Nootropics Market

Nootropics Market size was estimated at USD 10.2 billion in 2021, and forecast to touch USD 30.1 billion in 2029, growing at a significant higher CAGR of 14.5% over the forecast period (2022-2029) attributed to increasing demand for mind boosting drugs around the world.

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Key Nootropics Market Drivers

Major factors driving the nootropics market are increasing consumption of smart drugs by students and professional to enhance memory and focus, rise in consumers expenditure on health and wellness products and growing awareness regarding the benefits of nootropics among consumers across the globe. Moreover, increasing demand for brain boosting supplements, bars and drinks and rising prevalence of Alzheimer’s disease and narcolepsy and easy availability of nootropic products at online stores an offline retail outlet, are further pushing the market growth. For instance, over 6 million Americans are living with Alzheimer’s, this figure is expected to reach 13 million by the end of 2050. Increasing prevalence of prevalence of Alzheimer’s, will generate consumers interest towards nootropics products in future, which will positively impact the market growth.

Increasing consumer preference towards natural nootropics such as matcha tea, caffeine, spinach, peanuts, eggs, turmeric, ginseng, pine bark, and fish oil which is expected to generate tremendous opportunities in the market. Increasing use of nootropics for academic success, personal improvement and rise in the launch of innovative products, are some of the additional factors supplementing the growth of nootropics market. Furthermore, Nootropics supplements are gaining popularity in the sports and nutrition industry. Many athletes are increasingly using nootropics supplements as it helps in improving their performance, increase energy and stamina boost catecholamine activities in brain which plays a major role in stimulating their moods. As per recent estimates, the global sports nutrition and supplements market was valued around USD 44.43 billion in 2021 and this figure is expected to increase by USD 41.27 billion by 2030. Growing sports nutrition industry indicates, that consumers are likely to spend more on these types of products, which will create lucrative growth opportunities for nootropics manufacturing companies to expand their business. However, lack of proper treatment and side effects such as headache, fatigue, and insomnia due to the overconsumption of nootropics might hamper the market growth.

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Application: Segmentation Analysis

Memory enhancement application is driven by growing popularity of smart drugs amongst students attributed to increasing competition in academics. In addition, increasing consumption of memory enhancement supplements such as Modafinil, Noopept, Adrafinil, Phenylalanine and Phosphatidylserine by young population suffering from mild Alzheimer’s disease, which is boosting the segment’s growth. Attention & Focus application is propelled by rise in the working population and rising participation of people in gaming & esports across the globe.

Based on the distribution channel, Offline segment is forecast to hold the largest market.

Consumers in many countries widely prefer to go to retail outlets such as Walmart, Tesco, and Costco for purchasing or explore new nootropics products. Additionally, online stores offer wide range of nootropic products at attractive discounts, provides multiple payment options such as debit card, credit card and net banking, and are open 24*7, are some of the factors propelling the segment’s growth.

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Based on the region, North American region is forecast to dominate the market attributed to rise in consumers spending on wellness products.

North American nootropics market is propelled by increasing consciousness regarding the preventive and cognitive health among consumers, growing demand for sports nutrition supplements and rise in the number of patients suffering from mental illness. Moreover, North America is home to some of the leading nootropics companies such as Onnit Labs, Inc., Purelife Bioscience Co., Ltd., and Accelerated Intelligence, Inc.

Asia-Pacific nootropics market is driven by rapid growth in the education sector, growing demand for multivitamin supplements across China, India, and Bangladesh, rising prevalence of Alzheimer’s disease, rapid urbanization, increasing per capita incomes and high population growth rates, are some of the important factors augmenting the market growth in Asia-Pacific region.

Nootropics Companies

Various notable players operating in the nootropics market are Cephalon, Inc., Accelerated Intelligence, Inc., Purelife Bioscience Co., Ltd., AlternaScript LLC., Teva Pharmaceutical Industries, Onnit Labs, Inc., HVMN Inc., Gaia Herbs, LLC, United Pharmacies, Powder City LLC, SupNootropic Biological Technology Co., Ltd., among others. Key players are focusing on natural ingredients of nootropics to cater to the growing demand for the nootropics across the globe.

Key Developments:

• • In May 2022, Teva Pharmaceutical Industries, announced its plans to expand its manufacturing facility in Bulgaria, to facilitate the commercial production and testing of treatments to cater the current demand levels.
  • In February 2022, Vaga.org announced that it has merged with Vagaright.com, to provide improved experience of consumers who are researching for nootropics and their reviews online. This merger will provide consumers more insightful content and information on health and wellness related topics.
  • In April 2021, Unilever, a leading personal care company based out of United States unveiled its plans to acquire acquire Onnit Labs, manufacturer of brain health, fitness, and wellness supplements. Onnit has a following of 1 million visitors to its digital platform per month.
  • In February 2021, Givaudan Launches Nootropics, Swiss multinational manufacturer of flavour and cosmetic ingredients introduced nootropics which will include collection of 6 natural and traceable extracts such as guarana green tea and ginger.
  • In 2019, Gaia Herbs, LLC, a major herbal supplement brand introduced vegan nootropic supplements which are designed to support the brain health of consumers. This new product line will be distributed through natural and independently owned health food stores worldwide.
  • In 2018, HVMN Inc. introduced HVMN Ketone. This product is deigned to improves physical performance and, cognitive capabilities of consumers.

Segments covered in the Report:

The global nootropics market has been segmented on the basis of application, distribution channel and key regions. Based on application, the market is segmented into memory enhancement, mood & depression, attention & focus, longevity & anti-aging, sleep & recovery and anxiety. Based on distribution channel, the market is segmented into offline and online.

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Market Segmentation:

Global Nootropics Market by Application

• • Memory Enhancement
  • Mood & Depression
  • Attention & Focus
  • Longevity & Anti-aging
  • Sleep & Recovery
  • Anxiety

Global Nootropics Market by Distribution Channel

• • Offline
  • Online

Global Nootropics Market by Region

• • North America Nootropics Market (Option 1: As a part of the free 25% customization)
    • By Application
    • By Distribution Channel
    • US Market All-Up
    • Canada Market All-Up
  • Europe Nootropics Market (Option 2: As a part of the free 25% customization)
    • By Application
    • By Distribution Channel
    • UK Market All-Up
    • Germany Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Nootropics Market (Option 3: As a part of the free 25% customization)
    • By Application
    • By Distribution Channel
    • China Market All-Up
    • Australia Market All-Up
    • India Market All-Up
    • Rest of APAC Market All-Up
  • ROW Nootropics Market (Option 4: As a part of the free 25% customization)
    • By Application
    • By Distribution Channel
    • Brazil Market All-Up
    • South Africa Market All-Up
    • GCC countries Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Leading market players (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Accelerated Intelligence Inc.
  • HVMN Inc.
  • Cephalon, Inc.
  • Purelife Bioscience Co., Ltd.
  • AlternaScript LLC
  • Teva Pharmaceutical Industries
  • Onnit Labs, Inc.
  • Gaia Herbs, LLC
  • United Pharmacies
  • Powder City LLC
  • SupNootropic Biological Technology Co., Ltd