

U.S. brain health supplements market size, by product, 2016 - 2028 (USD Billion)

A large number of brain-health supplements are targeted at the increasingly aging population across the globe. According to the 2019 AARP Brain Health and Dietary Supplements Survey, more than one-fourth of Americans aged 50 and above regularly take brain health supplements. The increasing brain health conditions such as dementia among aged people are fueling the application of these products. As per the World Health Organization (WHO), the total number of new dementia cases is 10 million per year over the world, indicating one case every three seconds. This growth of the brain health problem will accelerate the adoption of these supplements among the older population group.

The lack of adequate regulations to evaluate the purity of these supplements’ ingredients or their claims' authenticity may hinder the adoption rate. The effectiveness of these supplements for improving brain functions is a key concern of the buyers. However, the COVID-19 pandemic has boosted the sales of the products. The pandemic has heightened the occurrence of depression, stress, anxiety, insomnia, and fear. Many people are facing difficulties in focusing and maintaining mental health due to the rise of fear, isolation, grief, financial challenges, and job losses. This crisis of brain health has been improving the sales of products over the world.

Product Insights

Natural molecules accounted for the largest share of more than 50.0% in 2020. The cost-effectiveness of these products is the key reason behind the domination of this category. Omega-3 fatty acids, Acetyl-L-carnitine, Huperzine-A, Citicoline, and Alpha (glycerylphosphorylcholine) GPC are some of the key natural molecules used in the products. Docosahexaenoic acid (DHA), eicosapentaenoic acid (EPA), and Alpha-linolenic acid (ALA) are the three major omega-3 fatty acids that help in reducing various cognitive impairments, including Alzheimer’s disease and depression.

The herbal extract products are expected to register the fastest CAGR of 9.2% from 2021 to 2028. The increasing awareness and preference for herbal supplements among consumers, especially in developed countries, such as the U.K. and the U.S., is expected to boost the sales of herbal products in the upcoming years. Herbs such as ginkgo biloba, ginseng, Lion's mane, curcumin, Echinacea, and Bacopa monnieri are gaining traction over the years.

Application Insights

Memory enhancement accounted for the largest share of more than 25.0% in 2020. As per the U.S. Government Accountability Office (GAO), memory enhancement supplement is a growing category of the overall dietary supplements market. The increased concern about dementia among older people boosted the adoption of memory-enhancing products. According to the data published by the WHO in September 2020, nearly 50 million people across the world have dementia. Among them, Alzheimer's disease contributes 60–70% of cases of dementia. Omega-3, green tea, turmeric/curcumin, ginseng root, and bacopa are the popular types of memory enhancement supplements in the market.

Global brain health supplements market share, by application, 2020 (%)

The depression and mood segment is expected to register the fastest CAGR of 9.0% from 2021 to 2028. The increasing rate of depression among millennials is fueling the growth of this segment. As per the data published by the WHO in January 2020, depression is a widespread mental illness. Over 264 million people over the world suffer from depression. This illness is more prevalent among women than men. According to the Centers for Disease Control and Prevention (CDC), as of 2018, 1 in 13 people aged 12 and above reported symptoms of depression in the U.S. In addition, the growing awareness regarding mental health and depression in countries, like India and Indonesia, will accelerate the adoption of such supplements.

Regional Insights

North America held the largest share of over 35.0% in 2020. As per the data published by the Global Counsel on Brain Health, around 55%–76% of service members and 75% of adults in the U.S. use dietary supplements. The high prevalence of cognitive impairments among the increasing aging population has boosted the market growth in the region. Furthermore, rising competition in the job market and growing stress among the millennials are expected to fuel the demand for the products across the region.

Asia Pacific is the fastest-growing regional market and is expected to expand at a CAGR of 10.6% from 2021 to 2028. The increasing awareness about mental health among the consumers, the easy availability of the products due to the expansion of e-commerce, and the rising purchasing power of the people in Asian countries, such as China and India, are expected to boost the product demand in the upcoming years.

Key Companies & Market Share Insights

The market is consisting of a large number of global and regional players. The key manufacturers have been strengthening their presence in the industry through various strategies, such as product launch, product and technological innovation, mergers and acquisitions, and capacity expansion. For instance, in August 2020, Elysium Health, a U.S.-based dietary supplement firm, launched its new brain health supplement, MATTER. The product is developed by the researchers of the University of Oxford. This product claims to help in slowing brain atrophy linked with age-related amnesia. The supplement combines omega-3 fatty acids, B-vitamin complex, and bilberry extract to offer cognitive benefits. Some of the prominent players in the global brain health supplements market include:

  • Teva Pharmaceutical Industries Ltd.

  • HVMN Inc.

  • Purelife Bioscience Co., Ltd.

  • Peak Nootropics

  • AlternaScript

  • Liquid Health, Inc.

  • Natural Factors Nutritional Products Ltd.

  • Reckitt Benckiser Group plc.

  • Onnit Labs, Inc.

  • Quincy Bioscience

Brain Health Supplements Market Report Scope

Report Attribute

Details

Market size value in 2021

USD 7.68 billion

Revenue forecast in 2028

USD 13.38 billion

Growth Rate

CAGR of 8.0% from 2021 to 2028

Base year for estimation

2020

Historical data

2016 - 2019

Forecast period

2021 - 2028

Quantitative units

Revenue in USD million/billion and CAGR from 2021 to 2028

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Product, application, region

Regional scope

North America; Europe; Asia Pacific; Central & South America; Middle East & Africa

Country scope

U.S.; Germany; U.K.; China; Japan; Brazil; Saudi Arabia

Key companies profiled

Teva Pharmaceutical Industries Ltd.; HVMN Inc.; Purelife bioscience Co., Ltd.; Peak Nootropics; AlternaScript; Liquid Health, Inc.; Natural Factors Nutritional Products Ltd.; Reckitt Benckiser Group plc.; Onnit Labs, Inc.; Quincy Bioscience

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Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2016 to 2028. For the purpose of this study, Grand View Research has segmented the global brain health supplements market report on the basis of product, application, and region:

  • Product Outlook (Revenue, USD Million, 2016 - 2028)

    • Natural Molecules

    • Herbal Extract

    • Vitamins & Minerals

  • Application Outlook (Revenue, USD Million, 2016 - 2028)

    • Memory Enhancement

    • Attention & Focus

    • Depression & Mood

    • Sleep & Recovery

    • Anti-aging & Longevity

    • Stress & Anxiety

  • Regional Outlook (Revenue, USD Million, 2016 - 2028)

    • North America

      • U.S.

    • Europe

      • Germany

      • U.K.

    • Asia Pacific

      • China

      • Japan

    • Central & South America

      • Brazil

    • Middle East & Africa

      • Saudi Arabia

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