The popularity of nootropic supplements is rising among consumers looking for ways to improve their cognitive function. This is driving the market growth, which is expected to expand at a CAGR of 9%. Consumers are shifting towards nutraceuticals for memory improvement and brain support, as they offer a natural and safe way to boost cognitive performance.
NEWARK, Del., Oct. 18, 2023 /PRNewswire/ -- Nootropic Supplement Market Analysis by Natural and Synthetic Type, 2023 to 2033
As per the recent research report by Future Market Insights (FMI), a research and competitive intelligence provider, the nootropic supplement market is estimated to reach US$ 4,180 million by 2033, surging at 9.0% CAGR by 2033.
The sample PDF summary is available here for an overview of the comprehensive research report.
Nootropic Supplement Demand Grows as Consumers Seek Better Brain Health
The growing popularity of consumers wanting robust brain health resulted in high demand in the nootropic supplement market. Increasing expenditure on memory supplements is another key factor driving market growth. Consumers across the globe are shifting their preferences towards supplements containing natural ingredients. This is creating lucrative growth opportunities for nootropic supplement manufacturers.
What are Nootropics and Their Benefits?
A nootropic supplement, or "smart drug," is a compound that presents high attractiveness to consumers who prefer more lasting mental activity and focus. Nootropics are used to treat diseases such as Alzheimer's since they offer numerous benefits for brain health and cognitive aptitude.
Two Formats of Nootropic Supplements: Over-the-Counter and Prescribed
Primarily, this supplement is sold to consumers through two formats. One is through over-the-counter, where an individual has access to a range of nootropic supplements that do not require any prescription from a doctor or a professional. Conversely, the prescribed format refers to the nootropic supplement that can be accessed only after getting approval from a doctor or health professional.
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