Cognitive supplements are used to improve memory, mood, attention, creativity, and motivation in a healthy individual. Increasing awareness among scientists, college students, entrepreneurs, and investment bankers to boost and optimize memory has resulted in increased demand for these supplements. Additionally, owing to the presence of rich micronutrients such as omega-3 oils and selenium, the cognitive supplements also facilitate low blood sugar levels and promotes overall health of an individual.
The global market for cognitive supplements was valued at US$ 248 million in 2018 and is expected to grow at a CAGR of 11.5% during the forecast period. The rising number of aging population across Asian countries is anticipated to bolster market growth in Asia Pacific during forecast period. Additionally, in developing regions a huge market prospect is expected to provide lucrative market expansion opportunities during the forecast period. North America and Europe are anticipated to be the major revenue contributors to the global cognitive supplement market.
However, Asia Pacific is anticipated to outpace North America and Europe, to become the dominating geography by 2030 with rapidly increasing population and increasing per capita income.
Major players operating in the global cognitive supplement market include AlternaScript, LLC, Liquid Health, Inc., Accelerated Intelligence Inc., Natural Factors Nutritional Products Ltd., HVMN Inc., KeyView Labs, Inc., Aurobindo Pharma Limited, Quincy Bioscience, Onnit Labs, LLC and Purelife Bioscience Co., Ltd.
The report titled “Cognitive Supplement Market - Global Market Share, Trends, Analysis and Forecasts, 2023 - 2032”, wherein 2021 is historic period, 2022 is the base year, and 2023 to 2032 is forecast period. Additionally, the study takes into consideration the competitive landscape, wherein the report would provide company overview and market outlook for leading players in the global cognitive supplements market. Furthermore, the report would reflect on the key developments, global & regional sales network, business strategies, security & exchange overview, research & development activities, production facilities, product portfolio, employee strength, and key executive, for all the players considered under the scope of study.
For instance, Aurobindo Pharma Limited reported revenues of US$ 2748.53 Million in 2018 and the segment and geographic analysis of the company indicates that Formulation business segment is the dominating segment of the company, with the United States being the major revenue generating geography.
The global cognitive supplement market is segmented based on product type, application, sales channel, age group and geography. Based on product type, the global cognitive supplement market is segmented into herbal extracts, vitamins & minerals, and natural molecules. The herbal extract product segment is further sub-segmented into ginseng, ginkgo biloba, curcumin, lions mane, bacopa monnieri, and others. The vitamins & minerals product segment is further sub-segment into vitamin b, vitamin c, vitamin e, and others. Similarly, the natural mocecules are further sub-segmented into Acetyl-L-Carnitine, Alpha GPC, Citicoline, Docosahexaenoic Acid {DHA}, Huperzine A, and others. Based on application, the global cognitive supplement market is segmented into mood & depression, memory enhancement, longevity & anti-aging, attention & focus, sleep recovery, and anxiety. Based on sales channel, the global cognitive supplements market is segmented into supermarkets, drug stores, online stores and others. Based on age group, the global cognitive supplements market can be sub-segmented into children, adults and elderly. Based on geography, the global cognitive supplement market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
Additionally, the study provides in-depth analysis of individual company considered under the scope of study with a focus on all operating business segment, and would identify the segment of the company focusing on cognitive supplements products. Further, market share of company in the global cognitive supplements market would also be calculated. For instance, Aurobindo Pharma Limited operates through two business segments namely Formulations and API.
Moreover, Formulations business unit of the company deals with cognitive supplement products, with a revenue contribution of US$ 2269.94 Million. The report study takes into consideration the key competitive information such as business strategy, product portfolio, key development, SWOT analysis, and research and development focus of all the cognitive supplements companies.
Furthermore, the global cognitive supplements market study would take into consideration the participants engaged throughout the supply chain and value chain of the market, along with their contribution. Product portfolio would focus on all the products under the cognitive supplements business segment of the company.
Similarly, the recent development section would focus on the latest developments of company such as strategic alliances and partnerships, merger and acquisition, new product launched and geographic expansion in the global Cognitive supplements market arena.
For instance, in 2018, Aurobindo entered into an agreement with Shandong Luoxin Pharmaceutical Group Stock Co to establish a joint venture company in China to manufacture nebulizer inhaler and other products for China, the US and European markets. The key players in the global cognitive supplements market are focused on developing effective and cost-efficient cognitive supplements in order to gain competitive edge in the global market.
Market Segmentation:
By product type
By application
By sales channel
By age group
By Geography
The rising number of aging population across Asian countries is anticipated to bolster market growth in Asia Pacific during forecast period.
Increasing awareness among scientists, college students, entrepreneurs, and investment bankers to boost and optimize memory has resulted in increased demand for these supplement is driving the cognitive supplement market growth.
The global cognitive supplement market is segmented based on product type, application, sales channel, age group and geography.
AlternaScript, LLC, Liquid Health, Inc., Accelerated Intelligence Inc., Natural Factors Nutritional Products Ltd., HVMN Inc., KeyView Labs, Inc., Aurobindo Pharma Limited, Quincy Bioscience, Onnit Labs, LLC and Purelife Bioscience Co., Ltd. among others, are the prominent players in this market.
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