Global Nootropics Market Size, Share & Growth, Market Research and Industry Forecast Report, 2025 (Includes Business Impact of COVID-19) -…

Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Nootropics market.

Trusted Business Insights presents an updated and Latest Study on Nootropics Market. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market.The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Nootropics market during the forecast period.It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.

Get Sample Copy of this Report @ Global Nootropics Market Size, Share & Growth, Market Research and Industry Forecast Report, 2025 (Includes Business Impact of COVID-19)

Industry Insights, Market Size, CAGR, High-Level Analysis: Global Nootropics Market

The global nootropics market size was valued at USD 2.17 billion in 2018 and is expected to expand at a CAGR of 12.5% during the forecast period. Rising demand for brain booster and smart drugs is anticipated to drive the growth. A large number of students and professionals consume these smart drugs to improve focus and memory. Continuous product development using both synthetic and natural raw materials is projected to further fuel the demand.Over the past few years, consumer preference has shifted toward natural nootropics such as caffeine, matcha tea, green tea, kucha tea, spinach, beets, peanuts, eggs, liver, brahmi, arctic root, turmeric, ginseng, pine bark, and fish oil. According to the American Council on Exercise (ACE), 50% American consumers prefer buying products with natural ingredients. The rise in vegan population in developed regions such as North America and Europe is expected to drive the demand for plant-based products. Nootropics manufacturers focus on natural ingredients to cater to the rising demand. For instance, in April 2019, Gaia Herbs launched new vegan supplements called Bacopa made using Bacopa; Nootropic Focus made with saffron, lemon balm, and spearmint; and Agile Mind made with Bacopa, gingko, and turmeric.

Rising demand for multi-utility drugs that work as antidepressant, energy booster, and anxiety resistant is expected to encourage R&D in the nootropics market. Increasing demand from sports industry owing to their ability to enhance brainpower is expected to create growth opportunities for the key players. In early 2018, HVMN launched HVMN Ketone, which improves physical and cognitive and performance. It also ensures endurance performance of professional sportspersons.Nootropics manufacturers also emphasize on the product packaging. Plastic, glass, and metals are used for producing pouches, bottles, and cans. Packaging and labeling play important role in the marketing of the product as students and young professionals are the target consumers of the market. Furthermore, continuous innovation such as gums, new flavors, and use of natural ingredients is expected to increase the consumer base of the market.Distribution Channel InsightsOffline distribution channel held the largest market share of more than 80% in 2018. Drug stores led the offline segment due to high consumer preference. On the other hand, the online distribution channel is expected to expand at the fastest CAGR of 14.2% from 2021 to 2026, due to increased preference by students. The hassle-free shopping experience offered by Amazon and other online channels is expected to drive the growth. Easy payment methods, which fit into regulatory standards of different countries, has made the operations easier. Major nootropic manufacturers emphasize on online distribution channel to reach more consumers.

Application Insights of Global Nootropics Market

Memory enhancement held the largest market share of over 30% in 2018. Increasing competition in academics has fueled the demand for nootropics among students. Preference for naturally derived nootropics over synthetic supplements is expected to create growth opportunities for the key players. Growing preference for smart drugs to cope with the stress of examinations is anticipated to further fuel the segment growth. A significant number of university students from Europe consumer these supplements for better academic performance. Memory enhancement supplements are also gaining significant importance among elderly population suffering from mild Alzheimers disease. The popular memory enhancement drugs include Adrafinil, Modafinil, Noopept, Phenylalanine, and Phosphatidylserine.

Over the past few years, smart drugs have gained significant demand as antidepressants. According to the World Health Organization (WHO), over 300 million people of all ages suffer from depression on global scale. In U.S., anxiety disorder is the most common mental illness. In 2018, around 40 million adult population in U.S. suffered from anxiety. Increasing awareness about mental illnesses is expected to widen the scope of application for nootropics in near future.Attention and focus application is expected to register the fastest CAGR of 13.4% from 2019 to 2015, due to the rising number of working population. Rapidly increasing participation in e-sports and gaming is also expected to boost the demand for nootropics. Smart drugs help the brain stay focused, which is the most important requirement for e-sports players. Koios, a Colorado-based nootropic beverage company, has been promoting its products in e-sport industry by using professional players for advertisement and by sponsoring popular e-sports teams such as Impulse.

Regional Insights of Global Nootropics Market

In 2018, North America held the leading market share of about 37% in terms of revenue. Around half of the adult population in U.S. consumes vitamin supplements. The U.S. Food and Drug Administration (FDA) has classified the product as Generally Regarded As Safe (GRAS). The manufacturers target professional overachievers by using innovative packaging and products. High consumer awareness about brain health along with the presence of a large number of manufacturers is expected to bode well for the regional growth.Asia Pacific is expected to witness the fastest CAGR of more than 18% from 2021 to 2026. China dominates this region with a significant revenue share. Australia also has a significantly large market for nootropics. Modafinil and Piracetam are the most popular products in this nation. The multinational companies are collaborating with local players from China and India producing herbal and natural drugs. Rapid growth of the education sector along with increasing awareness about brain health in the developing countries including China, India, and Bangladesh, is expected to fuel the regional demand for nootropics in near future.Nootropics Market Share InsightsMajor market players include Accelerated Intelligence Inc.; AlternaScript; HVMN; Onnit Labs, Inc.; Peak Nootropics; Teva Pharmaceutical Industries; Purelife bioscience Co., Ltd.; United Pharmacies; SupNootropic bio co., Ltd.; and Powder City. M&A and product innovation are the major marketing strategies adopted by the market players. In March 2016, HVMN, also known as Nootrobox, launched chewable coffee cubes called Go Cubes. These sugar-coated coffee cubes are more convenient and less expensive than regular cups of coffee. Go Cubes are available in three different flavors, namely, latte, pure drip, and mocha. Additionally, in November 2018, Nootrobox, invested USD 2 million to enhance clinical research and development of the product. The company has upgraded its popular products such as Rise, Kado, Yawn, and Sprint, packaged in attractive glass bottles.

Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Global Nootropics Market Research ReportThis report forecasts revenue growth at global, regional, and country levels, and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, this market research report has segmented the global nootropics market report based on application, distribution channel, and region:

Application Outlook (Revenue, USD Million, 2019 2030)

Memory Enhancement

Mood & Depression

Attention & Focus

Longevity & Anti-aging

Sleep & Recovery

Anxiety

Distribution Channel Outlook (Revenue, USD Million, 2019 2030)

Offline

Online

Looking for more? Check out our repository for all available reports on Nootropics in related sectors.

Quick Read Table of Contents of this Report @ Global Nootropics Market Size, Share & Growth, Market Research and Industry Forecast Report, 2025 (Includes Business Impact of COVID-19)

Trusted Business InsightsShelly ArnoldMedia & Marketing ExecutiveEmail Me For Any ClarificationsConnect on LinkedInClick to follow Trusted Business Insights LinkedIn for Market Data and Updates.US: +1 646 568 9797UK: +44 330 808 0580

Read more:

Global Nootropics Market Size, Share & Growth, Market Research and Industry Forecast Report, 2025 (Includes Business Impact of COVID-19) -...

Related Post

Comments are closed.