The global nootropics market size is expected to grow from $3.36 billion in 2021 to $3.95 billion in 2022 at a compound annual growth rate (CAGR) of 17.5%. The global nootropic market size is expected to grow to $6.61 billion in 2026 at a CAGR of 13.7%.
What is the Global Nootropics Market?
The nootropics market consists of sales of nootropic solutions and services by entities (organizations, sole traders, and partnerships) that help to boost brain performance. Nootropics refer to memory-enhancing substances which having a stimulation effect. The nootropics include caffeine, creatine, vitamins, and minerals, which are used to increase memory, strength, or other cognitive functions. They may have some effects on memory, thinking, or other mental functions but do not treat the diseases.
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What drives the Global Nootropics Market?
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, according to Global Wellness Institute, a US-based non-profit organization, the global mental wellness market was valued at $122 billion in 2019 and grew by 7.2%, reaching $131 billion in 2020. Therefore, the increasing expenditure on healthcare and wellness drives the nootropics market.
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Global Nootropics Market Segments
The global nootropics market is segmented:
By Drug Type: Prescription Nootropics, OTC Nootropics
By Form: Capsules or Tablets, Powder, Drinks, Others
By Distribution Channel: Offline, Online
By Application: Memory Enhancement, Mood and Depression, Attention and Focus, Longevity and Anti-Aging, Sleep and Recovery, Anxiety
By Geography: The regions covered in the nootropics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Nootropics Global Market Report 2022provides market size and growth forecasts for the global nootropics market, global nootropics market share, nootropics market segments and geographies, nootropics market competitive landscape including leading competitors’ revenues, profiles and market shares. The nootropics market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Nootropics Industry Playersinclude Accelerated Intelligence Inc., AlternaScript, HVMN, Mental Mojo LLC, Peak Nootropics, PureLife Bioscience Co. Ltd., Blue Brain Boost, NooCube, Mind Lab Pro, TruBrain, Neu Drinks, Superior Supplement Manufacturing, Equinox Nutraceuticals, and Natural Stacks. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
