According to Coherent Market Insights, the global brain health supplements market is estimated to be valued at US$ 7,038.0 million in 2020 and is expected to exhibit a CAGR of 8.5% during the forecast period (2020-2027).
Key Trends and Analysis:
Key trends in the market include rising incidence of depression, anxiety and stress levels, increasing health awareness, and product launches.
Rising incidence of Alzheimer, depression, anxiety, stress, and other mental health conditions is expected to contribute to the growth of the brain health supplements market. For instance, according to data published by Alzheimer’s Association in 2017, around 5.5 million people in the U.S. of all ages were suffering from Alzheimer’s dementia.
Moreover, key players operating in the market are focused on product launches in order to expand their offerings. For instance, in June 2020, Elysium Health, in partnership with University of Oxford, U.K., announced the launch of Matter – a brain health supplement which is based on the Oxford’s VITACOG study which contains vitamin B, omega 3 lysine complex and bilberry extract for cognitive health and memory loss treatment.
Market players are investing in validating efficiency of novel products in the market. Moreover, market players are committed to offering new and improved products to address the critical unmet need for brain health supplements. For instance, in May 2020, a study conducted by researchers from Central Queensland University in collaboration with the Deakin University in Australia and Nanyang Technological University in Singapore showed positive results for USANA CopaPrime, a product of USANA Health Sciences, Inc.
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Key Market Takeaways:
The global brain health supplements market is expected to exhibit a CAGR of 8.5% during the forecast period, owing to increasing product launches. For instance, in April 2015, Cerebral Success, a brain-health company announced the launch of SmartX, a combination of Cognizin Citicoline with other brain health supplements to enhance and improve mental energy and focus. The company has made its products available through distribution channels such as GNC stores, Amazon.com and eSupplements.com, luckyvitamin.com.
North America is expected to hold a dominant position in the global brain health supplements market during the forecast period owing to increasing health awareness, high expenditure on supplements and adoption of inorganic growth strategies by market players. For instance, in January 2015, Synergy Strips Corp announced the acquisition of FOCUSfactor a brain health supplement brand, an asset from the Factor Nutrition Labs, LLC. The FOCUSfactor is sold at retail stores such as Costco, Sam’s Club, Walmart, Walgreens, CVS and The Vitamin Shoppe.
Key players operating in the global brain health supplements market are 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.
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Global Brain Health Supplements Market, By Product Type:
Vitamins & Minerals