The Analyst’s Take: Top 3 takeaways from NBJ’s 2023 Condition Specific Report

Brain health momentum. The continued diversification of generational interest in brain health has driven growth in recent years and led to an accelerated growth rate in projections through 2026. Growth in the condition, which covers memory, cognition, focus, creativity and more, reached 7.2% last year and the CAGR through 2026 is expected to be 8.1%. This uptick in growth over historical years is driven by innovations appealing to younger consumers—from neurohackers to gamers to employees looking to beat brain fog. We can’t ignore the impact of one of the most talked-about categories as well: Mushrooms are a key factor in viral nootropic formulas paving the way for these strong forecasts.

Increased attention on women. The growth outlook increases through the forecast period for both women’s general health and menopause supplements. While the CAGR for 2022-2026 for women’s general health is just 2.2% compared to the menopause projected CAGR of 5.3%, exponential growth is expected for both. Industry excitement around the categories is palpable. Strong investment in innovation across women’s health categories is on the horizon as women escalate to leadership roles in the supplement market. We have been excited to see innovations in menopause sub-categories like perimenopause, as well as the destigmatizing of other women’s health concerns like PMS, fertility and vaginal health.

Surprising dip in mood. Mood and mental health, dubbed one of the COVID-adjacent conditions, had record growth of 29.4% in 2020 and still-strong growth of 10.8% in 2021. The normalization hit hard last year with a decline of 1.5%, more harsh than expected. One of the biggest contributing factors is the huge drop of 22.7% seen in hemp CBD. Growth remained relatively strong in combination herbal formulas however, and the outlook is bright through 2026 given the strong demand for mental health support in younger generations.