North America memory supplements market is anticipated to grow at higher CAGR due to growing aging population and increasing number of herbal pills, dietary supplements, and medical foods in the region.

Introduction of the North America Memory Supplements Market Report

Memory supplements, referred to as nootropics, are natural supplements designed to improve brain functionality and individual health. Memory supplements can help improve memory, motivation, productivity, and overall cognitive function. Memory supplements may also help promote long-term brain health by protecting against age-related decline.

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Market Dynamic

Key Drivers and Emerging Trends

The factors driving the North America memory supplements market include the growing aging population in the region. According to the U.S. Administration of community living, in 2019, the population of age above 65 was 54.1 million i.e., 16% of the population and expected to reach 21.6% by 2040. The increasing number of cases of dementia will further boost the market. According to CDC, in 2020, 5.8 million Americans were living with Alzheimer’s disease. This is anticipated to nearly triple to 14 million people by 2060. An increasing number of herbal pills, dietary supplements, and medical foods are enabled as memory enhancers or therapies to delay or prevent Alzheimer’s disease or other dementias. For instance, according to The Alzheimer Organization, studies have shown that specific vitamins such as Vitamin B3, B6, B12 & Folic Acid, Vitamin E, Turmeric Curcumin, and others can reduce the risk of memory loss and cognitive decline.

Restraint in the North America Memory Supplements Market

However, there is lack of evidence on effectiveness of memory supplement on cognitive health. This factor can act as a market restraint.

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Product – Segment Analysis

Based on the product, natural molecules are expected to grow at a higher CAGR during the forecast period owing to increasing demand for natural products compared to artificial supplements. Natural molecules are made up of concentrated, dehydrated whole foods that help enhance the clarity of thinking, memory, and alertness. Thus, the manufacturer is developing innovative products which include natural molecules such as ginkgo bilbo extract derived from the leaves of the ginkgo bilbo tree, which is often touted as a memory aid. For instance, in 2021, Memore launched whole food supplements that offer a convenient and versatile way to improve cognitive performance. Each Memore pouch contains 30 servings of brain-boosting nutrients derived from 11 whole foods and three plant-based protein sources.

Distribution Channels – Segment Analysis

Based on the distribution channels, offline is projected to grow at higher CAGR during the forecast period because consumers prefer to purchase health products from supermarkets or hypermarkets, and pharmacy stores. The wide availability of the product from various brands attract consumer to purchase products through offline channels. For instance, Reckitt Benckiser Group PLC offers Neuriva original brain performance supplement at Walmart Stores.

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Key Developments:

• • In 2021, Church & Dwight Co. Inc.  launched brain food gummy supplement which features a formula containing the adaptogen ashwagandha, vitamin B6 and B12 and phosphatidylserine, formulated together to provide nutrients necessary to support healthy brain function.
  • In 2019, Reckitt Benckiser Group PLC launched Neuriva brain health supplement based on a patented coffee bean extract.

Segments covered in the Report:

The North America memory supplements market has been segmented on the basis of Product, Distribution Channels, and Supplement Form. Based on Product, the market is segmented into herbal extract, natural molecules, and vitamins & minerals. Based on Distribution Channels, the market is segmented into Online, Offline, and Online.

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Key questions answered in this research report:

• • At what pace is North America memory supplements market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in North America memory supplements market? What will be the impact of drivers and restraints in the future?
  • Which product generated maximum revenues in 2020 and identify the most promising product during the forecast period?
  • What are the various distribution channels of North America memory supplements market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2020
Market Forecast Period	2021-2028
Market Revenues (2020)	USD Million
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Product, By Distribution Channels
Regional Coverage	United States and Canada
Companies Profiled	Profiles of Top 10 Major Companies Operating in “North America Memory Supplements Market”
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

North America Memory Supplements Market by Product

• • Herbal Extract
  • Natural Molecules
  • Others

North America Memory Supplements Market by Distribution Channels

• • Online
  • Offline

North America Memory Supplements Market by Countries

• • US Memory Supplements Market All-Up
  • Canada Memory Supplements Market All-Up