The Global Nootropic Supplement Market is expected to grow at a CAGR of around 14.71% during the forecast period of 2022-27, says MarkNtel Advisors in their recent research report. The increasing requirement to learn & develop skills with better focus & creativity among the students, professionals, sportspersons, etc., in the competitive world has helped the Nootropic supplements to gain attention in recent years. Moreover, during the COVID-19 pandemic, the spread of the virus, loss of jobs, and various other adverse financial & social conditions affected the mental health of the population, worldwide. Thus, it shifted the focus of the population to boost their mental strength, reduce anxiety, enhance alertness, etc.
Hence, these factors created increased demand among the customers to add nootropic supplements to their diet, leading to enhancing the popularity & growth of the supplements during COVID-19 & the coming period. Additionally, the availability of the nootropic supplements in various foods & drinks has allowed the customers to add these supplements into their diet. Besides, the increasing presence of a variety of these supplements in online stores has helped customers choose according to their needs & convenience.
Along with this, manufacturing companies are investing more in research & development (R&D) to develop & launch products based on market demand, which allows customers to choose from a variety of products. Hence, these factors are helping the nootropic supplements to gain popularity & enhance sales with the increasing demand in the global market, further states the research report, "Global Nootropic Supplement Market Analysis, 2022-2027."
Lowered Side Effects of Natural Nootropic Supplement Would Lead the Market Growth
Based on the product type, the market is bifurcated into Natural & Synthetic. Among them, the Natural Nootropic Supplements are more preferred as compared to the synthetic supplements as the natural supplements are extracted naturally from various plants & animals to enhance memory, concentration, motivation, attention, and other brain health issues. These supplements are available in the form of pills, capsules, and powders, as well as are even available as whole foods & plants.
Moreover, they have fewer side effects as compared to synthetic Nootropic Supplements. Therefore, the customers often prefer the natural nootropic supplements available in the market like Caffeine, Ashwagandha, Ginkgo biloba, Panax ginseng, etc. Furthermore, Natural supplements provide overall health benefits like they fulfill the requirement of the vitamins, minerals, etc., in the body of consumers, making them the most preferable supplements in the market.
North America Held a Considerable Share in the Global Market
Geographically, North America witnessed considerable growth in the Global Nootropic Supplement market as the region has numerous market players that provide customers with options to choose products from different brands & ranges. Moreover, the increased awareness among the citizens about the mental health & availability of Nootropic products in the market has also helped generate sales & revenue.
Apart from these, the presence of online stores & a well-established network in the e-commerce sector has also influenced the market players to enhance their sales channels via online stores. Therefore, these factors would help the region lead the global market during the forecasted period, reveals MarkNtel Advisors in their research report, "Global Nootropic Supplement Market Analysis, 2022-2027."
According to MarkNtel Advisors, the leading players in the Global Nootropic Supplement Market are Onnit Labs, Mental Mojo, LLC, NooCube, Mind Lab Pro, TruBrain, Peak Nootropics, Zhou Nutrition, Kimera Koffee, Neu Drink, Accelerated Intelligence Inc, AlternaScript LLC, Cephalon, Inc, SupNootropic bio co, Ltd, Teva Pharmaceutical Industries Ltd, Nootrobox Inc.
Key Questions Answered in the Study