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The nootropics market is forecasted to achieve notable growth in the coming few years with a forecast CAGR (compound annual growth rate) of more than 13%, as per The Business Research Company’s market report!

Read More On The Nootropics Market Report 2022 – https://www.thebusinessresearchcompany.com/report/nootropics-global-market-report

The Nootropics Market Size In 2022 And Forecast

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 Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. 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.

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Increase In Expenditure On Health And Wellness Is Driving The Growth Of The Nootropics Market

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.

Competitive Landscape And The Regional Analysis Of The Nootropics Market

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.

Additionally, as per TBRC’s research – North America was the largest region in the nootropics market in 2021 holding the largest market share and Asia Pacific is expected to be the fastest-growing region in the forecast period.

The Nootropics Global Market Report 2022 covers regional data on key drivers, opportunities, and strategies for the seven major regions of the world that are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the nootropics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The report includes market size and forecast market shares for all the regions and countries with respect to the major players of the nootropics market.

Adopting Vegan Nootropics – A Key Trend In The 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.

Nootropics Market Segmentation By The Business Research Company

1) By Drug Type: Prescription Nootropics, OTC Nootropics

2) By Form: Capsules or Tablets, Powder, Drinks, Other Forms

3) By Distribution Channel: Offline, Online

4) By Application: Memory Enhancement, Mood and Depression, Attention and Focus, Longevity and

Anti-aging, Sleep and Recovery, Anxiety

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Multivitamin Capsules And Tablets Global Market Report 2022

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