As per the recent research report by Future Market Insights (FMI), a research and competitive intelligence provider, the nootropic supplement market size is estimated to reach USD 4,180 million by 2033, surging at 9.0% CAGR by 2033.
The growing popularity of consumers wanting robust brain health resulted in high demand in the nootropic supplement market. Increasing expenditure on memory supplements is another key factor driving market growth. Consumers across the globe are shifting their preferences towards supplements containing natural ingredients. This is creating lucrative growth opportunities for nootropic supplement manufacturers.
A nootropic supplement, or “smart drug,” is a compound that presents high attractiveness to consumers who prefer more lasting mental activity and focus. Nootropics are used to treat diseases such as Alzheimer’s since they offer numerous benefits for brain health and cognitive aptitude.
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Primarily, this supplement is sold to consumers through two formats. One is through over-the-counter, where an individual has access to a range of nootropic supplements that do not require any prescription from a doctor or a professional. Conversely, the prescribed format refers to the nootropic supplement that can be accessed only after getting approval from a doctor or health professional.
According to a recent market report, 60% of global consumers plan to improve their health and wellness over the next year. This is expected to bode well for supplement demand globally. It also notes that 79% of United States consumers say that taking a supplement is vital to their overall health, 67% of global nutritional supplement users plan to continue using supplement over the next year, and 49% of all supplement users say they’d be willing to spend more on supplement.
“In the longer run, changing consumer preferences towards natural and herbal ingredients along with a willingness to spend more on premium nootropic supplement is projected to provide profitable opportunities for participants,” – Nandini Roy Choudhury, Client Partner at Future Market Insights
Key Takeaways from the Nootropic Supplement Report:
- The North American nootropic supplement industry is estimated to be valued at US$ 477.4 million by 2023.
- In North America, the United States holds the leading share of 93.0% of the nootropic supplement ecosystems.
- Based on type, natural ingredient type is expected to hold a share of 64.3% in 2023
- In East Asia, China holds the leading share of 56.7% of the nootropic supplement industry.
- The nootropic supplement business is projected to be worth US$ 4,180 million by 2033.
Competitive Landscape:
The business offers a wide range of products that provide individual and nootropics stacks (combinations of different nootropics) targeting brain health. Several companies have been engaged in the nootropics supplement business. Several established players and several medium and small-sized players categorize the segment. Product launches are key growth initiatives businesses undertake to gain a competitive advantage in the sales. Product manufacturers are presenting new variations in the nootropic product category to appeal to a broader customer base.
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Key Companies Profiled:
- Onnit Labs
- Mental Mojo LLC
- NooCube
- Mind Lab Pro
- TruBrain
- Peak Nootropics
- Zhou Nutrition
- Kimera Koffee
- Neu Drink
- Accelerated Intelligence Inc
- AlternaScript LLC
- Cephalon Inc.
- SupNootropic Bio Co. Ltd.
- Teva Pharmaceutical Industries Ltd
- Nootrobox Inc.
For instance,
- Onnit is known for its Alpha Brain product, popular among athletes. Companies are investing in research and development to generate formulations targeting specific needs.
- In October 2021, Savvy Beverage plans to launch soft drinks and instant coffee comprising nootropic elements to improve brain health.
- In February 2021, Mind Cure Health Inc. announced the launch of its initial nootropic and Adaptogen products to promote care across the mental hygiene spectrum.
Nootropic Supplement Segmentation by Category:
By Ingredient Type:
- Natural
- Panax Ginseng
- Ginkgo Biloba
- Asiatic Pennywort
- Ashwagandha
- Bacopa Monnieri
- Guarana
- Eleuthero
- Rhodiola Rosea
- Schisandra Chinensis
- Others (Maca, etc.)
- Synthetic
- Racetams
- Modafinil
- Sunifiram
- Phosphatidylserine
- Choline
- DMAE
- Unifiram
- Hydrafinil
- Citicoline
- Others (Adranfinil, etc.)
By Product Category:
- Prescribed
- Over-the-Counter
By Form:
- Capsules/Tablets
- Powder
- Drinks
- Gummy
By Distribution Channel:
- Health Food Stores
- Pharmacies and Drugstores
- Professional Healthcare Practitioners
- Nutrition Stores
- Healthcare Professionals
- Online Retailers
Explore FMI’s related ongoing Coverage in the Food and Beverage Domain:
The global dietary supplement market size is expected to attain a valuation of around USD 170.1 billion by 2034. The market is anticipated to witness a steady CAGR of 9.5% in the assessment period 2024 to 2034. By the end of 2024, the market for dietary supplements is projected to reach a total valuation of USD 74.3 billion.
The global digestive health supplements market size is estimated to reach USD 17,160 million in 2023. With demand expanding at a 6% CAGR, the market size is projected to reach USD 29,648.6 million over the forecast period.
The multi nutritional supplement market was worth USD 310 Billion in 2020 and is expected to advance at a 5.9% CAGR from 2022 to 2032.
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