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).

Increasing consumer spending on various healthcare services and fitness products is expected to fuel the growth of the market over the forecast period. With the increasing number of students attending college as well as a workforce that demands better qualifications due to the low unemployment rate, prospective candidates have been seeking natural ways to gain a competitive advantage and improve their performance. 
 
In addition, the growing use of the product among athletes and sports professionals as well as among consumers for personal improvement will have a positive impact on the market over the forecast period. 
 
The growing geriatric population coupled with the rising occurrence of various brain-related diseases including dementia and other issues such as arthritis has increased the need for nootropics. Moreover, these products are employed for the treatment of other cognitive and age-related disorders including hyperactivity, as well as Parkinson's disease. Numerous consumers across the globe have been undergoing depression as well as other mood and emotional disorders. Thus, rising demand for mood enhancers is also expected to stimulate industry growth over the next six years.  
 
Increasing cognitive development among healthy consumers for academic and career benefits is expected to drive the demand for nootropics in the next six years. Furthermore, the widespread use of the product for personal development among athletes and sports professionals as well as consumers will positively affect the nootropics market growth during the forecast period.