The GMI Research's latest analysis reveals that the Nootropics Market is slated to register a significant CAGR over the forecast period. This is attributed to the growing consumer spending on health and wellness products, rising consumption of smart drugs, and increasing awareness associated with the benefits of nootropics among the consumers.
DUBLIN, DUBLIN -- (SBWIRE) -- 03/04/2021 -- Nootropics Market Dynamics (including market size, share, trends, growth, forecast, and industry analysis)
The growing consumer spending on health and wellness products, rising consumption of smart drugs, and increasing awareness associated with the benefits of nootropics among consumers worldwide are the key drivers contributing to the growth of the global nootropics market size. Furthermore, the strong demand for brain booster and easy accessibility of the product will further surge the growth of the nootropics market. Furthermore, a drastic shift in consumer preference towards natural nootropics, including caffeine, matcha tea, eggs, spinach, pine bark, peanuts, fish oil, ginseng, and turmeric, will further propel the market growth. The emerging trend of cognitive enhancement among individuals for academic success, professional advantage, athletic performance, personal improvement, and support brain activities over old age will further bolster the growth of the market during the forecast period. According to the nootropics market research, the emerging trend of supplements and the strong adoption of nootropics that can enhance the effectiveness of brain functions and avoid chemical injuries will further pay the way for the growth of the market. On the other hand, a shortage of proper treatment and side effects regarding the nootropics like fatigue, headache, and insomnia will hinder the growth of the global nootropics market.
Request for a FREE Sample Report on Nootropics Market
Nootropics Market's leading Manufacturers:
- Accelerated Intelligence Inc.
- HVMN Inc.
- Cephalon, Inc.
- Purelife Bioscience Co., Ltd.
- AlternaScript LLC
- Teva Pharmaceutical Industries
- Onnit Labs, Inc.
- Gaia Herbs, LLC
- United Pharmacies
- Powder City LLC
- SupNootropic Biological Technology Co., Ltd
Application Segment Drivers
Based on the application, Memory enhancement is anticipated to lead the market. This is attributed to the rising competition in academics, followed by the rising preference for smart drugs among students. Furthermore, memory enhancement supplements are also increasing popularity among the young population suffering from mild Alzheimer's disease, which will further augment the growth of the nootropics market. Memory enhancement, such as numerous popular drugs like Phosphatidylserine, Modafinil, Adrafinil, Phenylalanine, and Noopept, will further boost the market growth. On the other hand, the Attention & Focus application is projected to rise at a higher CAGR during the forecast period due to the rising working population and growing participation in gaming & esports around the world.
Distribution Channel Segment Drivers
Based on the distribution channel, the offline distribution channel is anticipated to dominate the market due to the growing consumer preference to buy nootropics through several drug stores. On the other hand, the online distribution channel is predicted to rise at a higher CAGR. This is attributed to the offering of nootropics by numerous online distribution channels that includes amazon and increasing preference among students for a hassle-free shopping experience at a global level.
To Know More About Nootropics Market
Nootropics Market Segmentation:
Segmentation by Application:
- Memory Enhancement
- Mood & Depression
- Attention & Focus
- Longevity & Anti-aging
- Sleep & Recovery
Segmentation by Distribution Channel:
Segmentation by Region:
- North America
o United States of America
- Asia Pacific
o Rest of APAC
o United Kingdom
o Rest of Europe
o South Africa
o Saudi Arabia
o Rest of the world (remaining countries of the LAMEA region)
Our Other Related Reports:
1. Anti-Epileptic Drugs Market
2. Migraine Drugs Market
About GMI Research
GMI Research is one of the leading market research and consulting company that offers consulting services, syndicated research reports, and customized market research reports. We help our client to make informed business decisions and provide market intelligence studies related to the various industries such as automotive, energy, healthcare, chemicals, technology, and other sectors. Our research teams include seasoned analysts and researchers have hands-on experience in every regions, including Asia-pacific, Europe, North America, and the Rest of the World. Our market research report provides in-depth analysis, which contains refined forecasts, a bird's eye view of the competitive landscape, factors impacting the market growth, and several other market insights to aid companies in making strategic decisions. Featured in the 'Top 20 Most Promising Market Research Consultants' list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to help our clients to stay ahead of the curve.