PUBLISHER: Value Market Research | PRODUCT CODE: 1421064
PUBLISHER: Value Market Research | PRODUCT CODE: 1421064
The global demand for Nootropics Market is presumed to reach the market size of nearly USD 17.72 BN by 2032 from USD 4.94 BN in 2023 with a CAGR of 15.24% under the study period 2024 - 2032.
Nootropics, or smart drugs, cognitive enhancers, encompass natural or synthetic substances thought to improve cognitive function, memory, creativity, motivation, and overall mental performance. The term 'nootropics' was introduced by Romanian psychologist and chemist Corneliu E. Giurgea during the 1970s.
The Nootropics market experiences significant growth driven by various factors addressing the increasing demand for cognitive enhancement. Rising awareness of nootropics and their potential cognitive benefits, coupled with the prevalence of stress and demanding work environments, fuels consumer interest. Modern lifestyles, characterized by tech-driven cognitive fatigue, contribute to the appeal of nootropics as tools to counter mental exhaustion and enhance alertness. In competitive academic and professional arenas, individuals seek cognitive advantages, contributing to the market's expansion. The aging population's focus on maintaining cognitive health and the pursuit of creativity by professionals further drive the demand for nootropics. Online accessibility and media influence play pivotal roles, making these cognitive enhancers readily available and shaping consumer perceptions. Ongoing research and development in cognitive enhancement contribute to the introduction of new compounds, fostering innovation in the market. While the market grows, it is essential for consumers to approach nootropics with caution, considering potential risks and benefits as the efficacy and safety of these substances continue to be explored.
The research report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of nootropics. The growth and trends of nootropics industry provide a holistic approach to this study.
This section of the nootropics market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
This section covers the regional outlook, which accentuates current and future demand for the Nootropics market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the Nootropics market include Onnit Labs Inc., Reckitt Benckiser Group PLC, Mental Mojo, LLC, NooCube, Mind Lab Pro (Performance Lab Group Ltd), TruBrain, Neu Mind, LLC, Nooflux LLC, Zhou Nutrition, Kimera Koffee. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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