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The nootropics market size is forecast to increase by USD 2.70 billion and is estimated to grow at a CAGR of 11.64% between 2023 and 2028. The market is experiencing significant growth due to several key factors. With the rising urban population and increasing demand for productivity enhancement, there is a growing interest in smart drugs and brain boosters. Additionally, the increasing awareness of cognitive health and the cost-effectiveness and easy accessibility of nootropic products have made them a popular choice for individuals seeking to improve their cognitive performance. Nootropics are a class of substances that enhance various aspects of cognitive function, including memory, focus, and motivation. These benefits have made them a valuable tool for students, professionals, and individuals seeking to optimize their brain health. The market for nootropics is expected to continue growing as more people discover their potential cognitive-enhancing effects.
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The market is witnessing significant growth due to increasing consumer spending on cognitive enhancers. These substances, also known as smart drugs, are used to improve memory, attention, and cognitive abilities. Parents, students, and professionals are the primary consumers of nootropics, seeking to enhance their mental performance and focus. Some popular nootropics include Alpha Brain, Caffeine, Creatine, Modafinil, Adderall, and Methylphenidate. Racetams, such as Piracetam, Pramiracetam, Phenylpiracetam, and Aniracetam, are another category of nootropics that are gaining popularity. L-theanine and Omega-3 fatty acids are natural nootropics that are also widely used. Nootropics are used to treat various neurological conditions, including Alzheimer's disease, Parkinson's disease, Huntington's disease, Schizophrenia, and Narcolepsy. Memantine is a popular nootropic used to treat Alzheimer’s disease, while Racetams are used to improve cognitive function in individuals with neurological disorders. The market for nootropics is expected to grow at a steady pace due to the increasing awareness of cognitive health and the growing demand for products that can improve mental performance. The market is highly competitive, with key players including companies like Onnit Labs, Kaged Muscle, and Bulletproof. However, the market is also facing regulatory challenges due to the potential side effects and long-term health risks associated with some nootropics. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The rising urban population is notably driving market growth. The global urban population is experiencing significant growth, with over 50% of the world's population residing in urban areas as of today. This trend is prevalent in both developed and developing nations. The enhanced living standards and disposable income in urban areas have led to increased consumer spending on various products and services, including health and wellness.
Moreover, the rise in urbanization, however, brings about an increased risk of age-related health issues such as Alzheimer's disease, Parkinson's disease, Huntington's disease, Schizophrenia, and others. To combat these conditions and enhance cognitive abilities, consumers are turning to nootropics, also known as smart drugs. These substances, available in various forms like capsules, powder, and drinks, aim to improve memory, attention, and cognitive abilities. Thus, such factors are driving the growth of the market during the forecast period.
Growing demand in online retail is the key trend in the market. The market has witnessed significant growth due to increasing consumer spending on cognitive enhancement supplements. Parents, in particular, are investing in nootropics to improve their children's memory, attention, and cognitive abilities.
Moreover, Alpha Brain, Smart Drugs, and various other nootropic supplements are gaining popularity as effective solutions for enhancing brain function. Manufacturers are capitalizing on the growing demand for nootropics by distributing their products through various channels, including capsules, powder, and drinks. Soylent Nutrition, a meal-replacement company, is one such example. Thus, such trends will shape the growth of the market during the forecast period.
Low penetration in developing regions is the major challenge that affects the growth of the market. Nootropics, also known as "smart drugs," have gained significant attention in developed countries for their potential to enhance memory, attention, and cognitive abilities. Consumers are spending on these supplements to improve brain health and performance. Brands like Alpha Brain lead the market with their capsules and powder forms.
However, the penetration of nootropics in developing and under-developed countries is comparatively lower due to affordability and awareness issues. Manufacturers in these regions offer low-priced nootropic supplements, often of lower quality. In contrast, developed countries, such as the US and Germany, have a higher adoption rate. Conditions like Alzheimer's disease, Parkinson's disease, Huntington's disease, Schizophrenia, and Narcolepsy have increased the demand for these supplements. Hence, the above factors will impede the growth of the market during the forecast period
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Mental Mojo LLC: The company offers nootropics that includes Mental Mojo 30-Serving Think Tank, Mental Mojo Think Tanker 90 Servings, and Mental Mojo Nootropic Energy Shot.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The capsules segment is estimated to witness significant growth during the forecast period. The capsules or tablets market segment is anticipated to grow significantly during the forecast period. Tablets or capsules are the most common form of medication and are inexpensive, safe, and effective ways to deliver oral medications. They are made by compressing one or more powdered ingredients to form a hard, solid, smooth-coated pill that breaks down in the digestive tract.
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The capsules segment was the largest segment and valued at USD 1.33 billion in 2018. Most nootropics are available in capsules or tablet form. Capsules are more accessible and convenient to carry and consume than any other form of nootropics. Also, it becomes easy for medical professionals such as doctors to prescribe the drug in capsule/tablet form. Moreover, most people prefer to consume it in capsules/tablet form. Such factors are expected to boost the sale of nootropics in capsules or tablets form, which will drive the growth of the global market during the forecast period.
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North America is estimated to contribute 47% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Nootropics, also known as smart drugs, are a class of supplements that are purported to enhance brain function, including cognitive ability, short-term memory, reasoning, and exercise performance. These substances are increasingly popular for their potential benefits in managing stress and improving brain health, particularly in relation to brain aging and neuroprotective effects. However, it is essential to be aware of potential side effects and interactions with medications. Large, controlled studies are necessary to fully understand the safety and efficacy of nootropics. Hence, such factors are driving the market in North America during the forecast period.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion " for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
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Nootropics, also known as "smart drugs," are substances that enhance cognitive functions such as memory, attention, and cognitive abilities. The market is witnessing significant growth due to increasing consumer spending on brain health supplements. Parents, in particular, are showing a keen interest in these supplements to improve their children's academic performance. Alpha Brain, Smart Drugs, and various other brands dominate the market, offering their products in different forms like capsules, powder, and drinks. Soylent Nutrition, a meal-replacement company, also entered the market with its nootropics-infused drinks. Nootropics are used to treat various neurological disorders like Alzheimer's disease, Parkinson's disease, Huntington's disease, Schizophrenia, and Narcolepsy. Caffeine, Creatine, Modafinil, Adderall, Methylphenidate, Memantine, L-theanine, Omega-3 fatty acids, Racetams (Piracetam, Pramiracetam, Phenylpiracetam, Aniracetam), Ginkgo biloba, Panax ginseng, and Rhodiola are some popular nootropics. Healthcare providers, including doctors, are increasingly recommending nootropics for their patients.
Moreover, regular exercise and a healthy diet are also essential for optimal brain health, but nootropics can provide an additional boost. Some nootropics, like Racetams and Omega-3s, have shown promising results in improving memory and attention in healthy individuals. Caffeine and Creatine are the most commonly used nootropics, while prescription drugs like Modafinil, Adderall, and Methylphenidate are used to treat specific conditions. Memantine and L-theanine are gaining popularity due to their calming effects and memory enhancement properties. In conclusion, the market is expected to grow significantly due to increasing consumer awareness and interest in brain health supplements. The market offers various forms and types of nootropics, catering to different consumer needs and preferences. Regular exercise, a healthy diet, and nootropics can work together to improve cognitive functions and overall brain health.
Market Scope |
|
Report Coverage |
Details |
Page number |
131 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 11.64% |
Market growth 2024-2028 |
USD 2.70 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
10.12 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 47% |
Key countries |
US, China, UK, Germany, and Japan |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Accelerated Intelligence Inc., Applied Food Sciences Inc., Careforsons LTD., Gaia Herbs Inc., Gridiron Nutrition, Health Via Modern Nutrition Inc., Kraken Koffee LLC, Mental Mojo LLC, NEU Energy, Nutraceutical Corp., Onnit Labs Inc., Opti-Nutra Ltd., Peak Nootropics, Performance Lab Ltd., PowderCity.com Ltd., Purelife bioscience Co Ltd., Reckitt Benckiser Group Plc, Roar Ambition Ltd, truBrain Inc., and Wolfson Holdco Ltd. |
Market dynamics |
Parent market analysis, market report , market forecast , Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Formulation
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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