Nootropics Market Will Generate Record Revenue by 2031

The global nootropics market is anticipated to grow at a CAGR of 14.1% during the forecast period (2024-2031). New and effective product launches is anticipated to drive the demand for nootropics, thereby is driving the market growth. For instance, in March 2023, Beverage label Savvy launched a nootropic-infused beverage range designed to optimize cognitive performance. The beverage range is available in two variants: Savvy Coffee and Savvy Drink. Savvy Coffee comes in coffee pods and coffee powder, both with biodegradable compostable packaging. 

Further, in October 2022, Southern California-based nootropics brand Troomy launched its product line of adaptogenic mushroom gummies. Formulated to help support a wide range of lifestyles and functional needs, Troomy Mushroom Gummies are available in a variety of super-powered mushroom blends and flavours. For focus, the company offers Lion's Mane Mushroom Gummies (Tangerine Passionfruit). For Boost, the company offers Cordyceps Mushroom Gummies (Lemon Lime); For Calmness, the company offers Reishi Mushroom Gummies (Pineapple Peach); For effective sleep, the company offers Reishi + Melatonin Gummies (Black Raspberry)

Furthermore, in August 2022, Snack brand Mindright has launched: a “first-of-its-kind” range of popped chips infused with brain-boosting nootropic ingredients. The latest range comes in three flavours – Chili Lime, Cinnamon Churro and Tumeric Ranch. The popped chips are made using the brand’s signature nootropic concoction, which features ginseng, lion’s mane and L-Theanine, as well as vitamins B6, B12 and antioxidants that benefit energy, mood and focus. The chips are made with 100% avocado oil, in place of traditional oils such as canola and soybean.

In May 2022, Solaray announced the launch of Solaray SharpMind: a collection of advanced nootropics expertly crafted with clinically backed nutrients, adaptogens and fermented organic mushrooms designed to support mental and emotional well-being. Five unique formula includes stress, energy, focus, mood, and sleep — offer targeted support for specific cognitive requirements.

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Market Coverage

•                 The market number available for – 2023-2031

•                 Base year- 2023

•                 Forecast period- 2024-2031

Segment Covered- 

·                  By Form

·                  By Distribution Channel

Regions Covered-

·                  North America

·                  Europe

·                  Asia-Pacific

·                  Rest of the World

•                 Competitive Landscape- including Pfizer Inc., GlaxoSmithKline plc, Novartis AG, Mylan N.V., and Teva Pharmaceutical Industries Ltd. among others.

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Nootropics Market Report Segment

By Form

•                 Capsules/Tablets

•                 Powder

•                 Drinks 

By Distribution Channel

•                 Online

•                 Offline

Nootropics Market Report Segment by Region

North America                                                                                                           

·        United States

·        Canada                     

Europe

·        UK

·        Germany

·        Spain

·        France

·        Italy

·        Rest of Europe

Asia-Pacific

·                  India

·                  China

·                  Japan              

·                  South Korea

·                  Rest of APAC

Rest of the World

•       Latin America

•       Middle East and Africa 

Company Profiles

•                 AstraZeneca Plc

•                 Cephalon A/S 

•                 GlaxoSmithKline plc 

•                 Johnson & Johnson Private Ltd.

•                 Kimera Koffee

•                 Koios Beverage Corp

•                 Mental Mojo, LLC 

•                 Mylan N.V. 

•                 Novartis AG 

•                 Onnit Labs, Inc. 

•                 Opti-Nutra Ltd. 

•                 Pfizer Inc. 

•                 Reckitt Benckiser Group PLC 

•                 Reckitt Benckiser Group plc

•                 Sanofi SA

•                 Savvy Beverage 

•                 Teva Pharmaceutical Industries Ltd. 

•                 TruBrain Inc.

•                 Wolfson Brands (Noocube)

•                 Zhou Nutrition LLC 

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