Latin America Nootropics Market Size & Outlook, 2021-2030
Latin America nootropics market, 2018-2030 (US$M)
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Latin America nootropics market highlights
- The Latin America nootropics market generated a revenue of USD 175.1 million in 2021.
- The market is expected to grow at a CAGR of 13.8% from 2022 to 2030.
- In terms of segment, capsules/tablets was the largest revenue generating form in 2021.
- Drinks is the most lucrative form segment registering the fastest growth during the forecast period.
- Country-wise, Brazil is expected to register the highest CAGR from 2022 to 2030.
Latin America data book summary
| Market revenue in 2021 | USD 175.1 million |
| Market revenue in 2030 | USD 560.8 million |
| Growth rate | 13.8% (CAGR from 2021 to 2030) |
| Largest segment | Capsules/tablets |
| Fastest growing segment | Drinks |
| Historical data covered | 2018 - 2020 |
| Base year for estimation | 2021 |
| Forecast period covered | 2022 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Capsules/Tablets, Powder, Drinks |
| Key market players worldwide | Reckitt Benckiser Group PLC, Mental Mojo, Noocube, Mind Lab, truBrain, Nooflux, Zhou Nutrition, Kimera Koffee |
Other key industry trends
- In terms of revenue, Latin America region accounted for 5.3% of the global nootropics market in 2021.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 3,460.0 million by 2030.
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Nootropics Market Scope
Nootropics Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Latin America nootropics market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to nootropics market will help companies and investors design strategic landscapes.
Capsules/tablets was the largest segment with a revenue share of 52.37% in 2021. Horizon Databook has segmented the Latin America nootropics market based on capsules/tablets, powder, drinks covering the revenue growth of each sub-segment from 2018 to 2030.
According to UNICEF, in 2021, Latin American and Caribbean countries spent almost USD 30 billion on the treatment of mental health disorders. The growing occurrence of mental and neurological disorders in this region is driving the market.
Depression and anxiety are the most prevalent mental diseases in Central & South America. This rising issue is expected to impact the market positively over the forecast period. In recent years, consumers in the region have favored natural nootropics over other ingredients.
Global firms manufacture natural pharmaceuticals in collaboration with local companies. This trend is expected to generate opportunities to develop naturally derived nootropic products.
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Our clientele includes a mix of nootropics market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America nootropics market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America nootropics market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America nootropics market size, by country, 2018-2030 (US$M)
Latin America Nootropics Market Outlook Share, 2021 & 2030 (US$M)
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