With rising awareness around public healthcare issues such as anxiety and depression, the cognitive health category has seen steady growth for several years now, with awareness over holistic health being a recent catalyst. This report by Fraser Grice explores state of market, recent developments, ingredients for innovation, and where the big buckets of opportunity lie.
In 2020, the global cognitive health market was estimated to be worth US$7.21 billion (Grandview Research) and experienced a CAGR of 12.2% (Nutrition Business Journal). In the years to come, growth is forecast to hit 8% from 2021 until 2028, with the United States holding the largest share at over 35% in 2020, in which—as noted by the Global Counsel on Brain Health—75% of adults use dietary supplements.
Additionally, the Asia Pacific region was highlighted by ?? as the fastest-growing market, with an expected expansion of 10.6% CAGR from 2021-2028, largely attributed to an increased awareness around mental health, availability of products via e-commerce, and the rising purchasing power of Asian countries like China and India.
In terms of market share, fish oil supplements comprised 30%, while the remainder is an amalgamation of various products, with more specialty ingredients such as adaptogens, MCTs, mushrooms and apoaequorin noted as gaining significant interest among consumers, according to research in Nutrition Business Journal: Condition Specific Report. Omega-3 fatty acids including alpha-linolenic acid (ALA), eicosapentaenoic acid (EPA) and docosahexaenoic acid (DHA) appear to be popular due to increasing awareness of benefits relating to prevention of cognitive health conditions, such as age-delated decline.
In addition to its growth as an individual market, the category has permeated almost every other main health category, including healthy ageing, sports nutrition, digestive health, immune health, personalised nutrition, and women’s health. Although seemingly simple, market entry is not without its challenges and brands can often get caught up in the many different regulatory and developmental avenues, making entry strategy ever more important.
