Rising aging population coupled with rising incidence of Alzheimer and Dementia expected to bolster the demand for brain health supplements
According to Goldstein Research, “Rising health concerns towards preventive disease measures and growing concerns for chronic diseases increasing the consumers interest towards brain health supplements." As the health literacy improves in general public, they are increasingly turned to adopt dietary supplements to improve and maintain their health. Moreover, rising healthcare costs and incidence of chronic diseases made the consumers to opt for these products as preventive measures.
The global brain health supplements market is segmented based on ingredients, by applications, by supplements form and by distribution channel. Distribution channel is further bifurcated into online and offline channel. Online channel held the largest market share in global brain health supplements market owing to broad range of health dietary supplements as compared to supermarkets and drug stores. Moreover, e-commerce business has grown drastically in past few years, creating huge opportunity for market players.
North America accounted for the largest market of brain health supplements owing to presence of big home grown brands in the region. North America brain health supplements market valued more than USD 0.5 billion in 2016 and is estimated to reach USD 1.5 billion by 2024. Further, rising aging population and increasing death rates due to Alzheimer and Dementia in the region is anticipated to drive the growth brain health supplements market.
Brain Health Supplements: Targeting Older Consumers
Since the old age population of 65+ already outnumbered children under 14 in many developed countries such as Japan, Germany and Italy, the old aged population is expected to get double by 2030, the demand for brain health supplements that slow down mental deterioration will continue to grow. Also, the marked urgency to better understand the brain as conditions like dementia, autism, depression is becoming global concerns. According to World Health Organization, more than 35 million people are currently living with dementia which is likely to get double by 2030. Major market players are providing tailored products to the diverse needs and expectations of older consumers.
“Global Brain Health Supplements Market Outlook 2024” contains detailed overview of the global brain health supplements market in terms of market segmentation by ingredients type, by applications type, by supplements forms and by distribution channel.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis.
Global Brain Health Supplements Market Report also includes provides competitive outlook of some of the major players which includes profiling of companies such as Amway, 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. etc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments.
Overall, the report represents comprehensive synopsis on the global brain health supplements market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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