Yahoo Finance Nootropics Global Market Report 2022
Major players in the nootropics market are Accelerated Intelligence Inc. , AlternaScript, HVMN, Mental Mojo LLC, Peak Nootropics, PureLife Bioscience Co. Ltd. , Blue Brain Boost, NooCube, Mind Lab Pro, TruBrain, Neu Drinks, Superior Supplement Manufacturing, Equinox Nutraceuticals, and Natural Stacks.
New York, July 04, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Nootropics Global Market Report 2022" - https://www.reportlinker.com/p06290051/?utm_source=GNW
The global nootropics market is expected to grow from $3.36 billion in 2021 to $3.95 billion in 2022 at a compound annual growth rate (CAGR) of 17.5%. The nootropics market is expected to grow to $6.61 billion in 2026 at a CAGR of 13.7%.
The nootropics market consists of sales of nootropic solutions and services by entities (organizations, sole traders, and partnerships) that help to boost brain performance.Nootropics refer to memory-enhancing substances which having a stimulation effect.
The nootropics include caffeine, creatine, vitamins, and minerals, which are used to increase memory, strength, or other cognitive functions. They may have some effects on memory, thinking, or other mental functions but do not treat the diseases.
The main types of drugs in nootropics are prescription nootropics and OTC nootropics.The prescription nootropics help to provide stimulant effects, counteracting the symptoms of medical conditions such as attention deficit hyperactivity disorder (ADHD), Alzheimer’s disease, or narcolepsy.
The various forms include capsules or tablets, powder, drinks, and others, and are distributed through several channels such as online, and offline. The nootropics are used in memory enhancement, mood, and depression, attention and focus, longevity and anti-aging, sleep and recovery, and anxiety.
North America was the largest region in the nootropics market in 2021.Asia Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the nootropics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The nootropics market research report is one of a series of new reports that provides nootropics market statistics, including nootropics industry global market size, regional shares, competitors with a nootropics market share, detailed nootropics market segments, market trends and opportunities, and any further data you may need to thrive in the nootropics industry. This nootropics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The increasing expenditure on health and wellness is expected to propel the growth of the nootropics market going forward.Health and wellness are generally defined as a method that an individual respects to reach mental health and physical wellbeing.
Mental and physical health involves diving deep into the health and wellness industry.Nootropics are useful in maintaining an individual’s health and wellness, as a result, if the demand for healthcare and wellness is increasing, so will the need for nootropics.
For instance, according to Global Wellness Institute, a US-based non-profit organization, the global mental wellness market was valued at $122 billion in 2019 and grew by 7.2%, reaching $131 billion in 2020. Therefore, the increasing expenditure on healthcare and wellness drives the nootropics market.
The adoption of vegan nootropics is gaining popularity in the global nootropics market.Major companies operating in the nootropics market are going to new organic product innovations to meet consumer demand and sustain their position in the market.
For instance, in April 2019, Gaia Herbs, a US-based company that manufactures pharmaceuticals and nootropics launched a new line of 3 new vegan nootropics supplements known as bacopa, agile mind, and nootropic which are focused, to support mental performance. This product is a combination of science and tradition that create proprietary blends.
In April 2021, Unilever Global, a UK-based company that manufactures nootropics acquired Onnit for an undisclosed amount. Through this acquisition, Onnit entirely sets Unilever in an increasing portfolio of advanced wellness and supplement brands that include olly, equilibria, liquid I.V., and SmartyPants Vitamins. Onnit is a US-based company operating in nootropics and a specialist in functional nutrition, fitness, mental, and emotional wellness needs.
The countries covered in the nootropics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Read the full report: https://www.reportlinker.com/p06290051/?utm_source=GNW
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