Nootropic Ingredients Market Size (2023 – 2030)

The Global Nootropic Ingredients Market was valued at USD 13.51 billion and is projected to reach a market size of USD 36.61 billion by the end of 2030. Over the forecast period of 2024-2030, the market is projected to grow at a CAGR of 15.3%.

Smart drugs are another name for nootropics. It can also be found in some medicinal plants, such as American Ginseng, or it can be created in a lab. Enhanced memory or concentration are two examples of nootropics' unique benefits. Your cognitive faculties may be enhanced, preserved, and safeguarded with the use of these drugs. The nootropic notion was appealing to many people who wanted to have greater and longer-lasting mental activity as well as pharma businesses eager to offer such alluring items because cognition is the brain's main activity in humans. Numerous drugs can be used as nootropics, which aid in memory improvement. Numerous benefits are offered by nootropics in terms of cognitive function and brain health. Nootropics are used to treat cognitive symptoms of schizophrenia, Parkinson's disease, Huntington's disease, Alzheimer's disease, and Parkinson's disease. As a result, there is a growing market demand for nootropics.

Key Market Insights:

A brand-new company called NO. 8 INC. has introduced nootropic gummies. There are four types of these gummies: energy, sleep, focus, and quiet. Gluten-free and vegan, gummies are both.

A new product made by the Australian business AusVitality combines adaptogens with nootropics. The burnout and weariness experienced by the human body are specifically addressed by this supplement. According to the manufacturer, this substance enhances mental vigor, clarity, and attention.

Gaia Herbs introduced BACOP, a cutting-edge range of vegan nootropic supplements that support brain performance.

Liveli announced the release of a complete nootropic supplement solution that targets sleep, attention, and cognition and contains 70 vitamins, botanicals, and nutritional precursors.

Global Nootropic Ingredients Market Drivers:

Growing Market Awareness Will Be Driven by Mental Health:

One of the most widespread disorders in society is mental illness. The World Health Organisation (WHO) estimates that 3.8% of the world's population, including 5% of adults, suffers from depression, making it a widespread illness. However, there was a global decline in the prominence of mental health knowledge and attention. Additionally, COVID-19 caused a rise in mental instability and sadness among the populace throughout the lockdown period, which caused them to turn their attention to their own mental health and well-being. As a result, the clients decided to switch to a balanced diet with supplements to improve their stability & and mental health. However, growing public knowledge of mental health issues and treatments has made nootropic pills more popular on the international market.

Alzheimer's Disease Is Likely to Rise, Driving Market Growth:

The industry is being driven by the increasing prevalence of Alzheimer's disease since nootropic products are used to reduce mild Alzheimer's symptoms. Worldwide, it is estimated that 44 million individuals have Alzheimer's disease or a similar form of dementia. There are over 5.5 million persons with the condition in the US alone. Geriatrics make up 5.3 million of those. Additionally, at the age of 65, the risk of the illness increases every five years. The sixth most common cause of mortality in the US is Alzheimer's disease. Since 2000, there has been an 89% increase in disease-related mortality. After diagnosis, the typical life expectancy is thought to be between 4 and 8 years.

Global Nootropic Ingredients Market Challenges:

The adverse effects of nootropic products are predicted to restrain market expansion:

Demand is difficult to meet because of the main side effects of long- or short-term usage of nootropic products. For instance, consuming more than 400 mg of caffeine per day might result in seizures, headaches, diarrhea, sleeplessness, and other symptoms. Furthermore, pregnant women who consume too much caffeine run the danger of miscarrying. Without a prescription, Adderall usage can result in reduced sex desire, nervousness, and excessive perspiration. If the drug and alcohol are combined, the user may potentially have cardiac arrest. Additionally, prolonged usage of some nootropic products might result in addiction, which creates additional issues for the user.

Global Nootropic Ingredients Market Opportunities:

Increased ADHD Cases Are Likely to Increase Product Demand:

The demand for nootropic products is rising as the number of instances of ADHD rises. According to estimates, 2.2% of children and adolescents under the age of 18 are thought to have ADHD globally. In addition, it was calculated that 2.8% of people between the ages of 18 and 44 had the disorder. The US had the greatest frequency of children ADHD, at 8.1%, while Iraq had the lowest, at 0.1%, according to the World Health Organisation (WHO). Aside from the US, other industrialized nations have seen significant prevalences of ADHD, with rates of 6.0% and 7.3%, respectively.

NOOTROPIC INGREDIENTS MARKET REPORT COVERAGE:

Global Nootropic Ingredients Market Segmentation: By Form

• Capsules/Tablets

• Powder

• Drinks

With a sales share of almost 45.1%, the sector of capsules and tablets previously held the highest position. Since the product producers are selling them in various forms, the demand for capsules and tablets has increased. This trend is anticipated to continue during the projection period.

Drinks are likely to see the fastest CAGR of 16.3%. RTD beverages and shots now include nootropics to aid with cognitive enhancements like memory and attention. Drinkable nootropics are becoming more and more popular since they digest more rapidly than meals and provide an immediate mental boost.

The second-largest revenue share was held by the powder category. Reckitt Benckiser Group PLC and other well-known companies intend to enter the nootropics business. For instance, it debuted Neuriva - Neurofactor and Sharp PS in May 2019. Unlike other green coffee caffeine powders, Neurofactor is a pure coffee fruit extract that promotes the overall capacity to raise brain-derived neurotrophic factors. The market is anticipated to be driven by these product offerings.

Global Nootropic Ingredients Market Segmentation: By Application Analysis

• Memory Enhancement

• Mood & Depression

• Attention & Focus

• Anti-aging & longevity

• Sleep

The market for nootropics is dominated by the memory enhancement category by 42%. Memory enhancers help people learn and remember information better. The rise in demand for these supplements is due to a variety of factors.

Emerging economies are driving demand for supplements that improve memory. As was already said, there has been a huge rise in disposable incomes in countries like China, India, and Brazil. As more people have access to higher education, there is a rise in demand for cognitive enhancers that improve memory. Consumers are increasingly using Memory Enhancement Supplements. Due to these supplements' capacity to store knowledge, recall it when needed, and increase productivity, more people are using them. The tighter labor market and people's desire to gain a competitive edge have an impact on the demand for these supplements.

The Attention & Focus application stood out among others in the global market for nootropic supplements by 19%. Nootropic pills that are designed to improve attention and focus do this by stimulating or inhibiting certain neurotransmitters. As a result, these supplements are also known as cognitive enhancers, smart medicines, and brain boosters. Additionally, the corresponding supplements have gained popularity since parents frequently include nootropic pills in their kids' diets to improve their capacity to concentrate and retain information. Additionally, athletes and other players use nootropic pills to improve their general cognitive capacities during warm-ups and practice.

Global Nootropic Ingredients Market Segmentation: By Distribution Channel

• Offline

• Online

The offline market accounted for more than 70.1% of total income. Independent retail behemoths like Walmart, Walgreens, Tesco, and Costco are expanding their market share, improving product exposure, and drawing in more customers. The preference of consumers to research things before making a purchase is what is causing these channels to see a rise in sales.

The distribution channel that will see the highest CAGR, at 15.3%, is online. Due to a significant change in lifestyles and changes in purchasing habits, consumers are moving from physical to online channels. The category is ultimately being driven by online platforms' high levels of convenience, improved product visibility, and at-home delivery options.

Global Nootropic Ingredients Market Segmentation: By Region

• North America

• Europe

• Asia-Pacific

• South America

• Middle East and Africa

With a revenue share of over 40.0%, North America had the greatest market share and is predicted to keep leading throughout the projected period. A few of the main factors influencing the demand for products in this region are the rising focus on health, the rising awareness of nootropics, and the growing presence of major market participants in the area.

The CAGR for Asia Pacific is predicted to be 16.2%, which is the fastest. Natural, herbal nootropics for boosting the brain have seen an increase in demand as a result of consumers' increased focus on personal wellbeing following the COVID-19 epidemic and increased use of such goods in markets like China and India.

Africa and the Middle East are predicted to have rapid development. Consumers in the area are paying more attention to overall well-being, which is driving market expansion. To address and support brain-related functions like memory, focus, concentration, attention, motivation, relaxation, mood, alertness, and other cognitive function aspects, Nootropix, an online store with headquarters in Abu Dhabi, United Arab Emirates, offers pure nootropics and dietary supplements to customers in the UAE.

COVID-19 Impact on Global Nootropic Ingredients Market:

The COVID-19 pandemic outbreak and the global lockdown that governments enforced in 2020 had an impact on the supply chain, commerce, and movement of people and commodities. This further contributed to the lack of raw materials, which had an impact on the creation of new items for the global market. However, during the pandemic time, increased internet usage and a rise in health problems including immunity, depression, etc. hastened the market's acceptance of nootropic pills.  Due to heightened consumer stress levels during the pandemic, the market for medications that improve memory also surged. As a result, throughout the COVID-19 era, the rise in stress levels, increasing internet usage among consumers, and online ads all contributed significantly to raising consumer awareness of nootropic drugs and fostering market growth.

Global Nootropic Ingredients Market Recent developments:

The need for cognitive enhancement and brain health has led to significant growth in the nootropics industry for brain supplements. In a culture where academic and professional demands are growing, people are actively looking for ways to improve their cognitive abilities and mental performance. Drugs that may enhance memory, attention, and overall cognitive function are becoming more popular as people strive to succeed in their academic, professional, and personal endeavors. This demand encompasses people of all ages and backgrounds in addition to students and professionals. In particular, older people find products that make claims about maintaining cognitive health and reversing age-related decline intriguing. As a result, the market is seeing an increase in the number of clients from all walks of life who are looking to sharpen their mental abilities.

Key Players:

1. Onnit Labs

2. Reckitt Benckiser Group plc.

3. Mental Mojo, LLC

4. NooCube

5. Mind Lab Pro

6. TruBrain

7. Neu Drinks

8. Peak Nootropics

9. Zhou Nutrition

10. Kimera Koffee

• In September 2022: To encourage customers to think larger, Neuriva, a Reckitt brand, launched a partnership with Alton Brown. To encourage people to take better care of their brains, the alliance will bring together Brown's enthusiasm for food and nutrition with brain health.
• In April 2021: Unilever disclosed that it had reached a deal to acquire Onnit, a holistic business with US headquarters in Austin, Texas, that specialises in nutritional supplements for keeping up physical fitness. This agreement gave rise to a purposeful goal of using scientific solutions to enhance consumer well-being.