Global Brain Health Supplements Market 2017-2021
About Brain Health Supplements
Brain health supplements can be defined as any dietary supplements, which either supports, stimulates, or inhibits the natural brain chemistry to improve brain functioning. Brain health supplement products are available in the form of tablets, capsules, liquids, and powders. These supplements are mostly consumed by older adults, professional sportspersons, and working individuals to bolster their memory and brain functioning. They contain a range of ingredients for their formulation.
Technavio’s analysts forecast the global brain health supplements market to grow at a CAGR of 8.25% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global brain health supplements market for 2017-2021. To calculate the market size, the report considers the retail sales of brain health supplement.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global brain health supplements Market 2017-2021
Technavio recognizes the following companies as the key players in the global brain health supplements market: Amway, AlternaScript, Accelerated Intelligence and Onnit Labs.
Other Prominent Vendors in the market are: Puori, Liquid Health, Nutrex Hawaii, Piping Rock Health Products, New Zealand Health Food, Ocean Health.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is rapid growth of e-commerce. The growing popularity of e-commerce is making it easier for customers to browse and purchase from a wide range of products, including brain health supplements from several vendors through their online portals. This not only helps the customers to make their shopping experience easier, but also allows manufacturers to improve their brand visibility and brand retention.”
According to the report, one of the major drivers for this market is growing urban population. The global urban population is increasing rapidly. There has been a rise in the urban population both in developed and developing nations. The rise in the urban population has led to a change in lifestyles among people. The rising instances of urbanization has improved the living standards of people with increasing disposable incomes. However, with rising age, the instances of dementia and chronic diseases such as Alzheimer’s also increase.
Further, the report states that one of the major factors hindering the growth of this market is low penetration in developing regions. There is an increase in the popularity of brain health supplements in developed countries through awareness in terms of the usage benefits of these supplements. However, in developing and under-developed countries, such as Africa and the Middle East, the penetration of brain health nutrition is comparatively lower compared with developed countries such as Germany and the US. It is because of the low affordability and lesser awareness in these regions.
Amway, AlternaScript, Accelerated Intelligence, Onnit Labs, Puori, Liquid Health, Nutrex Hawaii, Piping Rock Health Products, New Zealand Health Food, Ocean Health.
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