Global Cognition Supplements Market

Cognition Supplements Market Size, Share, Growth Analysis, By Product Type (Natural Molecules, Herbal Extracts), By Form (Chewable, Capsules), By Application, By Distribution Channel, By Region - Industry Forecast 2025-2032


Report ID: SQMIG35H2030 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 172 | Figures: 79

Cognition Supplements Market Insights

Cognition Supplements Market size was valued at USD 8.63 Billion in 2023 and is poised to grow from USD 9.78 Billion in 2024 to USD 26.52 Billion by 2032, growing at a CAGR of 13.3% during the forecast period (2025-2032).

Cognitive supplements are well-balanced blends of herbal extracts and nutrients that are taken to improve brain functions such as concentration, memory power, attention, mood, creativity, and motivation. Concerns about Alzheimer's disease and Korsakoff syndrome among the young population, as well as the addition of vitamins and minerals as multi-ingredients, are expected to drive market acceptance of these products. The increase in RD activities in herbal constituents is driving the growth of the global cognition supplements market. Herbal drugs are being studied for their medicinal properties as well as potential pharmaceutical applications. Furthermore, an increase in the number of key players manufacturing brain health supplements product contributes to market growth.

In recent years, there has been a gradual increase in the product's adoption among American consumers, particularly millennials and the aging population. This trend is likely to continue over the course of the forecast period as well. As Americans are becoming more health conscious, supplements that target brain health have quickly become popular in the country.

People want to increase their brain's efficiency, sharpen their focus, and reduce stress. The demand for these supplements is being driven by the rising prevalence of Major Depressive Disorder (MDD) among adults in the United States. According to a report released in 2019 by the National Institute of Mental Health, 6.0% of men and 9.6% of women had MDD. Nearly 75% of U.S. adults consume dietary supplements that contain vitamins, minerals, and herbal ingredients to enhance brain health, energy, and performance, according to data released by the U.S. National Library of Medicine in April 2020. These trends are probably going to accelerate the market expansion in the nation.

US Cognition Supplements Market is poised to grow at a sustainable CAGR for the next forcast year.

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Global Cognition Supplements Market size was valued at USD 8.63 billion in 2022 and is poised to grow from USD 9.78 billion in 2023 to USD 26.55 billion by 2031, growing at a CAGR of 13.3% during the forecast period (2024-2031).

The cognitive supplements market is characterised by the presence of a few well-established players as well as several small and medium-sized players. These manufacturers are pursuing a variety of strategies, including new product launches, product portfolio expansion, and mergers and acquisitions. Several large firms are forming multiple strategic alliances in order to increase their market share and get a competitive edge. 'Hologic, Inc. ', 'GE Healthcare ', 'Siemens Healthineers ', 'Fujifilm Holdings Corporation ', 'Koninklijke Philips N.V. ', 'Canon Medical Systems Corporation ', 'Carestream Health ', 'Planmed Oy ', 'Aurora Health Care ', 'CMR Naviscan Corporation ', 'SonoCine, Inc. ', 'General Medical Merate S.p.A. ', 'Delphinus Medical Technologies, Inc. ', 'Dilon Technologies, Inc. ', 'SuperSonic Imagine ', 'Micrima Limited ', 'Volpara Health Technologies ', 'QT Ultrasound ', 'Koning Corporation ', 'iCAD, Inc.'

The young generation's mental health concerns about Alzheimer's disease and Parkinson's syndrome have led to widespread acceptance of cognition supplements and fuelled the market growth. Some of the advantages of taking cognition supplements include changes in neurotransmission, energy metabolism, and the alleviation of disorders. The increasing prevalence of insomnia, anxiety, and depression among consumers has prompted them to take these supplements to support their brain health. As a result, it contributes to market growth. The growing consumer awareness of brain health wellness has resulted in an increase in the consumption of these supplements. Aging is a significant risk factor for cognitive impairment and neurological disorders. The increase in the geriatric population in developed economies has also boosted the sales of cognition supplements. According to the US Census Bureau, the older adult population increased by 16% in 2020 and is expected to increase by 20% by 2050. These factors contribute to the growth of the market.

Growing Inclination Towards Dietary Supplements: Growing geriatric population has created numerous opportunities for dietary supplement manufacturers, as most elderly people are unable to meet their Recommended Dietary Allowances (RDA) due to inadequate dietary intake, resulting in an increase in dietary supplements, including cognition supplements. Furthermore, the increasing importance of health as a lifestyle choice has enticed many companies to enter the vitamin, mineral, and botanical segments of the market under consideration. Thus, the dietary supplements market is being driven by the intense focus on the preventive healthcare system, as well as strong endorsements and marketing efforts of lifestyle enhancement products.

Based on region, the global cognition supplements market is segmented into North America, Asia Pacific, Europe, Latin America and Middle East Africa. In 2021, North America contributed the most to the market. Consumers' growing concerns about mental health are driving demand for the product in North America. According to data published in April 2020 by the United States National Library of Medicine, nearly 75 percent of the adult population in the United States consumes dietary supplements containing vitamins, minerals, and herbal ingredients to improve brain health, energy, and performance. These trends are likely to boost the country's market growth. Loneliness and uncertainty about the future are major stressors for adolescents and young adults in America, according to data published by the American Psychological Association, which is expected to drive an increasing number of adults to consume brain health supplements for proper brain functioning. The Asia Pacific region is the fastest growing market. The rapid growth of the education sector, combined with increased awareness about brain health in China and Japan's developing economies, is expected to fuel regional demand for the product in the near future. Global corporations are collaborating with Chinese and Indian firms to manufacture natural drugs. Over the forecast period, this trend is expected to create growth opportunities for naturally derived products. The rising prevalence of Alzheimer's disease in emerging economies such as China and India has expanded the market for memory supplementation in the region. According to some studies, the prevalence of dementia in the region will rise from 23 million in 2015 to nearly 71 million by 2025.

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Global Cognition Supplements Market

Report ID: SQMIG35H2030

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