Nootropics Brain Supplements Market to Grow with a CAGR of 7.14% through 2028
Rising aging population and cognitive
decline and increased research and development are factors driving the Global Nootropics
Brain Supplements Market in the forecast period 2024-2028
According to TechSci Research report, “Nootropics
Brain Supplements Market – Global Industry Size, Share,
Trends, Competition Forecast & Opportunities, 2028”, the Global Nootropics
Brain Supplements Market stood at USD 8.31 billion in 2022 and is anticipated
to grow with a CAGR of 7.14% in the forecast period, 2024-2028. The global
nootropics brain supplements market has experienced a remarkable surge in
recent years, driven by an increasing focus on cognitive enhancement and mental
well-being. Nootropics, often referred to as "smart drugs" or
cognitive enhancers, are a category of supplements and drugs designed to boost
cognitive functions like memory, concentration, creativity, and motivation.
This market has shown consistent growth, with several key factors acting as
drivers for its expansion. One of the most
significant drivers of the global nootropics market is the growing awareness of
cognitive health. As lifestyles become more demanding, individuals of all age
groups are looking for ways to enhance their mental performance and maintain
cognitive well-being. This awareness has led to a surge in demand for
nootropics as people seek solutions to improve their memory, focus, and overall
cognitive function.
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Brain Supplements Market”
The modern world is characterized by
hectic work schedules, increased job stress, and an unrelenting pursuit of success.
As a result, people are seeking cognitive enhancers to help them cope with
these pressures. Nootropics are being embraced as tools to boost productivity,
reduce stress, and help individuals stay competitive in their professional
lives. The aging population is a global phenomenon, with a growing number of
individuals concerned about age-related cognitive decline. Nootropics have
gained popularity among older adults looking to maintain mental acuity and
prevent or slow cognitive decline associated with conditions like Alzheimer's
disease and dementia. This demographic is contributing significantly to the
growth of the market.
The internet and digital technology have
made information more accessible than ever before, allowing consumers to
research and educate themselves on topics like nootropics. This ease of access
has resulted in a more informed consumer base, with a better understanding of
nootropic products and their potential benefits. Consequently, this has led to
an increase in the adoption of these supplements. Pharmaceutical companies and
nutraceutical manufacturers are investing more in research and development,
leading to the creation of new and improved nootropic products. These
advancements are appealing to consumers who are looking for effective and safe
cognitive enhancers, further propelling the growth of the market.
The Global Nootropics Brain Supplements Market is
segmented into type of nootropics, form, ingredient type, application, sales
channel and company
Based on application, the Memory Enhancement segment has
emerged as the predominant market leader.
The
memory enhancement segment of the global nootropics brain supplements market is
currently dominating the industry, driven by the aging population, increasing
stress levels, and the desire for improved cognitive performance in academia
and the workplace. With a range of established companies and startups catering
to this niche, the market is set to expand further. As the industry grows,
responsible usage and ethical considerations will play a crucial role in
shaping its future. Memory-enhancing nootropics have the potential to
significantly impact the way individuals address cognitive decline, stress, and
the pursuit of peak mental performance.
Based on region, North America segment is expected to
grow during the forecast period. North America has stringent
regulatory bodies, such as the Food and Drug Administration (FDA) in the United
States and Health Canada, which oversee the safety and quality of dietary
supplements, including nootropics. This regulatory oversight provides consumers
with a sense of security, knowing that products on the market meet established
safety standards. The presence of these regulatory agencies also helps maintain
consumer trust and encourages market growth. The geographical size of North America and its
advanced logistics infrastructure make it easier for nootropic companies to
distribute their products efficiently. With well-established online and offline
retail networks, manufacturers can readily make their products available to
consumers. This accessibility has contributed significantly to the market's
growth, allowing consumers easy access to a wide range of nootropic options.
The Asia Pacific region is experiencing rapid market
growth. Asia Pacific benefits from a supportive ecosystem for startups and
emerging companies. Entrepreneurs in the nootropics industry can access
capital, resources, and mentorship to help them develop and scale their
businesses. This environment of innovation and entrepreneurship further propels
the growth of the nootropics market.
Major companies operating in Global Nootropics
Brain Supplements Market are:
- Onnit Labs, LLC
- Hudson Aquatic Systems LLC
- HVMN Inc.
- Peak Nootropics
- Nootropics Depot
- Pure Nootropics
- Mind Nutrition Ltd.
- Natural Stacks LLC
- Nootrobox (now HVMN Inc.)
- Mind Lab Pro
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“The global nootropics brain supplements market is
experiencing robust growth, with numerous market drivers propelling its
expansion. From a heightened focus on cognitive health and the need to cope
with stress to advancements in research and development, these factors are
shaping the market's trajectory. As technology continues to advance and
consumers seek ways to optimize their mental performance, the nootropics market
is likely to remain a prominent player in the health and wellness industry for
years to come.,” said Mr. Karan Chechi, Research Director with TechSci Research,
a research-based management consulting firm.
“Nootropics Brain Supplements Market By Type
of Nootropics (Natural Nootropics, Synthetic Nootropics, Hybrid Nootropics), By
Form (Capsules/Tablets, Powders, Liquids), By Ingredient Type (Racetams, Choline Sources, Herbal Extracts, Amino
Acids, Others), By Application (Memory Enhancement, Focus and Concentration,
Mood Enhancement, Energy and Alertness, Sleep Improvement, Brain Health and
Longevity), By Sales Channel (Online Retailers, Drugstores and Pharmacies,
Others), By Region, By Competition Forecast &
Opportunities, 2018-2028F”, has evaluated the future growth potential of Global
Nootropics Brain Supplements Market and provides statistics & information
on market size, structure and future market growth. The report intends to
provide cutting-edge market intelligence and help decision makers take sound
investment decisions. Besides, the report also identifies and analyzes the
emerging trends along with essential drivers, challenges, and opportunities in
Global Nootropics Brain Supplements Market.
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