Global Cognitive Supplements Market to Reach US$ 978.8 Million by 2032, Fueled by Increase in Aging Population

September 08, 2023 | Food & Beverages

According to the latest report by IMARC Group, titled “Cognitive Supplements Market by Product Type (Natural Molecules, Herbal Extract, Vitamins and Minerals), Form (Chewable, Capsules), Distribution Channel (Supermarket/Hypermarket, Medical Stores, Online Retail Stores, and Others), and Region 2024-2032,” the global cognitive supplements market size reached US$ 401.9 Million in 2023. Cognitive supplements refer to a category of specialized products designed to support and enhance cognitive functions, such as memory, focus, concentration, and overall brain health. These supplements often include a combination of vitamins, minerals, herbal extracts, and other bioactive compounds that have been associated with cognitive enhancement. Cognitive supplements help optimize brain performance, especially in today's fast-paced and demanding work environments. These supplements come in various forms, including pills, capsules, powders, and beverages, making them accessible and convenient for users seeking to augment their cognitive abilities. As industries continue to prioritize employee productivity and mental agility, the demand for cognitive supplements has been witnessing an upward trend.

Global Cognitive Supplements Market Trends:

With the intensifying demands of knowledge-based economies, individuals across various professional spheres are seeking solutions to enhance their cognitive prowess, primarily driving the global cognitive supplements market. Besides this, extensive funding in research and development (R&D) indicating a connection between specific nutrients and cognitive functions is creating a positive outlook for market expansion. Moreover, the aging population and the desire to maintain cognitive sharpness and stave off age-related cognitive decline are fueling the demand for effective cognitive supplementation. Concurrent with this, the rising prevalence of stress and mental fatigue in modern lifestyles has prompted individuals to explore cognitive supplements as a means to boost mental resilience and acuity, thereby strengthening the market growth. The workplace culture heavily relies on information processing and multitasking, further propelling the demand for products that can provide a mental edge. Additionally, rising consumer interest in holistic well-being and preventative healthcare as consumers are increasingly valuing cognitive health as an integral part of their overall wellness journey is presenting lucrative growth opportunities for the market. Furthermore, significant advancements in nutritional science and the development of innovative formulations are expanding the options available to consumers, making cognitive supplements more tailored and effective. Apart from this, the trend towards e-commerce and digital platforms and aggressive marketing strategies by manufacturers have significantly boosted the market's growth. Looking forward, the market value is projected to reach US$ 978.8 Million by 2032, expanding at a CAGR of 10.25% during 2024-2032.

Market Summary:

On the basis of the product type, the market has been divided into natural molecules, herbal extract, and vitamins and minerals.
Based on the form, the market is bifurcated into chewable and capsules.
On the basis of the distribution channel, the market has been segregated into supermarket/hypermarket, medical stores, online retail stores, and others.
Based on the region, the market has been segmented into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, and others), Latin America (Brazil, Mexico, and others), and the Middle East and Africa.
The competitive landscape of the market has also been examined, with some of the key players being 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.

Report Scope:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	US$ Million
Product Types Covered	Natural Molecules, Herbal Extract, Vitamins and Minerals
Forms Covered	Chewable, Capsules
Distribution Channels Covered	Supermarket/Hypermarket, Medical Stores, Online Retail Stores, Others
Regions Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	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.
Customization Scope	10% Free Customization
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Global Cognitive Supplements Market to Reach US$ 978.8 Million by 2032, Fueled by Increase in Aging Population

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