Nootropics Market
Nootropics Market Trend, Opportunity, and Forecast Analysis, 2024-2032
Nootropics Market is segmented by Form, Distribution Channel, and by Region. KDMI analyst foresees market revenue to cross USD 9.8 Billion by 2032 by growing with a CAGR of 15.3% during 2024-2032.
Nootropics Market Highlights
The global nootropics market is expected to cross a value of USD 9.8 billion by the end of 2032. The market was valued at USD 4.2 billion in 2023 and is expected to expand at a CAGR of 15.3% between 2024-2032.
- Over the mid-term, the rising desire for cognitive enhancement is the primary factor anticipated to drive the global nootropics market.
- The lack of regulation and oversight is a major factor to challenge the market growth.
- The North America nootropics market is projected to dominate the global market.
Nootropics Market: Report Scope |
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Base Year |
2023 |
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Base Year Market Size |
USD 4.2 Billion |
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Forecast Year |
2024-2032 |
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Forecast Year Market Size |
USD 9.8 Billion |
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CAGR Value |
15.3% |
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Nootropics Market Key Trends/Major Growth Drivers |
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Restraint Factors |
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Nootropics Market Segmentation |
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Nootropics Market Key Players |
Onnit Labs, Inc., Reckitt Benckiser Group PLC, Mental Mojo, LLC, NooCube, Mind Lab Pro (Performance Lab Group Ltd), TruBrain, Neu Mind, LLC, Nooflux LLC, Zhou Nutrition, Kimera Koffee, and others. |
Nootropics Market Outlook
Nootropics are substances that purportedly improve cognitive function, memory, creativity, motivation, and overall brain performance. Also known as smart drugs or cognitive enhancers, these naturally or synthetically produced drugs encompass a wide range of compounds, including vitamins, minerals, herbal extracts, amino acids, peptides, and synthetic substances.
According to our researchers at KD Market Insights, the rising desire for cognitive enhancement, supported by the increase in awareness for mental health issues, is expected to drive the growth of the global nootropics market. According to the statistics by the World Health Organization (WHO), 970 million people around the globe were known to live with a mental disorder in the year 2019. As people seek ways to improve memory, focus, and productivity, the acceptance of nootropics as a viable solution has risen, which is expected to drive the demand for nootropics, and in turn, contribute to the market growth. Onnit Labs, Inc., Reckitt Benckiser Group PLC, and Mental Mojo, LLC are some of the significant parties in the global market for nootropics.
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Nootropics Market Drivers – Analyst’s Observation
According to the analysts at KD Market Insights, some key growth drivers for the global nootropics market are:
- Growing Ageing Population Worldwide: The ageing population around the globe is increasing rapidly and so is the need for preventing age-related cognitive decline. The World Health Organization (WHO) predicts that the population aged 60 years and older around the globe would double to reach 2.1 billion by the end of 2050. It also stated that about 14% of these adult population lived with a mental disorder. The maintenance of cognitive health amongst the geriatric population is very important and nootropics are perceived as potential aids in preserving the cognitive function. These drugs are also known to prevent neurodegenerative diseases, such as Alzheimer’s, which is also expected to contribute to the demand for nootropics.
- Ongoing Technological Advancements in Neuroscience: Supported by the increasing expenditure on research and development, the ongoing advancements in neuroscience, pharmacology, and biochemistry have led to the development of new and improved formulations of nootropics. Research studies exploring the effects of various compounds on cognitive function, brain health, and neuroplasticity helps in providing scientific validation and driving innovation for nootropics, which is expected to drive the market growth in the coming years.
Which Probable Factors Could Hamper the Growing Nootropics Market Trend?
As per our KD Market Insights analysis, some of the challenges expected to limit the global market growth of nootropics are:
- Lack of Regulation and Oversight: One of the primary challenges in the nootropics market is the lack of regulation and oversight by health authorities. Unlike pharmaceutical drugs, many nootropics are sold as vitamins and dietary supplements, allowing them to bypass stringent regulatory requirements. This lack of regulation raises concerns about product safety, quality, and efficacy, hindering consumer trust and market growth.
- Growing Concern for the Side Effects Associated with Nootropics: Certain nootropic ingredients, especially synthetic compounds and high-dose formulations, may pose health risks and adverse side effects. These may include cardiovascular effects, gastrointestinal issues, insomnia, anxiety, and dependency, which is expected to limit the market growth in the coming years.
How is the Global Nootropics Market Segmented?
Our experts at KD Market Insights have segmented the global nootropics market as:
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By Form |
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By Distribution Channel |
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By Region |
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What are the Probable Factors Influencing the North America Nootropics Market Forecast?
The North America nootropics market is majorly driven by the rise in awareness and acceptance of mental health issues and the growing interest for cognitive enhancements solutions, soliciting the importance of brain health. Moreover, the region has been witnessing an increase in prevalence of mental health issues, stress-related disorders, and age-related cognitive decline, which is also expected to contribute to the demand for solutions to enhance cognitive function and mental well-being. According to the statistics by the National Alliance on Mental Illness, 22.8% of the adults in the United States experienced mental illness in 2021, representing 1 in 5 adults.
As per our analysts at KD Market Insights, the following five players lead the North America nootropics market growth:
- Neurohacker Collective
- Onnit Labs
- Natural Stacks
- Nootropics Depot
- Health Via Modern Nutrition Inc. (HVMN)
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Key Countries to Watch for in North America Nootropics Market |
Key Insights |
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United States Nootropics Market to Register the Largest Regional Market Share in 2032 |
USD 2.7 Billion |
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Canada Nootropics Market to Grow with the Highest CAGR During 2024-2032 |
15.5% |
Which Key Players Top the Global Nootropics Market Share?
As per our analysts at KD Market Insights, the competitive landscape of global nootropics market facilitates our readers in identifying their closest competitors. The manufacturers who are associated with nootropics market are raising their focus on expanding their presence, as well as their market share. The market has also been witnessing an upward movement in the number of collaborations between research institutions and key players, aimed at introducing advanced technologies and innovation of new products. Here is a list of the key players who top the global nootropics market share:
- Onnit Labs, Inc.
- Reckitt Benckiser Group PLC
- Mental Mojo, LLC
- NooCube
- Mind Lab Pro (Performance Lab Group Ltd)
- TruBrain
- Neu Mind, LLC
- Nooflux LLC
- Zhou Nutrition
- Kimera Koffee
What are the Recent Developments Observed in the Nootropics Market?
Over the years, the experts at KD Market Insights have been observing the recent developments associated with global nootropics market trends. Our expert’s market forecast analysis has recorded the market players adopting plentiful of key strategies including new product launches, mergers & acquisitions, and collaborations.
For instance, Reckitt’s cognitive health supplement brand, Neuriva, stated that it has partnered with chef and food enthusiast Alton Brown for promoting a holistic approach to brain health.
Further, Nu: tropic shared that it has launched nootropic-based snack bars that are made of Norwegian black oats.
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- Publication date: 6th April 2024
- Base year: 2022
- Forecast year: 2023-2033
- Format: PDF, PPT,Word,Excel
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