Cognitive Supplement Market Growing Aggressively

  • The cognitive health market is anticipated to be dominated by memory enhancement applications.
  • The global cognitive supplement market is anticipated to grow at a CAGR of 11% (approx.) during the forecast period with major demand from North America and Europe.
  • The global cognitive supplement market is segmented into herbal extracts, vitamins & minerals, and natural molecules.

Cognitive supplements are used to enhance or improve the memory, mood, attention, creativity, and motivation of a healthy individual. These supplements affects neurotransmission, bioenergetics, and prevents damage and dysfunction of neurons, thereby influences the cognitive functions of brain. Additionally, presence of nutrients such as Omega-3 fatty acids, and selenium, the cognitive supplements help in dealing with other dysfunction in body.

Cognitive supplements are gaining popularity across the globe owing to aggressive advertisement activities to promote the benefits of these products. Moreover, with increased number of individuals suffering of early stages of depression and anxiety, the cognitive supplements are witnessing high adoption around the world. Based on statistics from World Health Organization, a booming 264 million people are suffering from depression. To tackle this situation, government and health authorities are continuously engaged in promotion of procedures and drugs, thereby supplementing the growth of cognitive supplement market. The global cognitive supplement market is anticipated to grow at a CAGR of 11% (approx.) during the forecast period with major demand from North America and Europe.

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Cognitive supplements are gaining popularity across the globe.

Herbal extracts to witness increased adoption over coming period

The global cognitive supplement market is segmented based on product type, application, sales channel, age group and geography. Based on product type, the global cognitive supplement market is segmented into herbal extracts, vitamins & minerals, and natural molecules. The herbal extract is further sub-segmented into ginseng, ginkgo biloba, curcumin, lions mane, bacopa monnieri, and others. The vitamins & minerals sub-segment is further segmented into vitamin b, vitamin c, vitamin e, and others. Similarly, the natural mocecules are further sub-segmented into Acetyl-L-Carnitine, Alpha GPC, Citicoline, Docosahexaenoic Acid {DHA}, Huperzine A, and others. Among the product type, the herbal extract cognitive supplement dominated the market and are anticipated to grow at a steady CAGR during forecast period.

Fueled by desire to enhance cognitive health, the global market is anticipated to be dominated by memory enhancement applications.

Segmentation

The global cognitive supplement market is anticipated to grow at a CAGR of 11% (approx.).

Based on application, the global cognitive supplement market is segmented into mood & depression, memory enhancement, longevity & anti-aging, attention & focus, sleep recovery, and anxiety. The memory enhancement applications of cognitive supplement contributed a major share to the global market owing to rising demand fueled by desire to enhance memory among adult consumers, and aggressive advertisement campaigns across the globe. The attention & focus applications are anticipated to be the fastest growing segment owing to rising demand from adult and elderly consumers.

Based on geography, the global cognitive supplement market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America contributed a prominent share to the market owing to high awareness regarding cognitive supplement. Additionally, rise in number of patients suffering from depression and anxiety across the U.S. is another attribute fueling market demand. Asia Pacific is anticipated to be the most lucrative market owing to rapid adoption of cognitive supplement and presence of key players across the region.

Key players

Major players operating in the global cognitive supplement market include AlternaScript, LLC, Liquid Health, Inc., Accelerated Intelligence Inc., Natural Factors Nutritional Products Ltd., HVMN Inc., KeyView Labs, Inc., Aurobindo Pharma Limited, Quincy Bioscience, Onnit Labs, LLC and Purelife Bioscience Co., Ltd.

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Avinash Singh

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