Published Date: 19-Feb-2021
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According to a new report Global Brain Health Supplements Market, published by KBV research, The Global Brain Health Supplements Market size is expected to reach $11.3 billion by 2026, rising at a market growth of 11.6% CAGR during the forecast period.
Due to the pandemic, there was a complete lockdown in many countries that lead to increased cases of depression, stress, insomnia, anxiety, and fear. Nowadays, many people are complaining about difficulties to focus, the mental health of most people is severely affected due to fear, isolation, financial challenges, grief, and job losses. The COVID-19 pandemic has increased the sales of the products. Thus, the major of the people around the world is looking for improving their brain health and this would lead in increasing sales of products across the world.
The depression and mood segment would grow at a significant CAGR over the forecast years. The cases of depression are increasing among millennials and it is driving the growth of this segment. According to the WHO published data in January 2020, depression is a prevalent mental illness. More than 264 million people suffer from depression across the globe.
The Natural Molecules market dominated the Global Brain Health Supplements Market by Product in 2019. Among the product segment, the herbal extract products would showcase promising CAGR during the forecast period. The sales of herbal products are expected to boost due to the rising the preference for herbal supplements among consumers, especially in developed countries, like the U.K. and the U.S. Various herbs are becoming popular in the brain health supplements market such as ginkgo biloba, Lion's mane, curcumin, ginseng, Echinacea, and Bacopa monnieri.
North America dominated the market in 2019. Asia Pacific would showcase promising growth in the brain supplement market. The awareness about mental health is increasing among the consumers, the easy accessibility of the products on the offline and online platform due to the growth of e-commerce platforms and the increasing disposable income of the people in Asian countries, like China and India, are anticipated to boost the product demand during the forecast period.
There are no suitable regulations to assess the purity of the ingredients in these brain supplements, moreover, the authenticity claimed by manufacturers of the product is also not get regulated, and hence, hinders the adoption rate. The major concern of the buyers is about the efficiency of these supplements in enhancing brain functions.
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Reckitt Benckiser Group PLC, Teva Pharmaceuticals Industries Ltd., H.V.M.N., Inc., Purelife Bioscience Co., Ltd., Peak Nootropics (Advanced Nootropics), AlternaScript, Liquid Health, Inc., Natural Factors, Onnit Labs, Inc., and Quincy Bioscience LLC.
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