The direct effect of COVID-19 on the Brain Health Supplements Market
According to the latest report by IMARC Group “<strong>Brain Health Supplements Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027</strong>“, The global brain health supplements market reached a value of US$ 5.2 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 9.0 Billion by 2027, exhibiting a CAGR of 9.3% during 2022-2027.
Brain health supplements are used to enhance memory, improve thinking ability, increase focus, and boost the mood of individuals. These supplements comprise vitamin B, nitrate, caffeine, gingko biloba, ginseng, adaptogenic mushrooms, and many other minerals and herbs. They are highly affordable and widely available in pills, liquid, and powder forms. They offer numerous benefits, such as enhancing concentration and cognitive function, preventing memory loss, boosting mental performance, and reducing depression and anxiety. They facilitate the neurotransmitter level in the brain by inhibiting excess acetylcholinesterase (AChE) activity, improving blood circulation inside the brain, and providing a sufficient supply of oxygen to the brain cells. As a result, brain health supplements find applications in decreasing the risk of various brain diseases, such as Alzheimer’s, Parkinson’s, dementia, amyotrophic lateral sclerosis, Friedreich ataxia, Huntington’s, Lewy body, and spinal muscular atrophy.
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<strong>Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.</strong>
<strong>Market Trends:</strong>
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At present, the rising awareness among the masses about the harmful impact of mental health issues, such as anxiety, depression, and low concentration, represents one of the key factors driving the market. Besides this, the growing prevalence of brain cancer among the masses due to the increasing geriatric population and air pollution, overdiagnosis, and ionizing radiation is currently offering a positive market outlook. In addition, there is a rise in the consumption of brain health supplements among students to enhance memory and score well in academics across the globe. This, coupled with the growing hectic lifestyles and mental stress among individuals, is catalyzing the demand for brain health supplements. Apart from this, there is an increase in the demand for natural and herbal extract supplements to boost immunity without any side effects while providing symptomatic relief to consumers. This, along with the growing adoption of veganism around the world, is positively influencing the market. Moreover, the wide availability of brain health supplements through online and offline distribution channels, along with the thriving e-commerce industry, is offering a lucrative growth opportunity to industry investors. Additionally, the rising demand for omega-3s to build brain and nerve cells and protect the brain against cognitive decline is propelling the growth of the market. In line with this, the escalating demand for brain health supplements to increase alertness by blocking the formation of adenosine is bolstering the growth of the market. Furthermore, the increasing demand for brain health supplements among individuals to reduce insomnia and anti-aging is strengthening the growth of the market.
<strong>Breakup by Product:</strong>
<ul>
<li>Natural Molecules</li>
<li>Herbal Extract</li>
<li>Vitamins and Minerals</li>
</ul>
<strong>Breakup by Form:</strong>
<ul>
<li>Tablets and Capsules</li>
<li>Powder</li>
<li>Others</li>
</ul>
<strong>Breakup by Distribution Channel:</strong>
<ul>
<li>Supermarkets and Hypermarkets</li>
<li>Drug Stores</li>
<li>Online Stores</li>
<li>Others</li>
</ul>
<strong>Breakup by Application:</strong>
<ul>
<li>Memory Enhancement</li>
<li>Attention and Focus</li>
<li>Depression and Mood</li>
<li>Sleep and Recovery</li>
<li>Anti-aging and Longevity</li>
<li>Others</li>
</ul>
<strong>Market Breakup by Region:</strong>
<ul>
<li>North America (United States, Canada)</li>
<li>Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)</li>
<li>Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)</li>
<li>Latin America (Brazil, Mexico, Others)</li>
<li>Middle East and Africa</li>
</ul>
<strong>Competitive Landscape with Key Player:</strong>
<ul>
<li>Accelerated Intelligence Inc.</li>
<li>AlternaScript</li>
<li>Aurobindo Pharma</li>
<li>HVMN Inc.</li>
<li>Liquid Health Inc.</li>
<li>Natural Factors Nutritional Products Ltd.</li>
<li>Onnit Labs Inc.</li>
<li>Purelife Bioscience Co. Ltd.</li>
<li>Quincy Bioscience LLC</li>
<li>Reckitt Benckiser Group plc.</li>
<li>Teva Pharmaceutical Industries Ltd.</li>
</ul>
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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The direct effect of COVID-19 on the Brain Health Supplements Market
