Global Nootropic Market
Global nootropic market provides a detailed outlook on nootropics across the globe with special emphasize on key regions such as North America, Europe, Asia Pacific, Central and South America and Middle East and Africa. The report on global nootropic market gives historical, current and future market size (US$ Mn) on the basis of application, distribution channel, and geography. This study analyses the global nootropic market dynamics in a detailed manner to identify current trends and drivers, growth opportunities and potential challenges to the key stakeholders in the operating market. In addition, PBI has analyzed the global market to better equip customers with possible investment opportunities across region and consumer unmet needs. Key stakeholders of the global assisted reproductive technology include suppliers, manufacturers, marketers, policy makers, and service providers engaged in global assisted reproductive technology market.
Global Nootropic Market:
The global market size of nootropics was estimated at US$ 2.1 billion in 2019 and is projected to grow during the forecast period 2020-2026 at a CAGR of 12.5%. Growing prevalence of depression and mental exhaustion among youth has projected global nootropic products market growth. As well as rising depression populations and growing mental stress related issues are expected to drive the global Nootropic Products market over the forecast period as demand increases. However, high product prices, a strict regulatory framework and low product awareness could impede market growth over the forecast period.
Increasing awareness regarding the health benefits of nootropics increase the growth of market:
The global demand for the Nootropics Industry is driven primarily by increased understanding of the health benefits of the nootropic and increased consumer expenditure on healthcare and wellness products. Over the forecast era, the increasing trend of cognitive enhancement among healthy people is expected to increase product demand for academic achievement, professional advantage, athletic performance, personal growth, and to sustain brain activities during old age. In addition, the product’s ease of use and cost-effectiveness is expected to improve product sales. In addition, these drugs are used to treat a variety of cognitive and age-related conditions, such as Alzheimer’s disease, anxiety, and Parkinson’s illness.
North America held the leading market share in Global Nootropic Market:
North America held the leading market share in sales of about 37% in 2018. About half the U.S. adult population consumes vitamin supplements. The U.S. Food and Drug Administration has listed the substance as GRAS. By using creative packaging and goods the manufacturers target technical overachievers. From 2019 to 2025, Asia Pacific is projected to experience the highest CAGR of over 18 per cent. China dominates the region with a large share of income. Australia also has a substantial nootropics industry.
Key player’s profiles in the global nootropic market include-
- Accelerated Intelligence Inc.
- Nootrobox Inc.
- AlternaScript LLC
- Onnit Labs LLC
- Cephalon Inc.
- Clarity Nootropics
- United Pharmacies
- Powder City LLC
- Purelife Bioscience Co.
- Peak Nootropics
- In April 2019, Gaia Herbs, the leading herbal brand in North America, unveiled its new line of vegan nootropic supplements- Bacopa, Agile Mind, and Nootropic Focus.
- In April 2019, Reckitt Benckiser, global producer of popular consumer health, hygiene and home products, launched Neuriva, a dietary supplement and holistic approach to support brain health.
Key findings of report:
- Global nootropics market expanding at significant CAGR over 2020 to 2026 owing to increasing awareness of the nootropics health benefits and increased consumer spending on healthcare and wellness products.
- North America accounted for larger share of market revenue based on the region and projected a gain in market revenue over a forecast period.
- Players focusing on innovation of technologies and collaboration strategies to retain market position in global market.
Key features of the report:
- The report provides granular level information about market size, regional market share, historic market (2015-2019) and forecast (2020-2026).
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market.
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market.
- The report provides plethora of information about market entry strategies.
- Memory Enhancement
- Mood & Depression
- Attention & Focus
- Longevity & Anti-aging
- Sleep & Recovery
- Rest of Europe
- Australia & New Zealand
- Rest of APAC
- Rest of LATAM
- South Africa
- GCC Countries
- Rest of MEA