The Latin America, Middle East and Africa Nootropics Market would witness market growth of 18.6% CAGR during the forecast period (2021-2027).
Modern medications like aniracetam, pramiracetam, piracetam, and cholinesterase inhibitors such as onepezil can be utilized as nootropic agents. Numerous companies are developing synthetic nootropics in form of pills, powders and drinks. Whereas, some major players are using Phyto-constituents found in many sections of plants, such as leaves, flowers, flower buds, stem bark, stem, seeds, and roots, in their products to make it more natural and appealing to the customers.
L-Theanine, an amino acid found in tea, is one of the nootropic agents that helps to increase focus and protect the brain against neurodegeneration. In addition, caffeine is another nootropic that helps to boost alertness and focus by stimulating the central nervous system. It also helps with alertness and reaction time.
The Abu Dhabi Health Authority (Haad) stated that the number of people who are in need of mental health care is underreported. In the recent years, the number of visits to the SKMC child psychiatry clinic has increased. Due to this high number of mental health issues, many experts suggest the consumption of some natural nootropics would be beneficial, which would augment its demand and growth across this region
The Brazil market dominated the LAMEA Nootropics Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $539 million by 2027. The Argentina market is showcasing a CAGR of 19.2% during (2021 - 2027). Additionally, The UAE market would grow at a CAGR of 18.3% during (2021 - 2027).
Based on Distribution Channel, the market is segmented into Offline and Online. Based on Form, the market is segmented into Capsules/Tablets, Powder, Drinks, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Nootropics Market is Predict to reach $24.6 Billion by 2027, at a CAGR of 14.7%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Mental Mojo, LLC, Onnit Labs, Inc., Peak Nootropics (Advanced Nootropics), Reckitt Benckiser Group PLC, Mind Lab Pro (Opti-Nutra, ltd.), Zhou Nutrition LLC (Nutraceutical International Corporation)TruBrain, Wolfson Holdco Limited (NooCube), NEU MIND, LLC, and Kraken Koffee, LLC.
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