by Vinpocetine supplements are derived from lesser periwinkle plant extracts and help improve blood circulation in the brain which enhances cognitive performance.
The global vinpocetine supplements market is estimated to be valued at US$ 281.4 million in 2024 and is expected to exhibit a CAGR of 4.1% over the forecast period 2024 to 2031.
Key players operating in the vinpocetine supplements market are Noreva Biotech, Alchem International Pvt. Ltd., Covex S.A., iHerb, LLC., Kabir Lifesciences, Indiana Botanic Gardens, Inc., Dellwich Healthcare LLP, Healthquest Vitamins, SALVAVIDAS PHARMACEUTICAL PVT. LTD., Taj Pharmaceuticals Limited., Hangzhou Longshine Bio-Tech Co., Ltd., Merck KGaA, and Procurenet Limited.
Key players such as Noreva Biotech and Alchem International Pvt. Ltd. account for approximately 30% of the global vinpocetine supplements market share owing to their vast product portfolio and global distribution network. The growing geriatric population prone to cognitive disorders and increasing health-consciousness among consumers are some of the major factors driving the demand for vinpocetine supplements globally. Moreover, rising R&D investments by key players for new product launches catering to unmet needs are further propelling the global market expansion.
Some of the key trends witnessed in the Vinpocetine Supplements Market Size include enhanced focus towards developing vegetarian and vegan supplement formulas. This is mainly attributed to the shifting preferences of health-conscious consumers towards plant-based and sustainable products. Furthermore, combination formulas comprising vinpocetine with other cognitive boosters such as ginkgo biloba and omega-3 fatty acids are also gaining considerable traction.
Key Takeaways:
Key players operating in the vinpocetine supplements market are Noreva Biotech, Alchem International Pvt. Ltd., Covex S.A., iHerb, LLC., Kabir Lifesciences, Indiana Botanic Gardens, Inc., Dellwich Healthcare LLP, Healthquest Vitamins, SALVAVIDAS PHARMACEUTICAL PVT. LTD., Taj Pharmaceuticals Limited., Hangzhou Longshine Bio-Tech Co., Ltd., Merck KGaA, and Procurenet Limited.
– The growing geriatric population prone to cognitive disorders and increasing health-consciousness among consumers are some of the major factors driving the demand for vinpocetine supplements globally.
– Moreover, rising R&D investments by key players for new product launches catering to unmet needs are further propelling the global market expansion.
– Some of the key trends witnessed in the vinpocetine supplements market include enhanced focus towards developing vegetarian and vegan supplement formulas. Furthermore, combination formulas comprising vinpocetine with other cognitive boosters such as ginkgo biloba and omega-3 fatty acids are also gaining considerable traction.
Market Key Trends:
One of the prominent trends witnessed in the global vinpocetine supplements market includes the growing prominence of e-commerce channels. Easy availability, lucrative discounts, convenient payment options, fast delivery, and wider assortment are some of the factors boosting online sales of vinpocetine supplements. Various major players are focusing on strengthening their online presence through company-owned websites and popular e-commerce platforms such as Amazon and Flipkart. This is anticipated to positively impact the revenue generation of vinpocetine supplements market players over the forecast period.
Porter’s Analysis
Threat of new entrants: The entry barriers are moderate as manufacturing and distributing requires adequate infrastructure and capital. Existing key players have strong brand presence.
Bargaining power of buyers: Buyers have moderate bargaining power due to the presence of various substitutes and choice of brands. Buyers can opt for cheaper alternate supplements.
Bargaining power of suppliers: The suppliers of active ingredients and packaging materials have lower bargaining power as there are multiple suppliers in the market.
Threat of new substitutes: Alternate brain health supplements are available providing substitutes for vinpocetine supplements.
Competitive rivalry: The market is competitive with presence of many established players providing similar products. Players focus on expanding product portfolios and distribution channels to gain market share.
Geographical Regions
North America accounts for the largest share of the vinpocetine supplements market owing to higher awareness regarding brain health supplements and lucrative opportunities. Asia Pacific region is expected to witness fastest growth in demand due to rising geriatric population, growing health concerns and increasing disposable incomes in countries like China and India.
The Europe region currently holds second largest share of the market and rising adoption of brain health products is expected to drive modest growth. Latin America and Middle East & Africa markets provide new growth opportunities for players due to increasing expenditure on healthcare.
*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it
Money Singh
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. LinkedIn
