Cognitive Supplements Market

Market Overview:

The global cognitive supplements market size reached US$ 401.9 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 978.8 Million by 2032, exhibiting a growth rate (CAGR) of 10.25% during 2024-2032. The surging prevalence of cognitive diseases, increasing awareness about mental health, and the growing sales via online pharmacy websites represent some of the key factors driving the market.

Cognitive supplements, also known as nootropics, are a class of compounds that aid in improving cognitive functions, such as memory, focus, attention, language, and perception, boosting energy levels, and enhancing overall brain health. They are made using caffeine, L-theanine, creatine, omega-3 fatty acids, ginkgo biloba, bacopa monnieri, and other natural ingredients like vitamins, minerals, and other herbal extracts. They help in increasing blood flow to the brain, supporting the production of neurotransmitters, and reducing oxidative stress in the brain. They are commonly available in various forms, including pills, capsules, powders, and drinks. Presently, leading manufacturers operating worldwide are offering personalized supplements formulations as per the cognitive profile of individuals. 

Cognitive Supplements Market Trends:

There is an increase in the prevalence of cognitive diseases, such as Parkinson's, Alzheimer's, multiple sclerosis, and traumatic brain injury. This, coupled with the growing aging population, which is more prone to these medical conditions, represents one of the major factors driving the demand for cognitive supplements around the world. Moreover, the rising awareness among people about mental health is favoring the growth of the market. In addition, the increasing health consciousness among the masses and busy lifestyles are catalyzing the demand for cognitive supplements to improve their overall functioning throughout the day. Apart from this, product manufacturers are offering sustainably sourced plant-based variants to cater to the vegan population. This, along with the increasing adoption of veganism, is propelling the growth of the market. Furthermore, due to the growing influence of social media platforms on the purchasing decision of consumers, key manufacturers are extensively investing in digital marketing campaigns, celebrity endorsements, and other promotional activities to expand their consumer base. Besides this, the rising awareness about the easy availability of cognitive supplements via online pharmacy websites and applications that support home delivery, cashback, discounts, and innumerable payment options is contributing to the growth of the market. They generally involve generic supplements that are readily available over the counter (OTC) and by prescription for relieving pain associated with cognitive diseases. Additionally, the growing consumption of cognitive supplements among sportspeople for various competitive sports is creating a positive outlook for the market. 

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global cognitive supplements market, along with forecasts at the global, regional, and country levels from 2024-2032. Our report has categorized the market based on product type, form, and distribution channel.

Product Type Insights:

• Natural Molecules
• Herbal Extract
• Vitamins and Minerals
   

The report has provided a detailed breakup and analysis of the cognitive supplements market based on the product type. This includes natural molecules, herbal extract, and vitamins and minerals.

Form Insights:

• Chewable
• Capsules
   

A detailed breakup and analysis of the cognitive supplements market based on the form has also been provided in the report. This includes chewable and capsules.

Distribution Channel Insights:

• Supermarket/Hypermarket
• Medical Stores
• Online Retail Stores
• Others
   

The report has provided a detailed breakup and analysis of the cognitive supplements market based on the distribution channel. This includes supermarket/hypermarket, medical stores, online retail stores, and others.

Regional Insights:

• North America
  • United States
  • Canada
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Others
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America (the United States and Canada) was the largest market for cognitive supplements. Some of the factors driving the North America cognitive supplements market included a well established healthcare facilities, marketing campaigns, easy availability, etc.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global cognitive supplements market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include Amway Corp., Glanbia PLC, Herbalife Nutrition Ltd., HVMN Inc., Jarrow Formulas Inc., Liquid Health Inc., Lonza Group AG, Natural Factors Inc., NOW Health Group Inc., Onnit Labs Inc. (Unilever plc), etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Report Coverage:

Key Questions Answered in This Report:

• How has the global cognitive supplements market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global cognitive supplements market?
• What is the impact of each driver, restraint, and opportunity on the global cognitive supplements market?
• What are the key regional markets?
• Which countries represent the most attractive cognitive supplements market?
• What is the breakup of the market based on the product type?
• Which is the most attractive product type in the cognitive supplements market?
• What is the breakup of the market based on the form?
• Which is the most attractive form in the cognitive supplements market?
• What is the breakup of the market based on the distribution channel?
• Which is the most attractive distribution channel in the cognitive supplements market?
• What is the competitive structure of the global cognitive supplements market?
• Who are the key players/companies in the global cognitive supplements market?

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the cognitive supplements market from 2018-2032.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global cognitive supplements market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the cognitive supplements industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.