The global nootropics market size to be valued at USD 29.24 billion by 2028 and is expected to grow at a compound annual growth rate (CAGR) of 15.0% during the forecast period. Rising demand for brain boosters and smart drugs is anticipated to fuel market growth. A large number of students and professionals consume these smart drugs to improve focus and memory. Continuous product development using both synthetic and natural raw materials is projected to further fuel the product demand. The COVID-19 pandemic made a significant contribution in boosting the demand for nootropics as the consumers' inclination has shifted towards brain-health boosting supplements, drinks, and bars to improve their cognitive health. Moreover, several startups and retailers were benefited from online sales of nootropics owing to the COVID-19 pandemic. Furthermore, the demand for organic nootropics such as coffee and supplements with natural ingredients like Brahmi, arctic root, turmeric, ginseng, and pine bark witnessed a surge as consumers are seeking natural nootropics products.
A significant amount of the adult U.S. population consumes multi-vitamin tablets for improving functional capabilities of the brain such as improving cognition, memory, alertness, concentration, creativity, and attention. Moreover, according to the article published on dualdiagnosis.org, in March 2021, smart drugs and nootropics are on the rise in the U.S. as various consumers consume them to improve mental power, which is expected to continue during the forecast period.
Nootropics help the brain to focus, which is highly beneficial for sports enthusiasts. Therefore, companies have been strategically targeting these consumers. For instance, Koios, a nootropic beverage firm located in Colorado, U.S. markets its products in the sports industry by appointing professional players for commercials and sponsoring famous e-sports teams. Citicoline, Choline bitartrate, Alpha-GPC, Caffeine, and N-Acetyl-L-Tyrosine are the naturally derived nootropics that help in improving focus.
Product manufacturers have been introducing new products to cater to the overwhelming demand from consumers. For instance, in April 2019, Gaia Herbs launched a new product - ‘Bacopa’, which is a vegan supplement made using natural ingredients. It contains lemon balm, saffron, and spearmint.
In May 2021, Neuratech (Zoii PTY LTD), a startup based in Brisbane, planned to launch 3x new nootropics. These products are designed to solve and support specific problems related to brain wellness and are available in powered and beverage form in flavors including vanilla and hot chocolate.
The market is anticipated to grow as more organizations and companies are taking the necessary steps to raise awareness. Furthermore, the nootropics industry is expanding due to increased demand for organic nootropics such as coffee, supplements, and natural ingredients such as brahmi, arctic roots, ginseng, pine bark, and turmeric. In addition, the market's growth rate is expected to be driven by the growing adult population, increased demand for brain boosters, and smart medications among them.
The high expense of some supplements, the lack of evidence regarding their effectiveness, and the potential adverse effects of overconsumption of these supplements are some of the key factors that limit the market expansion. Additionally, poor healthcare infrastructure in emerging economies and a lack of public awareness are expected to pose a challenge to the growth of this market.
Furthermore, the market’s expansion is supported by a rise in the number of R&D activities. Increasing drug approvals and introductions of new drugs help boost the market's growth rate. In addition, increased investment in advanced technology research and an increase in the number of developing markets are expected to benefit the market growth during the forecast period.
The capsules/tablets segment held the largest revenue share of over 45.0% in 2020 and is expected to maintain its lead over the forecast period. Capsules/tablets have seen an uptick in demand as the product manufacturers are marketing them in these forms, which is expected to continue during the forecast period.
The drinks segment is projected to register the fastest CAGR of 16.0% from 2021 to 2028. Nootropics ingredients are being incorporated into RTD drinks and shots to help improve functions such as focus and memory. Nootropics in drinks form are gaining popularity due to their ability to be digested more quickly than food, allowing them to boost the brain instantly.
The powder segment held the second-largest revenue share in 2020. Well-established players such as Reckitt Benckiser Group PLC are also planning to enter the nootropic market. For instance, in May 2019, it launched a new product Neuriva - Neurofactor and Sharp PS. Neurofactor is a pure coffee fruit extract and supports the general ability to boost brain-derived neurotrophic factor, which is healthier than other green coffee caffeine powder. Such product offerings are expected to drive the market.
The offline segment held the largest revenue share of over 70.0% in 2020. The increasing penetration of independent retail giants such as Walmart, Walgreens, Tesco, and Costco is boosting product visibility and attracting a larger consumer base. Consumers prefer to explore these products before buying, which is driving the sales through these channels.
The online distribution channel is projected to register the highest CAGR of 15.4% from 2021 to 2028. Consumers are switching from offline to online channels owing to the change in their purchasing patterns and a considerable shift in lifestyles. Online platforms offer high levels of convenience, increased product visibility, and at-home delivery features, which is eventually driving the segment.
North America held the largest revenue share of over 40.0% in 2020 and is expected to maintain its lead over the forecast period. The growth of the market in the region is supported by the increasing presence of key market players in the region, rising focus on health, and rising awareness regarding nootropics, which are among the key factors driving the product demand in this region.
Asia Pacific is projected to register the fastest CAGR of 16.0% from 2021 to 2028. After the outbreak of the COVID-19 pandemic, the consumers in the economies including China and India have intensified their attention toward personal wellness and are increasingly consuming such products, which has led to a surge in demand for natural, herbal nootropics for supporting the brain.
The Middle East and Africa is expected to witness significant growth from 2021 to 2028. Consumers in the region are developing prolonged attention towards overall wellness, which is boosting the market growth. Nootropix, an e-commerce store based in Abu Dhabi, UAE, offers pure nootropics and dietary supplements to consumers in UAE for addressing and supporting brain-related functions such as memory, focus, concentration, attention, motivation, relaxation, mood, alertness, stress, and other cognitive function aspects.
The market is characterized by the presence of a few well-established players and several small and medium players. Product launches are among the key strategic initiatives undertaken by the industry players to gain a competitive edge in the market. The product manufacturers are introducing new variants in the nootropics product categories to capture a larger consumer base.
For instance, in October 2021, Savvy Beverage is planning to launch instant coffee and soda drinks containing nootropic ingredients to enhance brain health. Similarly, in February 2021, Mind Cure Health Inc. announced the release of its original nootropic and adaptogen product offerings for promoting support across the spectrum of mental hygiene. The product offerings include three nootropics formulations in capsule and powder form and a teen-centric formulation in capsule form with added energy, focus, and protection from immune threats.
In April 2021, Unilever announced that it had signed an agreement to buy Onnit, a holistic company based in Austin, Texas (US) that focuses on supplements for maintaining physical fitness. This agreement resulted in a purposive vision to make improvements in the wellbeing of consumers through scientific solutions
In February 2022, Vaga.org and Vagarights.com have merged to improve the online experience for nootropics research and reviews. The merging of both the organizations has been successful in providing accurate scientific information and suitable research. Hence, both the companies will carry forward the brand, VAGA and this resulted in providing individuals with insightful content on health and wellness
Koios Beverage Corp. has teamed up with McLane Co. to expand its Fit Soda distribution network in convenience shops and gas stations across the country.It boosts human productivity without the inclusionof dangerous pharmaceuticals by using a proprietary blend of nootropics and natural organic ingredients. Moreover, the teaming up with McLane Co. has also been beneficial for Koios as its beverages will be carried in more than 600 locations across the country, thereby increasing its trend and making further expansion
Some prominent players in the global nootropics market include:
Onnit Labs
Reckitt Benckiser Group plc.
Mental Mojo, LLC
NooCube
Mind Lab Pro
TruBrain
Neu Drinks
Peak Nootropics
Zhou Nutrition
Kimera Koffee
Report Attribute |
Details |
Market size value in 2021 |
USD 10.67 billion |
Revenue forecast in 2028 |
USD 29.24 billion |
Growth Rate |
CAGR of 15.0% from 2021 to 2028 |
Base year for estimation |
2020 |
Historical data |
2016 - 2019 |
Forecast period |
2021 - 2028 |
Quantitative units |
Revenue in USD million/billion and CAGR from 2021 to 2028 |
Report coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Segments covered |
Form, distribution channel, region |
Regional scope |
North America; Europe; Asia Pacific; Central & South America; Middle East & Africa |
Country scope |
U.S.; Germany; Italy; China; India; Brazil; UAE |
Key companies profiled |
Onnit Labs; Reckitt Benckiser Group plc.; Mental Mojo, LLC; NooCube; Mind Lab Pro; TruBrain; Neu Drinks; Peak Nootropics; Zhou Nutrition; Kimera Koffee |
Customization scope |
Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope. |
Pricing and purchase options |
Avail of customized purchase options to meet your exact research needs. Explore purchase options |
This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2016 to 2028. For the purpose of this study, Grand View Research has segmented the global nootropics market report on the basis of form, distribution channel, and region.
Form Outlook (Revenue, USD Million, 2016 - 2028)
Capsules/Tablets
Powder
Drinks
Others
Distribution Channel Outlook (Revenue, USD Million, 2016 - 2028)
Offline
Online
Regional Outlook (Revenue, USD Million, 2016 - 2028)
North America
Europe
Germany
Italy
Asia Pacific
China
India
Central & South America
Middle East & Africa
UAE
b. The global nootropics market size was estimated at USD 9.57 billion in 2020 and is expected to reach USD 10.67 billion in 2021.
b. The global nootropics market is expected to grow at a compound annual growth rate of 15.0% from 2021 to 2028 to reach USD 29.24 billion by 2028.
b. Capsules/Tablets held the largest share of the nootropics accounting for over 49.71% in 2020. Capsules/tablets have seen an uptick in demand as the product manufacturers are marketing them in these forms, which is expected to continue during the forecast period.
b. Some key players operating in the nootropics market include Onnit Labs, Reckitt Benckiser Group plc, Mental Mojo, LLC, NooCube, Mind Lab Pro, TruBrain, Neu Drinks, Peak Nootropics, Zhou Nutrition, and Kimera Koffee.
b. Nootropics are gaining popularity as cognitive enhancers and smart drugs, as these are particularly used for improving memory, increasing mental alertness, concentration, boosting energy levels, and wakefulness.
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The Beauty and Personal Care (BPC) industry has witnessed a decline in the wake of the Covid 19 pandemic, but the impact is not as severe as seen in other industries. Although discretionary spending has reduced, the BPC market has witnessed a consumer behavioral shift towards safe and reliable products. Products that have a lower risk of contamination owing to automation and longer shelf lives helping the rationing of consumer supplies are expected to stand out in the near future. Brands are also focusing on improving their supply lines in terms of strengthening their E-commerce channel along with offering at-home wellness products, which are highly suited in this volatile business environment. Our team is diligently working towards accounting these factors in our report with the aim of providing you with the up-to-date, actionable market information and projections.
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