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 rising consumer interest in maintaining robust brain health has significantly boosted demand in the nootropic supplement market. Growing investment in memory-enhancing supplements is also a major driver of market expansion. Additionally, there is a global shift towards supplements with natural ingredients, creating attractive growth opportunities for nootropic supplement manufacturers.
A nootropic supplement, often referred to as a “smart drug,” is a compound highly appealing to consumers seeking sustained mental clarity and focus. Nootropics are also utilized in treating conditions like Alzheimer’s, offering significant benefits for brain health and cognitive function.
Nootropic supplements are primarily available to consumers in two formats. The first is over-the-counter, allowing individuals to purchase a variety of nootropic supplements without needing a prescription. The second format requires a prescription, where nootropic supplements are available only with approval from a doctor or healthcare professional.
A recent market report indicates that 60% of global consumers plan to enhance their health and wellness over the coming year, which is expected to positively impact supplement demand worldwide. Additionally, the report highlights that 79% of U.S. consumers view supplement use as essential to their overall health, 67% of global nutritional supplement users intend to continue their use over the next year, and 49% of all supplement users are willing to invest more in supplements.
The rising cost of healthcare is a key factor driving the development of the nootropic supplement market by improving infrastructure. Increased efforts by both private and public organizations to raise awareness are expected to boost market growth. As individuals become more conscious of cognitive well-being and seek to enhance mental performance, demand for nootropic supplements is increasing.
The trend towards self-improvement and health optimization, including cognitive performance, positions nootropic supplements as a key tool for achieving these goals. Growing research and development in the field further support market expansion.
Increased consumer interest in better brain health and rising investments in memory supplements are contributing to the global popularity of nootropic pills. Additionally, the shift towards natural ingredients in supplements presents significant growth opportunities for nootropic manufacturers.
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.
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.
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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
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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