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How big is the global nootropics market?
Hello! Thanks for your question on the global nootropics market value.
OVERVIEW
The short version is that the global market for cognitive health supplements (nootropics) in 2015 reached the value of $2.7 billion. The market value in 2015 is larger by 48.1%, or $1.4 billion, compared to 2012.
MARKET VALUE AND GROWTH
Nootropics, a substance that improves the cognitive function, is a booming business. To come up with reliable data on the market value, I relied on the reports and analysis from the renowned market research agency Euromonitor International.
Before I proceed to the market value data analysis, please note that the Euromonitor International uses terms such as "memory health supplements" or "mood-relaxation supplements" as a term for nootropics, or the cognitive-enhancing supplements in general.
Having in mind that the market for the memory health supplements in 2013 experienced the growth rate of 11%, I calculated the conservative market value since 2012, as well as the future projection:
2014 - $1.7 billion (calculation based on 11 percent growth)
2016 - $2.9 billion (calculation based on 11 percent growth)
2017 - $3.3 billion (calculation based on 11 percent growth)
The market value in 2015 is larger by 48.1%, or $1.4 billion, compared to 2012 and it is clear that the market growth rate is rapidly increasing well above 11% in 2013.
POPULAR PRODUCTS
Within the market value explained above, a report (paywall) by the Transparency Market Research pointed out that the most used noontropic products in 2014 were:
1. Noopept
2. Pramiracetam
3. Modafinil
4. Adrafinil
5. Aniracetam
6. Phenylpiracetam
Despite the growth of sales revenue, nootropics are facing obstacles in the form of regulatory hurdles. Companies working in this field can expect more regulations by the governments around the world.
SUMMARY
To conclude, the global market for cognitive health supplements (nootropics) in 2015 reached the value of $2.7 billion. The market value in 2015 is larger by 48.1%, or $1.4 billion, compared to 2012. Market research agencies project further growth, but the industry might face increased regulatory pressure.
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