- Several factors could contribute to 12.71% projected CAGR in nootropics global market
- Rise in demand for cognitive enhancers (smart drugs that enhance memory and focus) is expected to foster growth
- The Happy Co. has become the category creator for Happy Coffee and a recognized leader in natural nootropics
A recent Verified Market Research report noted that the global market for nootropics reached $2.42 billion in 2020 and is projected to top $6.29 million by 2028, growing at a CAGR of 12.71% from 2021 to 2028 (https://nnw.fm/DfGgg). Sharing Services Global (OTCQB: SHRG) subsidiary The Happy Co., a direct-sales opportunity that offers functional beverages, capsules, patches and creams featuring nootropics, could see significant benefit from this growth.
“The rise in demand for cognitive enhancers or smart drugs among the global population in order to enhance memory and stay focused is expected to foster the growth of the global nootropics market,” the report stated. “The rising focus of manufacturers to develop natural or organic ingredients-based supplements in order to target customers is likely to drive the market growth.”
The report went on to note that increase in demand from the sports industry for mind-boosting drugs will also impact the market. “The popularity and acceptance of nootropics as an enhancement or medication is attracting new market players in this market, which will lead to the growth of the nootropics market,” the report continued. “Increasing awareness regarding the importance of psychological wellness and accessibility of these medications at various online and offline platforms are among the key components impelling the development of the nootropics market.”
In addition, nootropics drugs, which work as antidepressants, energy boosters, and anxiety resistance, could see increased R&D efforts, the report observed. “Due to their large benefits, they are preferred by individuals, and hence this is expected to encourage R&D in the nootropics market. Newer technological innovations in the nootropics market will lead to the growth of this industry.”
One of the fastest-growing companies in the social-marketing and direct-selling industries, SHRG subsidiary The Happy Co. has become the category creator for Happy Coffee and a recognized leader in natural nootropics. The company offers a wide array of nootropic products, from oils and capsules to patches and powders. Each offering has been carefully formulated to provide the knowledge that comes from experience, which the Happy Co. is confident will prove the value and worth of its products to eager consumers everywhere.
Sharing Services Global Corporation is a publicly traded diversified company dedicated to maximizing shareholder value through the acquisition and development of innovative companies, products and technologies. The Sharing Services combined platform leverages the capabilities and expertise of various companies that market and sell products direct to the consumer. Its primary division includes Elevacity U.S. LLC, the parent company of the Happy Co. and a sales and marketing company based on utilization of independent contractors as the sales force.
For more information, visit the company’s websites at www.SHRGInc.com and www.TheHappyCo.com.
NOTE TO INVESTORS: The latest news and updates relating to SHRG are available in the company’s newsroom at http://nnw.fm/SHRG
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