Nootropic Supplement Market

Nootropic Supplement Outlook for 2023 to 2033

The nootropic supplement market is expected to expand from USD 2,200 million in 2023 to USD 4,180 million by 2033. From 2023 to 2033, global nootropic supplement sales are likely to soar at 9.0% CAGR.

A nootropic supplement, or smart drug, is a compound that presents high attractiveness to consumers who prefer more lasting mental activity and focus. Nootropics are used to treat diseases such as Alzheimer's since they offer numerous benefits for brain health and cognitive aptitude.

Primarily, this supplement is sold to consumers through two formats. One is through over-the-counter, where an individual has access to a range of nootropic supplements that do not require any prescription from a doctor or a professional. Conversely, the prescribed format refers to the nootropic supplement that can be accessed only after getting approval from a doctor or health professional.

Hectic, urban lifestyles have increased cognitive, focus, and other related health concerns. To reduce these concerns, there is a growing preference for nootropic supplement added to meals and on-the-go products that are easy to consume and widely available. Due to the broad product portfolio, consumers can select a nootropic supplement to cater to a specific need.

The report reveals projections of up to 60% of global consumers planning to improve their health and wellness over the next year. This bodes well for the nootropic supplement market. It also notes that 79% of United States consumers say taking the supplement is vital to their overall health.

67% of global nutritional supplement users plan to continue using the supplement over the next year, and 49% of all supplement users say they would be willing to spend more on supplement.

Attributes	Details
Nootropic Supplement Business Size (2023E)	USD 2,200 million
Nootropic Supplement Business Projected Size (2033F)	USD 4,180 million
Value CAGR (2023 to 2033)	9.0%
Top 3 Countries Value Share	30.8%

Historical Performance of Nootropic Supplement Sales Outlook

The global nootropic supplement sales grew at a CAGR of 8.4% from 2018 to 2022. By 2033, sales of nootropic supplement are projected to progress at 9.0% CAGR. These products are easy to consume, fairly widely available, and have several health benefits, making them a popular choice among consumers globally.

The growing popularity of consumers wanting robust brain health resulted in high demand in the nootropic supplement market. Increasing expenditure on memory supplement is another key factor driving market growth. Consumers across the globe are shifting their preferences towards supplements containing natural ingredients. This is creating lucrative growth opportunities for nootropic supplement manufacturers.

Another industry-influencing trend is using convenient delivery forms to improve distribution channels. Companies are investing in advanced technologies to ensure products contain naturally sourced ingredients. The nootropic supplement business has grown steadily over the past decade. Aspects such as increasing awareness of cognitive health, a rising aging population, and a rise in mental health problems have subsidized this growth.

There has been a noteworthy increase in customer awareness and interest in nootropic supplement. Individuals are becoming more active in their cognitive health and looking for products to improve memory, emphasis, and overall brain function.

Customers are screening a preference for natural and botanical ingredients over synthetic compounds. Ginkgo Biloba, Bacopa Monnieri, Ashwagandha, and Lion's Mane Mushroom have become popular due to their cognitive-enhancing properties.

Nootropic stacks, blends of diverse ingredients created to work synergistically to enhance cognitive benefits, are becoming increasingly popular. These stacks target precise cognitive functions such as improving memory, concentration, and mood stabilization.

Easy access to e-commerce platforms has played a vital role in the sales development. Customers can easily research and buy products online, increasing the number of direct-to-consumer brands.

Latest Trends, Hindrances, and Opportunities Influencing Nootropic Supplement Sales

Attributes	Key Factors
Latest Trends	Raise consumer awareness: Consumers are increasingly aware of the importance of cognitive health. People are becoming proactive about their mental health, leading to an increase in demand for nootropic supplement. Focus on natural ingredients and herbs: Consumers prefer natural and botanical ingredients over synthetic compounds. Customization and personalization: The personalized nutrition trend has expanded into the nootropic supplement sales. Companies develop products tailored to specific cognitive and lifestyle needs. Growing demand for layered formulas: Nootropic stacks, which combine several ingredients to enhance cognitive benefits, are increasing in popularity. Companies formulate specific combinations of elements for targeted cognitive functions, such as improving memory, concentration, and mood stabilization. Domination of e-commerce: Easy access to e-commerce platforms has played a crucial role in sales growth. Customers can easily research and purchase products online, leading to an increase in direct-to-consumer brands.
Growth Hindrances	Limited scientific evidence: Although some individual ingredients in nootropic supplement have shown promise in studies, several formulations' overall effectiveness and safety still need to be addressed. The lack of rigorous, large-scale clinical trials may create a barrier to widespread acceptance. Regulatory challenges: The regulatory setting for dietary supplement varies by country, and there can be uncertainty about how these goods are classified and regulated. Stricter guidelines or unclear guidance can create barriers to product growth. Concerns about safety and side effects: Nootropics can have side effects or potential connections with other medications like any supplement. Safety concerns, particularly with long-term use or in specific populations, may influence customer perception and acceptance.
Upcoming Opportunities	Population aging and cognitive health: The aging global population is vital to the nootropic supplement demand. As individuals seek ways to uphold cognitive function and prevent age-related cognitive decline, demand for products that support brain health is increasing. Raising awareness and education: Continued efforts to educate customers about the benefits of nootropic supplement and their latent to improve cognitive function can drive development. Focus on natural and organic ingredients: The preference for natural and organic products is a rising trend in several industries, including dietary supplement. Companies providing high-quality organic and natural nootropic ingredients will likely find significant growth opportunities. Targeted wording for specific demographics: Developing nootropic products tailored to specific demographic groups, such as students, specialists, athletes, and older people, can tap into niches with exclusive cognitive needs.

Country-wise Insights

The United States has one of the prominently growing and leading nootropic supplement markets globally, owing to rising demand for brain health products. It is expected to reach USD 791.8 million by 2033.

China-based businesses are still emerging players in the nootropic supplement market. However, it carries high potential as nootropic supplements in China are domestically manufactured and imported, giving consumers a wide array of choices.

The market in China is expected to grow at a significant 6.8% CAGR through 2033. Research progress and widespread awareness is a key factor driving growth in the nootropic supplement market in Germany and is expected to drive growth at 3.3% CAGR in the market through 2033.

Countries	CAGR (2023 to 2033)
United States	7.8%
China	6.8%
Germany	3.3%

Significant Share of Students in the Populace Driving Sales in the United States

The United States nootropic supplement market is poised to exhibit a CAGR of 7.8% during the assessment period. By 2033, the United States' size is expected to reach USD 791.8 million. Nootropic supplement is categorized as dietary supplement by the FDA. They carry fewer stringent regulations than pharmaceutical drugs, as these supplements are primarily sold over the counter.

Nootropic supplement is primarily purchased online. This opens up the convenience of getting the product from various manufacturers and brands all in one place. The ease of purchase has made it simple for customers to explore their options and compare products.

The consumer base in the United States includes students as it helps them with exams, professionals use it for work productivity, and older adults use it to keep sharp as they age. This has created peak interest in manufacturers' minds to develop nootropic supplements while considering all age groups.

Evolving Regulatory Landscape in China to Significantly Support Growth

Nootropic supplement market in China is anticipated to rise at a steady CAGR of 6.8% during the forecast period from 2023 to 2033. The Chinese government has steadily standardized the rules and regulations regarding health products and dietary supplements. These rules and regulations include product labeling requirements and sourcing regulations to improve safety and product quality.

Regarding the variety of supplements, locally manufactured and imported nootropic supplement is available in China. These varieties include herbal and natural supplements as well as synthetic additives. Manufacturers in China focus on creating unique formulations to gain a share in the global ecosystem. As studies regarding cognitive health advance, it is expected to bring forth new lucrative opportunities for key players.

Rising Focus on Natural and Organic Supplements to Favor the United Kingdom

The United Kingdom's nootropic supplement market is expected to reach a valuation of around USD 175.3 million by 2033. The key factor contributing to the growth of the nootropic supplement market in the United Kingdom is its significant population, which focuses on natural and more sustainable solutions. Rising wellness and self-care trends have influenced consumers even more, boosting sales in the nootropic supplement market.

Several natural ingredients-based nootropic supplements have minimalistic side effects compared to their synthetic counterparts. This raises fewer concerns among potential consumers regarding the risk associated. Furthermore, health-related campaigns and online resources help influence consumers regarding the benefits of a natural nootropic supplement derived from plants and herbs.

High Safety, Quality and Labeling Standards to Augment Revenue in Canada

Canada is one of the countries with a significant share of the elderly population globally. With this demographic shift comes increased awareness of cognitive health and greater interest in goods that support brain purpose and memory. Canada has specific guidelines regarding dietary supplement manufacture, counting nootropics. The Canadian government has recognized standards for safety, quality, and labeling.

Canada’s customers often favor natural and traditional ingredients. Products that contain herbs and botanicals that are well-known and used in conventional medicine may be especially appealing. Consumers are famous for their high standards of product superiority and safety. Businesses that want to succeed must prioritize raw material quality and experience rigorous testing.

Rising Awareness and Educational Campaigns in Germany to Boost Demand

The nootropic supplement market is expected to surge at a CAGR of 3.3% in Germany by 2033. Educational campaigns about the cognitive health and benefits of nootropic supplements can help build consumer confidence in this product category. Canada is known for its technological progress and research capabilities. Companies engaged in cutting-edge cognitive health research and developing innovative nootropic products can succeed.

Canadian consumers tend to value brands that are reputable and trustworthy. Companies with a reputation for quality and dependability may have an advantage in gaining customer trust. As e-commerce grows, several consumers still favor buying products over traditional retail channels. Creating partnerships with regional distributors or retailers can be beneficial.

Being sensitive to German culture and customs is significant for a thriving industry. This comprises considerations around packaging, messaging, and promotional activities. Constructing relationships with medical professionals and receiving their endorsements or referrals can effectively build customer credibility and trust.

Category-wise Insights

Segment	Market Value (2023)
Natural (Ingredient Type)	USD 2,546.8 million
Over-the-Counter (Product category)	USD 3,130.1 million
Capsules/Tablets(Form)	USD 2,174.3 million

Demand to Remain High For Natural Ingredients among Consumers

Based on ingredient type, demand is expected to remain high for naturally sourced ingredients during the assessment period. With a noteworthy share of around 69.3%, the natural ingredient types segment is projected to reach a valuation of USD 2,546.8 million in 2033.

Naturally sourced ingredients used for the formulation of nootropic supplements are preferred by consumers due to their significant neuro-enhancement and neuroprotective benefits. One of these ingredients is Gingko Biloba, which is primarily used to improve perceptual and motor functions. According to the market report, Ginseng has consistently improved in the cognitive area across sports. For instance, an individual in the education profession might go for ashwagandha as it shows better results in improving social cognition.

Growing Popularity of Over-the-Counter Category Attributed to Ready Availability

The over-the-counter segment is anticipated to thrive at 8.6% CAGR during the projection period to reach a valuation of USD 3,130.1 million in 2033. The over-the-counter (OTC) supplement category products do not require a prescription. This supplement segment caters to all age groups, from minors to senior citizens, to treat minor health problems.

Furthermore, the price of any nootropic supplement sold through OTC is less expensive when compared to a prescription-based supplement. The primary factor contributing to the growth of the OTC product category is the ease of accessibility that it provides. Consumers can readily buy this supplement category at pharmacies, drug stores, and online retailers.

Easy-to-Use Nature of Capsules/Tablets Fuelling their Demand

The capsules/tablets segment is expected to register a CAGR of 6.5% from 2023 to 2033. The target segment will likely reach USD 2,174.3 million by the end of 2033. Factors such as the longer shelf life of capsules/tablets concerning powder or drinks form easy to store, consume, and transport contribute to the growth of the capsules/tablets format.

According to market analysis, consumers are getting pickier, with approximately 58% stating that their supplement is essential to taste good. Convenience is paramount, whether they are opting for traditional tablets and capsules or simply looking for a delivery form that's fun for them to take.

Growth in E-commerce Networks to Bode Well for Online Retail Segment

The online retailers segment is expected to register a CAGR of 8.6% from 2018 to 2022 and a CAGR of 9.1% from 2023 to 2033. The convenience and accessibility offered by online platforms have revolutionized how consumers shop, enabling them to browse and purchase products from the comfort of their homes. Nootropic supplement, known for its health benefits regarding brain health support, can now reach a wider audience through these digital channels.

By utilizing e-commerce and online retail platforms, nootropics supplement manufacturers and suppliers can access a global business, surpassing geographical limitations and reaching customers beyond traditional retail boundaries.

This expansion creates opportunities for increased sales and revenue generation. Online channels offer comprehensive product information, customer reviews, and recommendations, which contribute to building consumer trust and confidence in nootropic supplements.

Competitive Landscape

The ecosystem offers a wide range of products that provide individual and nootropics stacks (combinations of different nootropics) targeting brain health. Several companies have been engaged in the nootropics supplement trade.

Several established players and several medium and small-sized players categorize the industry. Product launches are key growth initiatives businesses undertake to gain a competitive advantage. Product manufacturers are presenting new variations in the nootropic product category to appeal to a broader customer base.

For instance

• Onnit is known for its Alpha Brain product, popular among athletes. Companies are investing in research and development to generate formulations targeting specific needs.
• In October 2021, Savvy Beverage launched soft drinks and instant coffee comprising nootropic elements to improve brain health.
• In February 2021, Mind Cure Health Inc. announced the launch of its initial nootropic and Adaptogen products to promote care across the mental hygiene spectrum.
• In 2022, Jones Soda launched a first-of-its-kind nootropic supplement in collaboration with Mike Tyson and Wesana Health.
• Liveli introduced a nootropic supplement system. A distinctive combination of three supplement focuses on sleep, focus, and cognition.

Scope of the Report

Attribute	Details
Estimated Nootropic Supplement Size (2023)	USD 2,200 million
Projected Nootropic Supplement Valuation (2033)	USD 4,180 million
Value-based CAGR (2023 to 2033)	9.0%
Forecast Period	2023 to 2033
Historical Data Available for	2018 to 2022
Sales Analysis	USD million for Value, Units for Volume
Key Regions Covered	North America; Latin America; Europe; East Asia; South Asia; and the Middle East and Africa
Key Countries Covered	United States, Canada, Brazil, Mexico, Germany, United Kingdom, France, Italy, Spain, Nordic, Russia, Poland, China, India, Thailand, Indonesia, Australia and New Zealand, Japan, GCC countries, North Africa, South Africa, and others.
Key Segments Covered	Ingredient Type, Product Category, Form, Sales Channel
Key Companies Profiled	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.

Nootropic Supplement Segmentation by Category

By Ingredient Type:

• Natural
  • Panax Ginseng
  • Ginkgo Biloba
  • Asiatic Pennywort
  • Ashwagandha
  • Bacopa Monnieri
  • Guarana
  • Eleuthero
  • Rhodiola Rosea
  • Schisandra Chinensis
  • Others (Maca, etc.)
• Synthetic
  • Racetams
  • Modafinil
  • Sunifiram
  • Phosphatidylserine
  • Choline
  • DMAE
  • Unifiram
  • Hydrafinil
  • Citicoline
  • Others (Adranfinil, etc.)

By Product Category:

• Prescribed
• Over-the-Counter

By Form:

• Capsules/Tablets
• Powder
• Drinks
• Gummy

By Distribution Channel:

• Health Food Stores
• Pharmacies and Drugstores
• Professional Healthcare Practitioners
• Nutrition Stores
• Healthcare Professionals
• Online Retailers

Frequently Asked Questions

At what rate will the nootropic supplement sales grow?

Throughout the forecast period, the nootropic supplement business is expected to grow at a CAGR of 9.0%.

What is the expected value of the nootropic supplement ecosystem by 2033?

By 2033, the nootropic supplement ecosystem is expected to be worth USD 4,180 million.

Which segment type will garner significant value share by 2023?

The natural ingredient type segment will likely garner a value share of 64.3% by 2023

Which sales channel aspect of nootropic supplement ecosystem is likely to grow by 2033?

The online retailers segment under sales channel category is predicted to grow significantly.

Who are the key players in the nootropic supplement industry?

Some of the key players include Onnit Labs, Mental Mojo LLC, NooCube, Mind Lab Pro, TruBrain, etc.