Nootropics Market Size and Trends

The Global Nootropics Market is estimated to be valued at USD 3.66 Bn in 2024. The market is expected to reach USD 8.98 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 13.7% from 2024 to 2031.

Key Takeaways of the Nootropics Market:

The capsules/tablets segment is projected to account for 40.3% of the market share in 2024
The offline segment of the distribution channel is expected to hold a 65.4% market share in 2024
North America is projected to lead the global market with a 42.3% share in 2024, followed by the Asia Pacific region, which is expected to hold a 25.6% share

Market Overview:

Growing awareness regarding cognitive health and focus on improvement of memory, motivation, and mood has been driving the market growth. The market is witnessing high growth on account of increasing the adoption of nootropics supplements by students and professionals to enhance memory, focus, motivation, and mood. Wide acceptance and availability of various nootropic supplements online is also contributing to the market expansion. Rising millennial population and growing health concern regarding cognitive functions are expected to propel the demand during the forecast period.

Nootropics Market Concentration By Players

To learn more about this report, Request sample copy

Key Developments:

In September 2022, Reckitt, a global leader in health, hygiene, and nutrition, partnered with renowned chef and food enthusiast Mr. Alton Brown to promote its cognitive health supplement brand, Neuriva. This collaboration aimed to highlight the importance of brain health as an integral part of overall wellness. The campaign showcased Neuriva's comprehensive product lineup, including Neuriva Plus, the newly introduced Neuriva Sleep, and Neuriva Brain plus Energy, reflecting Reckitt's commitment to innovation in health and nutrition.
In August 2022, Performance Lab Ltd. (Nu:tropic), a U.K.-based nootropic product provider, introduced snack bars infused with brain-boosting nutrients. Made with Norwegian black oats, these bars include key ingredients like choline, phosphatidylserine, and omega-3. Available in flavors such as maple and pecan, salted caramel, raisin and almond, and apple and cinnamon, they offer a convenient way to support cognitive health.
In October 2021, Savvy Beverage, an innovative Australian start-up focused on creating functional beverages, introduced a new product line featuring an instant coffee and soda drink infused with nootropic compounds aimed at boosting brain function. This launch complements the company’s existing range of functional coffee pods, which are designed for use with Nespresso machines, showcasing Savvy Beverage's dedication to offering unique, health-conscious drink options to enhance both mental and physical well-being.

Top Strategies Followed by Global Nootropics Market Players

Established Players: Leading companies heavily invest in research and development to drive product innovation
For instance, Champions like Anthropic dedicate over 20% of annual revenue to R&D and clinical research. They innovate nootropics formulations tailored to emerging consumer needs in areas like brain health, memory enhancement, and focus.
Mid-Level Players: Medium players prioritize cost-effective solutions to attract price-conscious customers. Companies, such as Ceretropic, offer AI-designed nootropic stacks at affordable rates. They leverage strategic partnerships for joint product development and market expansion. For example, Reckitt formed an alliance with DSM to bolster nutrition product development capabilities.
Small-Scale Players: Niche specialization is key for small brands to stand out. Firms focus on underserved consumer segments with specialized formulations. Genexa develops children’s nootropics targeting brain development, while Neurohacker cater nootropics for programmers and entrepreneurs. They also adopt emerging technologies through collaborations for competitive differentiation.

Emerging Startups - Global Nootropics Industry Ecosystem

Innovative Technologies: Startups are implementing advanced technologies to accelerate innovation. For example, Anthropic applies Constitutional AI to develop safe and effective nootropics. Mindbloom uses psychedelics in combination with psychotherapy and digital therapeutics. Their solutions could transform treatment for various mental health conditions.
Sustainable Solutions: Startups contribute to sustainability. Neurodrive sources ingredients from regenerative farms. Vitamin Hunters extracts nootropics from food waste, thereby promoting circular bioeconomy. Their eco-friendly focus will strengthen the industry’s environmental profile over time.
Market Contribution: Startups fulfill unique market needs. Flow Formulas focuses on women’s brain health with menopause support supplements. Fast Formulas caters to busy professionals with 15-minute nootropic routines.