Nootropics Market Size, Share, Growth Analysis, By Form(Capsules/Tablets, Powder, Drinks, Others), By Distribution Channel(Online, Offline), By Region - Industry Forecast 2024-2031

Global Nootropics Market size was valued at USD 3.77 billion in 2022 and is poised to grow from USD 4.32 billion in 2023 to USD 12.87 billion by 2031, growing at a CAGR of 14.62% during the forecast period (2024-2031).

The nootropics market is highly competitive and fragmented, with key players focusing on innovation, strategic partnerships and marketing to capture market share. Major pharmaceutical companies like Pfizer and Novartis are using their expertise to develop the clinically proven nootropic solutions. In October 2021, Australia-based start-up Savvy Beverage announced an instant coffee and soda drink containing nootropic ingredients to improve brain function. The product line is an extension of its current product line of functional coffee pods, which are compatible with Nespresso coffee machines.  'Onnit Labs, Inc. ', 'Reckitt Benckiser Group PLC ', 'Mental Mojo, LLC ', 'NooCube ', 'Mind Lab Pro (Performance Lab Group Ltd) ', 'TruBrain ', 'Zhou Nutrition ', 'Kimera Koffee ', 'Purelife Bioscience Co. Ltd. ', 'Nootrobox Inc. ', 'Nootropic Source ', 'AlternaScript LLC ', 'HVMN Inc. ', 'Powder City LLC ', 'Nootropics Depot LLC ', 'Peak Nootropics ', 'Nootropic Geek LLC ', 'Mind Nutrition Ltd. ', 'Neurofuse Inc. ', 'BrainMD Health', 'In September 2022, Newriva, a mental health product provider under Reckitt, partnered with chef and nutritionist Alton Brown to promote a holistic approach to brain health. ', 'In August 2022, Nu: tropic, a UK provider of nootropic products, announced the launch of a nootropic-based snack bar. The bars are made from Norwegian black oats and contain important brain nutrients such as choline, phosphatidylserine and omega-3.  ', 'In October 2021, Australian startup Savvy Beverage launched instant coffee and sodas with nootropic ingredients to boost brain function. The product line is an extension of its current line of functional coffee makers, which are compatible with Nespresso coffee machines. '

The increasing global awareness on mental health and mental wellbeing is a key driver for the nootropics market. With increasing cases of cognitive decline, memory loss and cognitive fatigue due to age, stress and lifestyle factors, people are turning to mood stabilizers to improve brain function. This tendency is particularly strong in students, professionals and older people who require better concentration, memory and mental clarity.  

Rise in the Emergence of Customized Nootropics: Personalized health solutions are becoming a major trend, and customized nootropic formulas are gaining momentum. Companies are using AI and data analytics to create customized products based on individual psychological needs, genetics and lifestyle factors. This approach increases customer engagement and generates better results, as well as customer loyalty. The trend reflects a broader shift towards health care equity and personal well-being. 

North America is a dominating segment within the nootropics market. North America is home to several pharmaceutical agencies, nutraceutical manufacturers, and startups focused on the development and commercialization of nootropic merchandise. Companies in North America are always innovating in the nootropics area, formulating new products that incorporate synthetic and herbal components to enhance cognitive functions. North America plays a dominant and influential role in the global nootropics market, driven by several key factors, including advanced healthcare infrastructure, high consumer awareness, and a growing focus on cognitive health. The region, particularly the United States and Canada, is at the forefront of both the development and consumption of nootropic products.  As per the nootropics market outlook, the Asia Pacific region is expected to grow at a CAGR of 15.7% during the forecast period. Increasing awareness of the daily food needs has driven consumer demand for certain supplements, including active ingredients and nootropics, particularly in response to the COVID-19 pandemic in Asia Pacific. Asia-Pacific is experiencing a surge in customer interest toward cognitive fitness and mental wellbeing, especially in international locations like China, India, Japan, and South Korea. The place’s rapidly growing population, coupled with the growing cognizance of the significance of intellectual clarity, consciousness, and memory, is fueling demand for the nootropic products.