Report : North America Brain Health Supplements Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Product (Natural Molecules, Herbal Extract, and Vitamins and Minerals), Application (Memory Enhancement, Attention and Focus, Depression and Mood, Sleep and Recovery, Antiaging and Longevity, and Others), Dosage Form (Capsules, Tablets, and Others), Distribution Channel (Supermarket and Hypermarket, Drug Store, Online, and Others), and Age Category (Adults, Children, and Elderly)
At 11.9% CAGR, the North America Brain Health Supplements Market is speculated to be worth US$ 5,900.73 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the North America brain health supplements market was valued at US$ 3,001.72 million in 2022 and is expected to reach US$ 5,900.73 million by 2028, registering a CAGR of 11.9% from 2022 to 2028. Growing prevalence of major depressive disorders and increasing demand for brain supplements among elderly population are the critical factors attributed to the North America brain health supplements market expansion.
The US, Canada, and many other countries are focused on the modernization of healthcare facilities and improvements in healthcare services. The subsequently rising life expectancy of people leads to the growth of the geriatric population in these countries. According to data published by the WHO in February 2018, the elderly population is estimated to rise from 12% in 2015 to 22% by 2050. Moreover, per the US Census Bureau report, the number of people with age 65 and above is anticipated to grow from 46 million (~15% of the population) in 2016 to more than 98 million (~24% of the population) by 2060 in the US. Aging causes changes in brain size, cognition, and vasculature, and the changes happen at all levels, from molecular to morphological. The brain changes that may affect cognition and behavior occur due to molecular aging, tissue aging, intercellular and intracellular aging, and organ changes. The cases of stroke, dementia, and white matter lesions also rise with age, as does the level of memory impairment with alterations in neurotransmitter and hormone levels. Elderly people with an inadequate intake of micronutrients and antioxidants may be at a higher risk of alterations in brain functioning, and loss of mental and emotional abilities. With growing age being a major risk factor for dementia and cognitive impairment, cognitive fitness has become crucial in the last several years. Currently, there are no effective preventive strategies available for cognitive decline. Brain supplements are among the most common alternative and complementary medicines used by patients. Thus, the increasing demand for brain supplements among the elderly population bolsters the growth of the North America brain health supplements market. This is expected to drive the North America brain health supplements market during the forecast period.
On the contrary, lack of regulations and false claims by manufacturers hurdles the growth of North America brain health supplements market.
Based on product, the North America brain health supplements market is categorized into natural molecules, herbal extract, and vitamins and minerals. The natural molecules segment held 47.9% market share in 2022, amassing US$ 1,438.02 million. It is projected to garner US$ 2,776.88 million by 2028 to expand at 11.6% CAGR during 2022–2028. Further, natural molecule is segmented as acetyl-carnitine, citicoline, huperzine-A, alpha GPC, docosahexaenoic acid (DHA), and others. Additionally, herbal extract is further segmented as ginseng, curcumin, lion's mane, ginkgo biloba, bacopa monnieri, and others. Further, vitamins & minerals is further sub-segmented as vitamins C & E, vitamin B complex, and others.
Based on application, the North America brain health supplements market is categorized into memory enhancement, attention and focus, depression and mood, sleep and recovery, anti-aging and longevity, and others. The memory enhancement segment held 30.3% market share in 2022, amassing US$ 909.78 million. It is projected to garner US$ 1,820.93 million by 2028 to expand at 12.3% CAGR during 2022–2028.
Based on dosage form, the North America brain health supplements market is categorized into capsules, tablets, and others. The others segment held 42.9% market share in 2022, amassing US$ 1,288.60 million. It is projected to garner US$ 2,609.54 million by 2028 to expand at 12.5% CAGR during 2022–2028.
Based on distribution channel, the North America brain health supplements market is categorized into supermarket and hypermarket, drug store, online, and others. The supermarket and hypermarket segment held 38.8% market share in 2022, amassing US$ 1,165.48 million. It is projected to garner US$ 2,321.18 million by 2028 to expand at 12.2% CAGR during 2022–2028.
Based on age category, the North America brain health supplements market is categorized into adults, children, and elderly. The adults segment held 45.9% market share in 2022, amassing US$ 1,377.11 million. It is projected to garner US$ 2,790.16 million by 2028 to expand at 12.5% CAGR during 2022–2028.
Based on country, the North America brain health supplements market has been categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 67.1% market share in 2022. It was assessed at US$ 2,014.15 million in 2022 and is likely to hit US$ 4,036.10 million by 2028, exhibiting a CAGR of 12.3% during the forecast period.
Key players dominating the North America brain health supplements market are Danone SA; Health Via Modern Nutrition Inc.; LIQUID HEALTH, INC.; Natural Factors; Unilever PLC; Peak Nootropics; Purelife bioscience Co., Ltd.; Quincy Bioscience; Procera Health; and Harbin Pharmaceutical Group Co., Ltd. among others.
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