According to the latest research reports on Nootropics, the global market for this is expected to reach more than $6 billion by 2024. Food and health companies have always ruled the market and these products are among the fast-growing markets.
Currently, more than half of all adults are taking some type of vitamins. Development and evolution of technology, modernization and the fast-pace of life mean that everyone is looking for something that will make them better, grow stronger and think faster. Nootropics are the most reliable products which are used to enhance cognitive functions including creativity, memory, and motivation.
A lot of people are finding it difficult to be happy. Bills have to be paid, work frustrations, polluted environment etc. This can cause a negative effect on health and lead to depression. However, a person can change the way they feel by using nutritious, energizing and mood enhancing nootropics. One of the companies disrupting nootropics market is Bode. The company is disrupting the nootropics market by offering unique products which support clarity; enhance mood, focus, and alertness.
Note that these products have been available in the market for decades and they are made of ingredients like caffeine and multi-vitamins which have been approved by FDA as safe dietary products. Currently, these products are repackaged and repurposed for use by individuals who want to improve their brain function including students, professionals, patients and other users.
Nootropics Market Trends
Nootropics for mood and memory enhancement are the most commonly used products. They hold the largest revenue shares in the market and this segment is anticipated to maintain its lead in the coming years. Some of the factors which have favored the growing need of nootropics products include increased awareness, easy accessibility, cost-effectiveness, numerous benefits as well as the booming supplement market. The talk regarding the use and benefits of supplements is everywhere from social media, retail outlets to fitness blogs.
In the forthcoming years, these products are expected to be used as supplements or drugs to treat diseases such as dementia, cognitive disorders that are age-related, Alzheimer’s disease, hyperactivity, Parkinson’s disease among others. The world’s population is increasingly getting depressed and a lot of people around the globe are suffering from emotional and mood disorders. However, research reports indicate that more and more people are embracing and accepting the use of mood enhancers. Although Nootropic is considered a relatively new-entrant, it is one of the top-most players in the supplement market. Its dominance is expected to peak in the coming years.