DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Global Brain Health Supplements Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2016 to 2024" report to their offering.
The market was valued at USD 2.3 Bn in 2015, and is expected to reach USD 11.6 Bn by 2024, expanding at a CAGR of 19.6% from 2016 to 2024.
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.
In base year 2015, North America held the largest regional market for brain health supplements accounting more than half of the total market share. Strong desire to enhance brain function among adult population, higher number of baby boomer population and easy availability of quality products are driving the market growth in North America. Asia Pacific is expected to project highest growth throughout the forecast period owing to the populous countries, rising foreign investment in collaboration with the local players, economic development and increasing consumer awareness in upper-middle-income segment would drive the market growth in Asia-Pacific.
Key Market Movements:
- Change in demographics with rise in aging population is the one of the driving factors for growing demand for cognitive supplements.
- Continuous introduction of new products and high level promotional activities through portals, magazines and other media are aggressively barraging information about such supplements, thus driving growth in consumer purchases.
- Online retailing is becoming the most accepted distribution channel across the globe, particularly in the emerging markets such as Latin America, Asia Pacific and Eastern Europe.
- Continued growth of brain health supplement products will be accompanied with tightening of regulations around manufacturing standards, product safety and claims.
Key Topics Covered:
Chapter 1 Preface
Chapter 2 Executive Summary
Chapter 3 Global Brain Health Supplements Market Analysis
Chapter 4 Brain Health Supplements Market, by Type
Chapter 5 Global Brain Health Supplements Market Analysis, By Applications
Chapter 6 Brain Health Supplements Market Analysis, By Sales Channel
Chapter 7 Global Brain Health Supplements Market, By Geography
Chapter 8 Company Profiles
- Nootrobox, Inc
- Cephalon, Inc
- Purelife Bioscience Co Ltd
- Peak Nootropics
- Supnootropic Biological Technology Co Ltd
- Alternascript Llc
- Accelerated Intelligence, Inc
- Onnit Labs Llc
- Powder City Llc
- Credence Research, Inc
- Nootropic Source
- Clarity Nootropics
- Natural Factors Inc
For more information about this report visit https://www.researchandmarkets.com/research/nv4xw6/global_brain