The market for brain supplements is expected to grow by US $4,020.62m in the next four years – driven largely by an ageing global population.

Thriving urban communities and a rise in the number of retail sales outlets, are also expected to help push up the compound annual growth rate (CAGR) by 8.18% between now and 2027, according to the latest industry analysis from market research company, Technavio.

But it is the world’s geriatric population, who are more prone to age-related cognitive diseases, that are expected to be the main market driver in the coming years.

In 1965 there were 129 million over-65s across the globe. Today that figure has swelled to nearly 750 million. Population ageing is now the major global demographic trend, with the number of over 65s projected to hit 1.5 billion by 2050.

For the first time in history, in 2018 the number of persons aged 65 and over outnumbered children under five years of age globally.

Increased longevity has brought with it a host of health problems, however. The longer people live the more likely they are to develop chronic illnesses like cancer, dementia, cardiovascular disease, obesity and type 2 diabetes, and to suffer from serious mobility issues.

This has led to a boom in the health supplements market in general amongst this age group. A recent government study conducted in the US found that 80.2% of both men and women aged over 60 were taking health supplements.

Amongst the most popular were brain supplements, both prescribed and purchased, to help reduce the risk of cognitive decline. Research at Oxford has found that, in normal people, the level of vitamin B12 in the blood is related to the rate at which the brain shrinks.

The brain naturally shrinks as we age, but in the study people with low to normal levels of B12 showed more rapid wastage.

The Oxford study showed that those with mild cognitive impairment benefitted from a B vitamin mixture. It was vitamin B12 that turned out to be of most benefit.

The beneficial effects 0f B vitamins on the brain were enhanced in people with good omega-3 levels, the Oxford work found.

The Technavio analysis says it is the consumption of some of the most common brain supplements, including the B vitamins, omega-3 fatty acids, ginkgo biloba, bacopa monnieri, caffeine, and acetyl-L-carnitine, among others that are driving the growth of the segment.

North America is predicted to account for 41% of the market growth between now and 2027.

The report says: “ The growth of the regional market can be attributed to various factors including the rising awareness of brain health, rapid urbanisation, and the increased availability of brain health supplements through online channels. In addition, the presence of prominent vendors and the growing geriatric population drive the brain health supplements market in North America.”

Technavio acknowledges that the market is fragmented and recognises that the low penetration in developing countries is likely to hinder growth.

The report says: “The popularity of brain health supplements in developing countries is comparatively lower than in developed countries. The low purchasing power, lower awareness, and poor distribution channels have reduced the penetration of brain health supplements. 

“However, the number of awareness programmes regarding these products is on the rise in developing countries. But the high price of these supplements restricts their adoption in such regions. All these factors reduce the growth potential of the market.”