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Global Brain Health Supplements Market 2017- Revenue, Price and Gross Margin Research Report 2024

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SUMMARY

WiseGuyReports published new report, titled “Global Brain Health Supplements Market Outlook”

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.

 

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Market Segmentation 

  • By Ingredients 

o Acetyl-L-Carnitine
o Ginkgo
o Ginseng
o Alpha GPC
o Bacopa Monnieri
o DHA
o Tryptophan
o Others

  • By Applications 

o Memory Enhancement
o Mood and Depression
o Attention and Focus
o Longevity and Anti-Aging
o Insomnia and Dream Enhancement
o Anxiety

  • By Supplements Form 
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o Tablets/Capsules
o Liquid
o Powder
o Chewable

  • By Distribution Channels 

o Online
o Offline (Retailers, Wholesalers etc.) 

  • By End Users 

o Children
o Adults
o Elderly Population

 

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.

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Key Market Players 

  • Amway
    o Synopsis
    o Business Strategy
    o Product Portfolio
    o SWOT Analysis
    • 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.

 

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Wise Guy Reports is part of the Wise Guy Research Consultants Pvt. Ltd. and offers premium progressive statistical surveying, market research reports, analysis & forecast data for industries and governments around the globe.

 

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