Global Nootropics Market to See Remarkable Growth with Projected CAGR of 14.6% by 2030, Driven by Rising Cognitive Health Awareness

DUBLIN, Jan. 11, 2024 /PRNewswire/ — The “Global Nootropics Market Size, Share & Trends Analysis Report by Form (Capsules/ Tablets, Powder, Drinks), Distribution Channel (Online, Offline), Region, and Segment Forecasts, 2023-2030” report has been added to  ResearchAndMarkets.com’s offering.

The latest market analysis report on the burgeoning global nootropics industry has been added to our extensive collection of industry research publications. This comprehensive analysis offers valuable insights into the market size, share, and trends of the nootropics sector, with projections spanning from 2023 until 2030.

Impressive Growth in Nootropic Formulations and Consumer Demand

The report highlights the capsule/tablet segment’s dominance in the nootropics market, accounting for a significant market share due to their convenience, precision dosing, and long shelf life. Innovative product launches, such as vegan nootropic protein bars and supplements integrating natural ingredients like Bacopa, saffron, and turmeric, are reflecting the industry’s adaptation to the rising health-conscious consumer base.

Analyzed by form, the capsule/tablet form emerged as a front-runner in the industry, with a remarkable market share of 49.2% in 2022.Distribution channels have seen a notable pivot toward the online segment, anticipated to ascend at a CAGR of 16.2% till 2030, amplified by the digital shopping wave and diverse online product offerings.North America persists as the stronghold of the global nootropics market, boasting over 41.2% share in 2022, propelled by the region’s deep-rooted wellness culture and preventive health focus.

Regional Dynamics and Consumer Behavior Tailwinds

Insights from the report illuminate the regional market dynamics, with North America spearheading the charge, fueled by the region’s escalating health and wellness vigilance. The shifts in consumer behavior toward maintaining cognitive health and preventing mental decline are significant growth impetuses for the market.

Distribution Channel Insights and Market Predominance

The report delineates the proliferation of online sales platforms vis-à-vis the nootropics market, with consumers increasingly tilting toward online purchases due to the sheer ease and diversified product options available at their fingertips. The surge in e-commerce has undeniably transformed the consumer approach to procuring health supplements, including nootropics.

The full analysis offers a granular view of the market trajectory, fortified with segment forecasts, regional market performances, and trend analysis. This exhaustive report serves as an indispensable resource for industry operatives, investors, and stakeholders aiming to navigate the complex landscape of the global nootropics market. The report, now available on our website, is poised to aid data-driven decision-making and strategy formulation for businesses in this rapidly evolving market sector.

Companies Mentioned

Onnit Labs, Inc. Reckitt Benckiser Group PLCMental Mojo, LLCNooCubeMind Lab Pro (Performance Lab Group Ltd)TruBrainNeu Mind, LLCNooflux LLCZhou NutritionKimera Koffee

For more information about this report visit https://www.researchandmarkets.com/r/wvxp8r

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SOURCE Research and Markets