The Business Research Company’s report on the Nootropics Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
How are market drivers shaping the future growth trajectory of the nootropics industry?
The increasing expenditure on health and wellness is expected to propel the growth of the nootropics market going forward. Health and wellness are generally defined as a method that an individual respects to reach mental health and physical wellbeing. Mental and physical health involves diving deep into the health and wellness industry. Nootropics are useful in maintaining an individual’s health and wellness, as a result, if the demand for healthcare and wellness is increasing, so will the need for nootropics. For instance, in May 2024, according to the Office for National Statistics, a UK-based government department, healthcare expenditure increased by 5.6% in nominal terms from 2022 to 2023, a notable rise compared to the 0.9% growth recorded in 2022. Therefore, the increasing expenditure on healthcare and wellness drives the nootropics market.
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What is the estimated market size of the nootropics sector by 2029, based on current forecasts?
The nootropics market size has grown rapidly in recent years. It will grow from $5.23 billion in 2024 to $6.01 billion in 2025 at a compound annual growth rate (CAGR) of 14.8%. The growth in the historic period can be attributed to aging population, regulatory support, increased research and development, e-commerce expansion, rise in esports.
The nootropics market size is expected to see rapid growth in the next few years. It will grow to $11.46 billion in 2029 at a compound annual growth rate (CAGR) of 17.5%. The growth in the forecast period can be attributed to increasing stress and cognitive demands, globalization, rising disposable incomes, rising mental health awareness, expansion of emerging markets. Major trends in the forecast period include natural and plant-based nootropics, digital nootropics, transcranial stimulation devices, sustainable and ethical sourcing, inndustry collaboration.
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Who are the top players in the nootropics market?
Major companies operating in the nootropics market include Accelerated Intelligence Inc., AlternaScript Inc. Health Via Modern Nutrition Inc., Mental Mojo LLC., Peak Nootropics, PureLife Bioscience Co. Ltd., TruBrain, PepsiCo, Superior Supplement Manufacturing, Equinox Nutraceuticals, Natural Stacks Inc., Gaia Herbs Farms., Kimera Koffee LLC., Onnit Labs LLC ., Reckitt Benckiser Group plc., OUTLIERS INC., Teva Pharmaceutical Industries Ltd., United Pharmacies o, Clarity Nootropics, OptiMind, HVMN Inc., BioAdaptives Inc., Powder City
What are the major trends in the nootropics market?
The adoption of vegan nootropics is gaining popularity in the global nootropics market. Major companies operating in the nootropics market are going to new organic product innovations to meet consumer demand and sustain their position in the market. For instance, in July 2022, BioAdaptives Inc., a US-based manufacturer of natural plant and algae-based supplements, launched MindMemory, which is an advanced nootropic intended to enhance memory, mental focus, and concentration. The new product has a gradual and smooth effect and unlike coffee, it does not produce sudden rush of adrenaline.
Which geography holds the highest nootropics market share?
North America was the largest region in the nootropics market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the nootropics market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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How do different segments contribute to the overall expansion of the nootropics market?
The nootropics market covered in this report is segmented –
1) By Drug Type: Prescription Nootropics, OTC Nootropics
2) By Form: Capsules or Tablets, Powder, Drinks, Other Forms
3) By Distribution Channel: Offline, Online
4) By Application: Memory Enhancement, Mood and Depression, Attention and Focus, Longevity and Anti-aging, Sleep and Recovery, Anxiety
Subsegments:
1) By Prescription Nootropics: Stimulants, Cognitive Enhancers, Other Prescription Nootropics
2) By Over-the-Counter (OTC) Nootropics: Natural Nootropics, Synthetic Nootropics, Nootropic Blends
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How is the nootropics market defined?
Nootropics refer to memory-enhancing substances that have a stimulation effect. The nootropics help boost brain performance. The nootropics include caffeine, creatine, vitamins, and minerals, which are used to increase memory, strength, or other cognitive functions. They may affect memory, thinking, or other mental functions, but they do not treat the diseases.
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