Global nootropics market expected to reach approximately USD 5,959 million by 2024, at a CAGR of around 15.7% between 2018 and 2024. The progression of the nootropics market is primarily due to the rising consumer expenditure on healthcare and wellness.
The report covers a forecast and an analysis of the nootropics market on a global and regional level. The study provides historic data for 2015, 2016, and 2017 along with a forecast from 2018 to 2024 based on revenue (USD Million). The study includes drivers and restraints of the nootropics market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities and threats to the nootropics market on a global level.
To understand the competitive landscape in the market, an analysis of Porter’s Five Forces model for the nootropics market has also been included. The study encompasses a market attractiveness analysis, wherein all the segments are benchmarked based on their market size, growth rate, and general attractiveness.
The study provides a decisive view of the nootropics market by segmenting the market based on application and region. All the segments have been analyzed based on present and future trends and the market is estimated from 2018 to 2024. Based on application, the nootropics market is segmented into memory enhancement, mood and depression, attention and focus, longevity and anti-aging, sleep, recovery and dream enhancement, and anxiety. The regional segmentation includes North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa with its further divided into major countries including the U.S., Germany, France, UK, China, Japan, India, and Brazil.
The report includes detailed profiles of the key players in the nootropics market globally, such as Accelerated Intelligence, Inc., Nootrobox, Inc., AlternaScript LLC, Onnit Labs LLC, Cephalon, Inc., Clarity Nootropics, Peak Nootropics, United Pharmacies, Powder City LLC, Purelife Bioscience Co., Ltd, and SupNootropic Biological Technology Co., Ltd., among others.
This report segments the global nootropics market into:
Global Nootropics Market: Application Analysis
Global Nootropics Market: Regional Analysis
Nootropics are also known as cognitive enhancers or smart drugs. These include supplements, drugs, and other related substances that can advance cognitive function, mainly executive functions, motivation, creativity, memory, or attention in healthy individuals. Nootropics can be synthetic or natural substances that are preferred widely to enhance an individual’s mental performance. Caffeine, L-Theanine, Creatine, Bacopa Monnieri, and Rhodiola Rosea are some of the popularly used nootropics.
Rising adoption of healthy lifestyles coupled with a growing preference for cognitive enhancers to boost one’s memory and enhance creativity is estimated to propel the growth of the nootropics market over the estimated period. Moreover, the increasing research and development activities carried out by major firms to produce cost-effective and unique nootropics products is also likely to fuel the demand for these products in the upcoming years. In depression and age-related diseases, nootropics are found to be more effective. High consumer spending on health and wellness in developed regions, such as North America and Europe, is likely to drive the growth of these regional nootropics markets in the future.
By application, the global nootropics market is classified into mood and depression, memory enhancement, attention and focus, anti-aging and longevity, sleep, recovery and dream enhancement, and anxiety. Among these, the memory enhancement segment held a major revenue share of the nootropics market in the year 2017 and is estimated to maintain its dominance over the projected timeframe as well. This can be attributed to these products’ efficiency in enhancing one’s learning abilities and memory. Busy lifestyles and increased competition in education and career are expected to enhance the growth of the depression relief and mood enhancement application segment in the upcoming years.
By region, the global nootropics market includes Europe, North America, the Middle East, and Africa, Latin America, and the Asia Pacific. North America contributed a considerable revenue share in 2017, owing to the rising number of consumers spending on health and wellness products. The Asia Pacific nootropics market is another important region that is likely to register a considerable rate of growth over the forecast span, due to the increasing penetration of nootropics organizations in China and India. The Latin American market for nootropics is expected to grow owing to growing consumer awareness about the benefits of nootropics.
Some key players of the global nootropics market report are Accelerated Intelligence, Inc., Nootrobox, Inc., AlternaScript LLC, Onnit Labs LLC, Cephalon, Inc., Clarity Nootropics, Peak Nootropics, United Pharmacies, Powder City LLC, Purelife Bioscience Co., Ltd, and SupNootropic Biological Technology Co., Ltd., among others.
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