Cognitive Supplements Global Market Report 2024

The cognitive supplements market size has grown rapidly in recent years. It will grow from $0.43 billion in 2023 to $0.48 billion in 2024 at a compound annual growth rate (CAGR) of 13.4%. The growth witnessed during the historic period can be attributed to several factors including heightened awareness of cognitive health benefits, the increasing prevalence of aging populations, greater adoption of nootropics and smart drugs, growing consumer interest in enhancing cognitive function, and rising levels of stress prompting individuals to seek cognitive support.

The cognitive supplements market size is expected to see rapid growth in the next few years. It will grow to $0.81 billion in 2028 at a compound annual growth rate (CAGR) of 13.6%. The projected growth in the forecast period is fueled by several factors, including the increasing prevalence of neurological disorders, the expansion of e-commerce platforms facilitating easier access to products, growing consumer emphasis on mental wellness, rising disposable income levels allowing for increased spending on cognitive health products, and the widening retail networks and pharmacy availability of such supplements. Key trends anticipated in the forecast period include the emergence of new technologies impacting cognitive health, the growing popularity of nootropic supplements for cognitive enhancement, a shift towards the adoption of natural and herbal ingredients for their perceived benefits, the rise of subscription-based models for convenient access to supplements, and an increased focus on sustainable sourcing practices reflecting consumer preferences for environmentally friendly products.

The expansion of the aging population is anticipated to drive the growth of the cognitive supplement market. The term 'aging population' denotes a demographic shift characterized by a notable increase in the proportion or absolute number of elderly individuals within a population. This demographic shift is influenced by several factors, including declining birth rates, advancements in healthcare and medical technologies leading to longer life spans, and demographic transitions towards older age brackets. Cognitive supplements play a crucial role in meeting the needs of an aging population by enhancing cognitive performance, memory, and overall brain health. For example, projections from the Population Reference Bureau in January 2024 suggest that the number of Americans aged 65 and older is set to rise from 58 million in 2022 to 82 million in 2050. Consequently, the growing aging population serves as a key driver propelling the expansion of the cognitive supplement market.

Prominent companies in the cognitive supplements market are offering tailored cognitive health solutions, including subscription-based models, to cater to individual preferences and requirements. These models ensure convenient access to supplements while simultaneously boosting customer satisfaction and fostering loyalty. A subscription-based model entails consumers signing up for a recurring delivery service to receive their cognitive supplements regularly, typically on a monthly or quarterly basis. For instance, Estrid, a Sweden-based health and wellness company, launched April in May 2022, a wellness brand blending current science with traditional herbal medicines to provide a line of vegan, subscription-based supplements. The brand's goal is to simplify and enhance everyday wellness routines, collaborating with UK industry leaders, doctors, dietitians, and herbalists to craft products, select ingredients, and make sustainability commitments. The subscription model offers three supplements such as Multi-Me for cognitive function and energy, Glow Service for collagen production, and Club Calm for psychological support.

In February 2023, Thorne HealthTech Inc., a US-based wellness company, acquired PreCon Health Inc. to bolster its brain health portfolio and gain access to a renowned scientific advisory board. PreCon Health Inc. specializes in developing cognitive supplements aimed at supporting healthy brain function, aligning with Thorne HealthTech's strategic focus on advancing cognitive health solutions for an aging population.

Major companies operating in the cognitive supplements market are Amway Corporation, Lonza Group AG, Glanbia PLC, Herbalife Nutrition Ltd., Swanson Health Products, NOW Health Group Inc., Thorne Healthtech Inc., Life Extension, Jarrow Formulas Inc., MegaFood, Natural Factors Inc., Integrative Therapeutics, Gaia Herbs, Solgar Inc, Nordic Naturals, Liquid Health Inc., Doctor's Best Inc, Onnit Labs Inc., Nature's Bounty Co., Carlson Labs, HVMN Inc., Vital Nutrients Inc., Douglas Laboratories, Source Naturals, Garden of Life.

North America was the largest region in the cognitive supplements market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cognitive supplements market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the cognitive supplements market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Cognitive supplements, also known as nootropics or brain health supplements, are formulations designed to improve cognitive function, memory, focus, and overall brain health. Typically consisting of a blend of vitamins, minerals, herbs, amino acids, and other natural or synthetic ingredients, they aim to enhance mental performance and well-being.

The primary product types of cognitive supplements include natural molecules, herbal extracts, vitamins, and minerals. Natural molecules are compounds sourced from plants and animals, chosen for their beneficial effects on brain function and overall health. These supplements are available in chewable and capsule forms and are distributed through various channels including supermarkets, medical stores, online retail stores, and others.

The cognitive supplements market research report is one of a series of new reports that provides cognitive supplements market statistics, including cognitive supplements industry global market size, regional shares, competitors with a cognitive supplements market share, detailed cognitive supplements market segments, market trends and opportunities, and any further data you may need to thrive in the cognitive supplements industry. This cognitive supplements market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The cognitive supplements market consists of sales of memory enhancers, choline supplements, and nootropic pills. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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