Cognitive Supplements Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2020–2030
Cognitive supplements are the nutritive supplements for the brain and cognitive functions such as concentration, mood stability, alertness, memory and motivation. Cognitive supplements include nutrients such as vitamins, national molecules, herbal extracts, etc. According to the World Health Organization (WHO), over 50 million people in the world are affected by dementia. The elevating awareness and innovations for cognitive supplements are leveraging the market growth. Several market players with their promotional activities are attracting a huge customer base. These factors are pushed further by the surging cases of dementia, loss of concentration and others, during the era where the demand for memory and focus is on high priority. The global cognitive supplements market is expected to grow with the escalating adoption of the cognitive supplements, rising awareness, surging cases of Alzheimer and other brain disorders, innovative products and promotions of the manufacturers. Coronavirus pandemic has positively impacted the global cognitive supplements market. The market has seen a surge in the demand for supplements such as vitamins, essential oils, minerals, etc. to boost immunity and cognitive functions.
Cognitive Supplements Market: Drivers and Restraints
The growth of the global cognitive supplements market is driven by the increasing cases and concerns of brain diseases such as parental concerns to elevate the memory, concentration and enhanced mental functions. The expanding geriatric population and surging cases of dementia, availability of a vast spectrum of cognitive supplements for mood calming effects and sleep in a stressful life, are also pushing the market. The cognitive supplements are available in the market with an attractive and innovative blend of supplements which attracts a huge customer base, accessed easily by online and retrial distributors. However, the global cognitive supplements market is restrained by their high expenses, adverse effects of the cognitive supplements such as high blood pressure, elevated heart rate, addiction and others. Although, the global cognitive supplements market is expected to grow further with the increasing demand of the cognitive supplements, new innovating products and attractive promotional activities which is expected to attract more customers in future.
Cognitive Supplements Market: Segmentation
The global cognitive supplements market is segmented into product, application, form, age group, distribution channel and region.
By product, the global cognitive supplements market is further segmented into:
Vitamins and Minerals
By Application, the global cognitive supplements market is further segmented into:
By Form, the global cognitive supplements market is further segmented into:
By Age Group, the global cognitive supplements market is further segmented into:
By Distribution Channel, the global cognitive supplements market is further segmented into:
Cognitive Supplements Market: Overview
The global cognitive supplements market is expected to elevate with the surging cases of dementia and other cognitive impairments, surging demands of such supplements driven by the rising awareness. By product, the segmented is expected to be ruled by the natural molecules due to their highest adoption rate for their efficacy and multiple benefits for body and brain. By application, the market is segmented into dementia and memory enhancement, depression, anxiety, sleep deficiencies, attention & focus and mood stability. By form, the cognitive supplements are available as capsules, tablets and other firms. By age group, the market is divided into elders, adults and children. By distribution channel, the segment is expected to be driven by the online retailers due to the ease of buying and attractive offers at the e-commerce websites.
Cognitive Supplements Market: Regional Outlook
North America is expected to lead the global cognitive supplements market due to their highest numbers of product launches, high awareness of the cognitive supplements for cognitive complications. Europe is anticipated to hold the second-largest cognitive supplements market owing to the massive demand for cognitive supplements for brain health. The Asia-Pacific cognitive supplements market is expected to grow at the highest pace due to their large massive demand for herbal products, huge customer base, and rising awareness. Latin America cognitive supplements market is expected to grow gradually with the increasing awareness of the cognitive supplements product and cognitive complications. The Middle East &Africa cognitive supplements market is expected to be laggard in growth due to the lack of awareness.
Cognitive Supplements Market: Key Players
The key players of the global cognitive supplements market include HVMN Inc., Purelife Bioscience Co Ltd., Nutrico, Aurobindo Pharma, SupNootropic Biological Technology Co. Ltd., Quincy Bioscience and others.
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