The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

As per The Business Research Company’s Cognitive Supplements Global Market Report 2024, the cognitive supplements market is expected to show significant growth in the forecast period.

Market Growth Overview

• The cognitive supplements market has experienced rapid growth recently.
• Market size increased from $0.43 billion in 2023 to $0.48 billion in 2024.
• Compound annual growth rate (CAGR) of 13.4% between 2023 and 2024.
• Factors driving growth include increased awareness of cognitive health benefits, rising prevalence of age-related cognitive decline, and the adoption of nootropics and smart drugs.

Projected Market Expansion

• The market is expected to reach $0.81 billion by 2028.
• Forecasted CAGR of 13.6% from 2024 to 2028.
• Key growth drivers: rising prevalence of neurological disorders, expansion of e-commerce platforms, increasing consumer focus on mental wellness, higher disposable income levels, and the expansion of retail networks and pharmacies.

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Major Trends in Cognitive Supplements

• Emerging Technologies: Advances in technology are enhancing product efficacy and delivery.
• Nootropic Supplements: Growing popularity of supplements aimed at improving cognitive function.
• Natural and Herbal Ingredients: Increased demand for products with natural and herbal formulations.
• Subscription-Based Models: Convenience and personalization offered through subscription services.
• Sustainable Sourcing: Emphasis on sustainable and ethical sourcing practices.

The Rising Demand for Cognitive Supplements in an Aging Society

• The aging population is a significant driver of market growth.
• Improved healthcare and longer life expectancy contribute to a growing elderly demographic.
• Cognitive supplements are tailored to enhance cognitive performance, memory, and overall brain health for older adults.
• Example: The Population Reference Bureau reports the number of Americans aged 65 and older will rise from 58 million in 2022 to 82 million by 2050.

Key Players in the Cognitive Supplements Market

• Major companies include Amway Corporation, Lonza Group AG, Glanbia PLC, Herbalife Nutrition Ltd., Swanson Health Products, NOW Health Group Inc., Thorne Healthtech Inc., Life Extension, and more.
• These companies are instrumental in driving innovation and expanding market reach.

Revolutionizing Cognitive Wellness with Subscription-Based Intelligence

• Subscription-based models are transforming how consumers access cognitive supplements.
• These models offer personalized and convenient solutions.
• Example: Estrid launched April, a wellness brand providing vegan, subscription-based supplements combining modern science with traditional herbal medicines.
• April offers supplements like Multi-Me for cognitive function and energy, Glow Service for collagen production, and Club Calm for psychological support.

Thorne HealthTech Expands Brain Health Portfolio with PreCon Health Acquisition

• In February 2023, Thorne HealthTech Inc. acquired PreCon Health Inc.
• This acquisition strengthens Thorne’s brain health portfolio and provides access to a robust scientific advisory board.
• PreCon Health Inc. specializes in developing cognitive supplements for healthy brain function.

Market Segmentation

• By Product Type: Natural Molecules, Herbal Extract, Vitamins and Minerals.
• By Form: Chewable, Capsules.
• By Distribution Channel: Supermarket, Medical Stores, Online Retail Stores, Other Distribution Channels.

Regional Insights

• North America was the largest region in the cognitive supplements market in 2023.
• Asia-Pacific is expected to be the fastest-growing region during the forecast period.

The cognitive supplements market is set for substantial growth, driven by an aging population, increased awareness of cognitive health, and innovative product offerings. Key players are adopting trends such as subscription models and sustainable practices to stay competitive and meet consumer demands.

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The Cognitive Supplements Global Market Report 2024  provides an in-depth analysis on the cognitive supplements market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the cognitive supplements market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

View More Related Reports –

Cognitive Assessment And Training In Healthcare Global Market Report 2024

Cognitive Process Automation Global Market Report 2024

Cognitive Services Global Market Report 2024

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