Increasing Demand for Brain Supplements Among Elderly Population Fuels Europe Brain Health Supplements Market
The UK, and many other countries are focused on the modernization of healthcare facilities and improvements in healthcare services. The subsequently rising life expectancy of people leads to the growth of the geriatric population in these countries. According to data published by the WHO in February 2018, the elderly population is estimated to rise from 12% in 2015 to 22% by 2050.Aging causes changes in brain size, cognition, and vasculature, and the changes happen at all levels, from molecular to morphological. The brain changes that may affect cognition and behavior occur due to molecular aging, tissue aging, intercellular and intracellular aging, and organ changes. The cases of stroke, dementia, and white matter lesions also rise with age, as does the level of memory impairment with alterations in neurotransmitter and hormone levels. Elderly people with an inadequate intake of micronutrients and antioxidants may be at a higher risk of alterations in brain functioning, and loss of mental and emotional abilities. With growing age being a major risk factor for dementia and cognitive impairment, cognitive fitness has become crucial in the last several years. Currently, there are no effective preventive strategies available for cognitive decline. Brain supplements are among the most common alternative and complementary medicines used by patients. Thus, the increasing demand for brain supplements among the elderly population bolsters the growth of the brain health supplements market.
Europe Brain Health Supplements Market Overview
The brain health supplements market in Europe is segmented into Germany, the UK, France, Italy, Spain, and the Rest of Europe. The region holds a significant share of the global market. The market is expected to witness significant growth during the forecast period due to rising consumer preference for plant-based products, increasing awareness of brain health, and the easy availability of various products in European markets.Europe Brain Health Supplements Market Revenue and Forecast to 2028 (US$ Million)
Europe Brain Health Supplements Market Segmentation
The Europe brain health supplements market is segmented into product, application, dosage form, distribution channel, age category, and country.Based on product, the Europe brain health supplements market is segmented into natural molecules, herbal extract, and vitamins and minerals. The natural molecules segment registered the largest Europe brain health supplements market share in 2022. The natural molecules is further subsegmented into acetyl-L-carnitine, docosahexaenoic Acid (DHA), alpha GPC, citicoline, huperzine-A, and others. The herbal extract is further subsegmented into bacopa monnieri, ginkgo biloba, ginseng, curcumin, lion's mane, and others. The vitamins and minerals is further subsegmented into vitamins C and E, vitamin B complex and others.
Based on application, the Europe brain health supplements market is segmented into memory enhancement, attention and focus, depression and mood, sleep and recovery, anti-aging and longevity, and others. The memory enhancement segment held the largest Europe brain health supplements market share in 2022.
Based on dosage form, the Europe brain health supplements market is segmented into capsules, tablets, and others. The others segment held the largest Europe brain health supplements market share in 2022.
Based on distribution channel, the Europe brain health supplements market is segmented into supermarket and hypermarket, drug store, online and others. The supermarket and hypermarket segment held the largest Europe brain health supplements market share in 2022.
Based on age category, the Europe brain health supplements market is segmented into adults, children, and elderly. The adults segment held the largest Europe brain health supplements market share in 2022.
Based on country, the Europe brain health supplements market has been categorized into Germany, the UK, France, Italy, Spain, and the Rest of Europe. Germany dominated the Europe brain health supplements market in 2022.
Intelligent Labs, Mind Lab Pro, Reckitt Benckiser Group Plc, and ReMind Brain Health Supplements are some of the leading companies operating in the brain health supplements market in the region.
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Executive Summary
At 11.3% CAGR, the Europe Brain Health Supplements Market is Speculated to be Worth US$ 3,434.14 million by 2028.According to this research,, the Europe brain health supplements market was valued at US$ 1,807.04 million in 2022 and is expected to reach US$ 3,434.14 million by 2028, registering a CAGR of 11.3% from 2022 to 2028. Growing prevalence of major depressive disorders and increasing demand for brain supplements among elderly population are the critical factors attributed to the Europe brain health supplements market expansion.
Leading companies in the brain health supplements market are focused on increasing their penetration across emerging markets by expanding their distribution networks and augmenting their manufacturing capabilities. This can be attributed to the availability of a large patient pool with the growing elderly population; high prevalence of depression, anxiety, mood swings, and other mental and cognitive disorders; increasing levels of disposable income; and improving infrastructure in the healthcare sector.
Moreover, with maturing markets in the European countries, most players focus prefer to expand their presence in emerging countries. Further, high investments by governments in these countries in life science and health research favor the upgrading of facilities with the latest technologies. This is also driving the brain health supplements market players toward developing regions.
On the contrary, lack of regulations and false claims by manufacturers hurdles the growth of Europe brain health supplements market.
Based on product, the Europe brain health supplements market is segmented into natural molecules, herbal extract, and vitamins and minerals. The natural molecules segment held 44.8% share of Europe brain health supplements market in 2022, amassing US$ 808.78 million. It is projected to garner US$ 1,509.50 million by 2028 to expand at 11.0% CAGR during 2022-2028. The natural molecules is further subsegmented into acetyl-L-carnitine, docosahexaenoic Acid (DHA), alpha GPC, citicoline, huperzine-A, and others. The herbal extract is further subsegmented into bacopa monnieri, ginkgo biloba, ginseng, curcumin, lion's mane, and others. The vitamins and minerals is further subsegmented into vitamins C and E, vitamin B complex and others.
Based on application, the Europe brain health supplements market is segmented into memory enhancement, attention and focus, depression and mood, sleep and recovery, anti-aging and longevity, and others. The memory enhancement segment held 32.1% share of Europe brain health supplements market in 2022, amassing US$ 580.25 million. It is projected to garner US$ 1,120.80 million by 2028 to expand at 11.6% CAGR during 2022-2028.
Based on dosage form, the Europe brain health supplements market is segmented into capsules, tablets, and others. The others segment held 47.2% share of Europe brain health supplements market in 2022, amassing US$ 852.33 million. It is projected to garner US$ 1,662.29 million by 2028 to expand at 11.8% CAGR during 2022-2028.
Based on distribution channel, the Europe brain health supplements market is segmented into supermarket and hypermarket, drug store, online and others. The supermarket and hypermarket segment held 40.5% share of Europe brain health supplements market in 2022, amassing US$ 731.78 million. It is projected to garner US$ 1,407.44 million by 2028 to expand at 11.5% CAGR during 2022-2028.
Based on age category, the Europe brain health supplements market is segmented into adults, children, and elderly. The adults segment held 50.4% share of Europe brain health supplements market in 2022, amassing US$ 910.16 million. It is projected to garner US$ 1,775.77 million by 2028 to expand at 11.8% CAGR during 2022-2028.
Based on country, the Europe brain health supplements market has been categorized into Germany, the UK, France, Italy, Spain, and the Rest of Europe. Our regional analysis states that Germany captured 27.9% share of Europe brain health supplements market in 2022. It was assessed at US$ 456.60 million in 2022 and is likely to hit US$ 969.34 million by 2028, exhibiting a CAGR of 11.5% during 2022-2028.
Key players operating in the Europe brain health supplements market are Intelligent Labs, Mind Lab Pro, Reckitt Benckiser Group Plc, and ReMind Brain Health Supplements, among others.
Companies Mentioned
- Intelligent Labs
- Mind Lab Pro
- Reckitt Benckiser Group Plc
- ReMind Brain Health Supplements
Table Information
Report Attribute | Details |
---|---|
No. of Pages | 145 |
Published | December 2023 |
Forecast Period | 2022 - 2028 |
Estimated Market Value in 2022 | 1.81 Billion |
Forecasted Market Value by 2028 | 3.43 Billion |
Compound Annual Growth Rate | 11.3% |
Regions Covered | Europe |
No. of Companies Mentioned | 4 |