Credence Research, the leading business intelligence provider, has published its latest research, "Brain Health Supplements Market 2024", which gives insights into Brain Health Supplements in the Global market. The report determines the market size for 2018, along with forecasts until 2024. It is built using data and information sourced from exclusive databases, primary and secondary research, and in-house analysis carried out by Credence Research’s team of industry experts.Market Insights:
Brain health supplements are used to enhance memory, attention, mood, creativity, motivation in healthy individuals. Increasing awareness among college students, scientists, entrepreneurs and investment bankers are opting for memory enhancers to sharpen their minds to gain an edge on the competition. It is anticipated that, brain health supplements industries would show significant market growth during forecast period.
The key factors assisting the market growth of brain health supplements are strong desire to enhance brain function among adult population, increasing number of self-directed consumers and high penetration of promotional activities carried out by key players.
There are several ingredients are used throughout the world to enhance brain function such as Acetyl-L-Carnitine, Ginkgo, Ginseng, Alpha GPC, BacopaMonnieri, DHA and Tryptopha. Alpha GPC containing brain health supplements occupies largest market share while BacopaMonnieri containing brain health supplements will be the fastest growing market among the all ingredients during the forecast period.
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The key applications of brain health supplements inlcude memory enhancement, mood and depression, attention and focus, longevity and anti-aging, sleep recovery and dream enhancement, and anxiety. In base year 2015, memory enhancement segment was observed to be the largest segment and is anticipated to maintain its lead during the forecast period of 2016 – 2024. The key factors assisting the growth of memory enhancement segment include growing awareness regarding the benefits majorly in the college students, scientists, entrepreneurs in developed nations opting for memory enhancers to sharpen their minds to gain an edge on the competition.
In terms of sales channel, online stores held the largest market in the global brain health supplements market due to availability of wide variety of products as compared to supermarkets/hypermarkets and drug stores. The variety in price points, private labels, product launches, broad product ranges, and discounts offered have increased the popularity online stores. Moreover, the frequency of online searches has grown significantly in the past years, creating greater business opportunities for the market.
Leading Players:
The companies have untapped opportunities in the developing regions of Asia Pacific and Latin America. Companies are coming up with various products in the developed nations due to high acceptance and accessibilities of these products. The companies include, Nootrobox, Cephalon, Purelife Bioscience Co. Ltd., Onnit Labs LLC, Natural Factors and Others.
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