Global Nootropics Market 2023-2030

Global Nootropics Market 2023-2030

Global Nootropics Market Size, Share & Trends Analysis Report by Form (Capsules/ Tablets, Powder, and Drinks), and by Distribution Channel (Online and Offline) Forecast Period (2023-2030)

The global nootropics market is anticipated to grow at a CAGR of 14.1% during the forecast period (2023-2030). The increasing demand for brain boosters and smart drugs is a key factor driving the growth of the global nootropics market. 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 anticipated to fuel the product demand. For instance, in October 2020, Australia-based nootropic start-up Neuratech launched 2 brain health supplements for focus and stress, named Boost and Calm. Boost is a focus and energy nootropic, while Calm is a stress and sleep nootropic. Furthermore, the demand for organic nootropics such as coffee and supplements with natural ingredients such as Brahmi, arctic root, turmeric, ginseng, and pine bark witnessed a surge as consumers are seeking natural nootropics products.

Gym cultures is increasingly becoming popular as gym membership have increased with a higher late in last 10 years. Therefore, performance nutrition foods such as nootropics are gaining popularity among millennial are known to be more involved in fitness activates. Increase in the number of research and development activities regarding nootropics is expected to offer lucrative opportunities to the market growth. However, high cost associated with drug development and distribution may restrain the market growth. The side effects linked with administration of nootropics may also restrain the market growth during the forecast period.

Segmental Outlook

The global nootropics market is segmented on the form and distribution channel. Based on the form, the market is sub-segmented into capsules/tablets, powder, and drinks. On the basis of distribution channel, the market is sub-segmented into online and offline. Among the distribution channels, the offline sub-segment is expected to hold a prominent share of the global market, owing to the growing penetration of independent retail companies such as Walmart Tesco, and others. The retail giants further bolster the product visibility and attract a larger consumer base.

Drinks Sub-Segment is Anticipated to hold a Prominent Growth in the Global Nootropics Market

Among the form segment, the drinks sub-segment is expected to hold a prominent growth in the market across the globe. The primary factor supporting the segmental growth includes the rising development and introduction of nootropics or smart drugs in the form of either capsule or tablet. For instance, in January 2020, Sun Chaser, a beverage brand start-up launched pre-orders of their beverages on its official website. The beverage is a carbonated alcohol alternative which does not contain caffeine and booze. Sun Chaser leverages L-theanine and cordyceps for an alcohol alternative. Through this launch, the brand aims to tap into the broad market of functional nootropic ingredients.

Regional Outlook

The global nootropics market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia), and the Rest of the World (the Middle East & Africa, and Latin America. Among these, North America is anticipated to hold a prominent share of the market across the globe, owing to the presence of key market players. The rising focus on health along with the rising awareness regarding nootropics is further driving the product demand in this region.

The overall supplements market in North America is growing exponentially, and the use of supplements to enhance the productivity of the brain has helped pave the way for nootropics. Retailers, both online and brick-and-mortar stores, are thereby creating prominent shelf lines for nootropics supplements to cater to the needs of consumers, ranging from teenagers to older adults.

Global Nootropics Market Growth, by Region 2023-2030

Source: OMR Analysis

The Asia-Pacific Region is Expected to Grow at a Significant CAGR in the Global Nootropics Market

Among all regions, the Asia-Pacific region is anticipated to grow at a considerable CAGR over the forecast period. Increasing awareness towards personal health in growing economies such as India & China is one of the key factors driving the growth of the global nootropics market. Chronic diseases such as heart disease, cancer, diabetes, stroke, and arthritis have been on the rise, in recent times. As per the International Diabetes Federation (IDF), around 250 million adults in the age range of 20-79 years were living with diabetes in the region in 2019. These numbers are further expected to rise over a certain period owing to the changing eating habits and more inclination towards unhealthy food diets. The rise in the prevalence of chronic diseases prompts the need for nootropics, which drives the regional growth of the market.

Market Players Outlook

The major companies serving the nootropics market include Pfizer Inc., GlaxoSmithKline plc, Novartis AG, Mylan N.V., and Teva Pharmaceutical Industries Ltd. among others. The market players are considerably contributing to the market growth by the adoption of various strategies including funding for R&D, and new product development, mergers & acquisition, and distribution network expansion among others to remain competitive in the market place. For instance, in October 2022, Shine Drink, Australia’s first energy nootropic drink developed with natural nootropics has launched into Woolworths stores nationwide. Additionally, in July 2021, Snack bars was hoping to raise $ 2,48,132 to progress its mission to get true functional nutrition into the hands of the mass market.

The Report Covers

Market value data analysis of 2022 and forecast to 2030.

Annualized market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions.

Key companies operating in the global nootropics market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

Analysis of market-entry and market expansion strategies.

Competitive strategies by identifying ‘who-stands-where’ in the market.