Cognition Supplements Market Forecast Report 2024-2029, Featuring Profiles of Accelerated Intelligence, HVMN, Onnit Labs, Liquid Health, Quincy Bioscience, Natural Factors and Jarrow Formulas - ResearchAndMarkets.com

The "Cognition Supplements Market - Forecasts from 2024 to 2029" report has been added to ResearchAndMarkets.com's offering.

The global cognition supplements market is anticipated to grow at a compound annual growth rate (CAGR) of 13.60% over the forecast period to reach US$118.766 billion by 2029, increasing from estimated value of US$62.780 billion in 2024.

The market for cognition supplements is expected to propel, owing to, Nootropics, or cognitive supplements, claim to improve memory, attention, and brain function in general. Caffeine, Ginkgo biloba, Bacopa monnieri, and omega-3 fatty acids are common components.

The need for cognitive health solutions among ageing populations hoping to preserve mental sharpness is driving the cognition supplements market. The market's growth is further aided by rising stress levels, hectic lifestyles, and the incidence of cognitive illnesses like Alzheimer's disease. Research demonstrating the effectiveness of certain substances and technological developments also contribute to market expansion. Furthermore, as individuals place a higher priority on general brain health and cognitive ability, the trend towards preventative healthcare and self-care rising demand for cognition supplements.

As per the World Health Organization, the population worldwide is rapidly ageing. One billion people worldwide were sixty years of age or older in 2020. By 2030, that number will have increased to 1.4 billion, or one in six persons on the planet. Furthermore, the population of those 60 and over will have doubled to 2.1 billion by 2050. It is anticipated that between 2020 and 2050, the number of people 80 years of age or older will triple, reaching 426 million.

Growth in mental health diseases

The cognitive supplements market is predicted to be significantly driven by the projected increase in mental health disorders. Complementary and alternative methods to enhance mental well-being are in greater demand due to the rising global prevalence of illnesses including anxiety, depression, and ADHD. Supplements claiming to elevate mood, lessen stress, and increase cognitive function are called cognition supplements, and they are positioned to meet this need. The cognitive supplements market is expected to increase significantly in the upcoming years as people look for ways to prevent and treat mental health concerns. This presents potential for innovation and growth in the industry.

Furthermore, self-reported mental and behavioural disorders are among the many health problems covered by the Australian Bureau of Statistics (ABS) 2020-21 National Health Survey. Only when an individual state that a mental or behavioural condition has lasted, or was anticipated to last, six months or more does the NHS record the individual as having a mental or behavioural condition during the collection period. A mental or behavioural disorder was estimated to have affected 1 in 5 (20%) Australians aged 15 and older during the collecting period (August 2020 to June 2021), according to the 2020-21 NHS (ABS 2022b).

Additionally, the National Mental Health Programme (NMHP) is being implemented in India by the government to provide accessible and reasonably priced mental healthcare facilities. The National Health Mission offers support to States and UTs for the District Mental Health Programme (DMHP), a component of the NMHP, which has been approved for implementation in 704 districts. The DMHP provides outpatient services, assessment, counselling, psycho-social interventions, ongoing care and support for individuals with severe mental disorders, medication, outreach services, ambulance services, and other services at the Community Health Centre (CHC) and Primary Health Centre (PHC) levels.

The United States market is expected to hold significant market share

The United States global cognition supplements market is expected to grow significantly, owing to the rising number of older people in the country suffering from dementia and cognitive impairment. The number of elderly people in the United States has been steadily increasing, which has led to an increase in the prevalence of mental health conditions like dementia. Throughout the forecast period, this is expected to expand the product's application scope and boost overall market growth. For instance, the prevalence of Alzheimer's dementia rises with age: 5% of those 65 to 74, 13.1% of those 75 to 84, and 33.3% of those 85 years of age and above have the disease in the United States.

Further, consumer preferences have shifted in favour of herbal health products that contain ingredients like matcha tea, caffeine, beets, spinach, Brahmi, Arctic root, turmeric, ginseng, and pine bark in the last few years. Furthermore, it is anticipated that the growing vegan population in the United States will increase demand for herbal products.

Moreover, the dietary and natural supplement industries in this region are well-established, which will contribute to their high growth during the forecast period. For instance, it was projected that the total sales of dietary supplements in the United States in 2020 would be $55.7 billion, $21.2 billion were attributed to supplements that contain vitamins, minerals, or both, with $8.0 billion going toward multivitamins/minerals (MVM) and multivitamins (MVs).

Furthermore, the growing prevalence of mental health issues like anxiety, stress, and depression is supporting the industry's growth. For instance, the Anxiety and Depression Association of America estimates that 6.8 million adult Americans have general anxiety disorder, or GAD.

Key Market Developments:

• In, February 2024, Neuriva, a well-known brain health supplement manufactured by Reckitt, introduced the first-ever 30-Day Brain Health Challenge in the category, which is a daily dedication to cognitive health. The challenge, an exciting new addition to the well-known Neuriva Brain Gym programme, consists of several easy, everyday exercises and games that add interest and education to creating a routine for brain health.
• In February 2024, BrainPromise, a new product developed by EyePromise, for brain protection, function, and health, was introduced. With a host of other benefits, BrainPromise provides complete brain nutrition by supplying vital vitamins and minerals, such as the antioxidants lutein and zeaxanthin, which have been shown in numerous published studies to be effective in combating oxidative stress.

Key Attributes:

Key Topics Covered:

1. INTRODUCTION

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

3.1. Key Findings

3.2. Analyst View

4. MARKET DYNAMICS

4.1. Market Drivers

4.2. Market Restraints

4.3. Porter's Five Forces Analysis

4.4. Industry Value Chain Analysis

4.5. Russia-Ukraine War Impact Analysis

5. GLOBAL COGNITION SUPPLEMENTS MARKET BY PRODUCT TYPE

5.1. Introduction

5.2. Natural Molecules

5.3. Herbal Extract

5.4. Vitamins & Minerals

6. GLOBAL COGNITION SUPPLEMENTS MARKET BY FORM

6.1. Introduction

6.2. Chewable

6.3. Capsules

7. GLOBAL COGNITION SUPPLEMENTS MARKET BY DISTRIBUTION CHANNEL

7.1. Introduction

7.2. Supermarkets/Hypermarkets

7.3. Medical Stores

7.4. Online Retail Stores

8. GLOBAL COGNITION SUPPLEMENTS MARKET BY GEOGRAPHY

9. COMPETITIVE ENVIRONMENT AND ANALYSIS

9.1. Major Players and Strategy Analysis

9.2. Market Share Analysis

9.3. Mergers, Acquisition, Agreements, and Collaborations

9.4. Competitive Dashboard

10. COMPANY PROFILES

• Accelerated Intelligence
• HVMN Inc.
• Onnit Labs, Inc. (Unilever United States)
• Liquid Health, Inc.
• Quincy Bioscience - The Makers of Prevagen
• Natural Factors Inc.
• Jarrow Formulas, Inc.

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