Brain Health Supplements Market - A worth monitoring Industry
SummaryBrain health supplements are natural compounds or herbal extracts, which improve the memory, creativity, attention, motivation, and alertness in healthy individuals.
"Benefits of natural memory enhancing supplements, increase in use of memory enhancement supplements among students, and rapid growth of e-commerce have boosted the growth of the global brain health supplements market. However, poor demand in under-developed countries hampers the market growth. On the contrary, surge in consumption of brain health supplements and increase in development in emerging markets are expected to create lucrative opportunities in the near future."
According to the report, the global brain health supplements market accounted for $3.50 billion in 2017 and is projected to manifest $5.81 billion by 2023, growing at a CAGR of 8.8% from 2017 to 2023.
Growth Drivers and Industry Trends
Global brain health supplements market is divided on the basis of product, application, supplement form, age group, sales channel, and region. The market is segmented into herbal extract, vitamins & minerals, and, natural molecules. The natural molecules segment held the largest share in 2017, contributing more than half of the market. However, the herbal extracts segment is projected to manifest the fastest CAGR of 9.8% CAGR through 2023.
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On the basis of application, the market is divided into memory enhancement, mood & depression, attention & focus, longevity & anti-aging, sleep & recovery, and anxiety. The memory enhancement segment dominated the market in terms of revenue in 2017, contributing more than one-fifth of the total market. However, the attention & focus segment is expected to manifest the fastest CAGR of 10% during the forecast period.
Based on supplement form, the market is segmented into tablets, capsules, and others. The capsules segment held the largest share in 2017, contributing about two-fifths of the market and is expected to continue its dominance throughout the study period. Moreover, the market is expected to register a CAGR of 8.6% during the forecast period.
Segmentation Analysis of the Industry
On the basis of age group, the market is bifurcated into children, adults, and elderly. The adults segment held the largest share in 2017, contributing more than half of the market share. However, the children segment is projected to portray the fastest CAGR of 9.9% during the forecast period.
Based on sales channel, the market is segmented into supermarkets & hypermarkets, drug stores, online stores, and others. The supermarkets & hypermarkets segment held the largest share in 2017, contributing nearly two-fifths of the market. However, the online stores segment is estimated to register the fastest CAGR of 12.1% during the forecast period.
The market is analyzed across various regions such as North America, Europe, Asia-Pacific, and LAMEA. North America dominated the market in 2017, contributing nearly two-fifths of the market. However, the market in Asia-Pacific is expected to register a CAGR of 10.1% during the forecast period.
Industry Key Players
Global brain health supplements market report analyzes the major market players such as AlternaScript, LLC, Accelerated Intelligence Inc., Liquid Health, Inc., HVMN Inc., Natural Factors Nutritional Products Ltd., Aurobindo Pharma Limited, KeyView Labs, Inc., Onnit Labs, LLC, Purelife Bioscience Co., Ltd., and Quincy Bioscience.
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