3 Key Insights on ~US$ 15 Bn Opportunity in the Global Brain Health Supplements Market: Ken Research
The widespread recognition and acceptance of supplements, and shift in consumer preference to improve brain health to boost attention and focus, create tremendous market opportunities for the Global Brain Health Supplements Market which is forecasted to Cross ~US$ 15 Bn by 2028 says Ken Research Study.
Brain health supplements assist improve brain function such as focus, reduce stress, prevent anxiety, dementia, and depression, and improve human memory, encourage good attitudes and thought processes, make people enthusiastic, and improve such key areas of human functioning.
Ken Research shares 3 key insights on this high-opportunity market from its latest research study.
1. Product Innovation, Marketing Tactics, and Endorsements are Becoming More Widespread to Spur Market Expansion.
The market continues to expand as a result of a boost in product innovations and gaining widespread awareness of healthy lifestyles. Product safety, nutritive value, and brand familiarity are a few factors that influence consumers’ purchase decisions. Making consumers aware of the advantages of supplements based on brain health through a variety of media, including print and electronic, is also likely to influence their purchasing choices. Docosahexaenoic acid (DHA), vitamin D, vitamin B12, antioxidants, vinpocetine, and bacopa monnieri are among the main ingredients utilized in brain health supplements.
According to Ken Research estimates, the Global Brain Health Supplements Market – valued at around ~US$ 5 billion in 2017 and estimated to reach nearly ~US$ 8 billion by 2022 – is further expected to grow to around ~US$ 15 billion opportunity by 2028.
2. Rise in Consumer Awareness of The Benefits of Taking Supplements for Brain Health Drives Market Growth.
The boost in the utilization of herbal and natural products is being accompanied by a rise in consumer concern over issues related to brain health, such as memory improvement, alertness, and creativity. This is expanding the market for substances that promote brain health. Growing consumer awareness of supplements for brain health is another factor driving market expansion. Furthermore, vitamins and nutritional benefits included in brain health supplements help with stress reduction, improved attention, mood elevation, memory improvement, and defense against anxiety, depression, and dementia. Supplements for brain health are a great lifestyle item because of the hectic lifestyle and mental stress of today. Supplements or boosters for brain health are available in a range of formats, including tablets, powders, capsules, and others. Additionally, it is anticipated that the prevalence of brain disorders like Alzheimer’s, dementia, and brain tumors would have an impact on the development of this market.
According to World Health Organization, reported in 2021 that with Alzheimer’s disease being the most prevalent type and accounting for around 55.2 million instances of dementia worldwide, Alzheimer’s disease may account for 60–70% of all dementia cases.
3. Lack of Controls on the Production of Supplements, False Advertising, and Consumer Ignorance of the Product’s Availability Restrain Market Expansion.
The market expansion of supplements for brain health is anticipated to be constrained by a number of reasons, such as consumer ignorance about the product’s availability. In addition, such products are costly, and people in underdeveloped nations do not view them as absolutely necessary. People all over the world are reluctant to take brain health supplements since many believe them to be a product with a variety of side effects. Another reason is a lack of restrictions on the manufacture of supplements and false claims regarding the usefulness of the product. Manufacturing firms are allowed to advertise their products without seeking regulatory approval, which might result in items with false or misleading claims and undermine consumer confidence in products.
The U.S. Food and Drug Administration (FDA) issued 12 warning letters and 5 online advisory letters to companies in February 2019 for selling more than 58 dietary supplement products illegally and making claims that they could treat, prevent, or cure conditions like Alzheimer’s disease as well as other serious illnesses.
According to an estimate by WPP PLC, U.S. political advertising is expected to generate $13 billion in revenue this year, up from $12 billion in 2020.
For more information on the research report, refer to the below link:
Global Brain Health Supplements Market
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