The Elderly Nutrition Market comprises nutritional products such as powder, pills and drinks that are specially formulated for the nutritional needs of elderly people aged over 65 years. These products provide essential macronutrients such as protein, carbohydrates and fats along with micronutrients such as vitamins, minerals and fiber. They support healthy aging by meeting the increased nutritional needs of elderly people and reducing the risk of malnutrition and obesity. The global elderly population is growing at an unprecedented rate and chronic diseases prevalence is also rising which is increasing the demand for elderly nutritional products. The elderly nutritional products industry is predicted to witness robust growth on account of the expanding aging demography, growing health consciousness and understanding of specific nutritional needs of senior citizens.
The Global Elderly Nutrition Market is estimated to be valued at US$ 29048.57 Mn in 2024 and is expected to exhibit a CAGR of 7.1% over the forecast period 2024 to 2031. Key Takeaways The key players operating in the Elderly Nutrition Market are Amcor Limited, WestRock Company, Sonoco Products Company, Sealed Air Corporation, Stora Enso Oyj, Bemis Company, Inc., MULTIVAC, WS Packaging Group, Inc., Active Packaging Ltd., and ULMA Packaging, S.Coop. These players are focusing on expanding their production capacities and geographical footprint to cater to the surging global demand for Elderly Nutrition Market Size nutritional products. Growing demand: With the rapid aging of population globally, the number of persons aged 65 years or above is projected to double from 727 million in 2020 to 1.5 billion by 2050. This substantial growth of the elderly demographic will propel the demand for specific nutritional support products tailored for seniors. Technological advancement: Manufacturers are investing in research and development to introduce technologically advanced product formulations. For instance, development of easy-to-swallow formulations, unit dose sachets for convenience and inclusion of probiotics and prebiotics to enhance digestibility and bioavailability of nutrients. Market trends The demand for functional and fortified elderly nutrition products is rising globally. Manufacturers are developing products enriched with nutrients like omega-3 fatty acids, fibers, plant-based proteins and prebiotics/probiotics to address multiple health conditions commonly prevalent among seniors like arthritis, bone health issues, hypertension etc. Customization and personalization are emerging as key trends in the elderly nutrition market. Players are offering customized products tailored as per the metabolic and physiological needs of individuals based on parameters like gender, regional diet patterns, existing medical conditions etc. Market Opportunities The increasing focus on nutrition and active aging presents significant opportunities for players. Growing acceptance of malnutrition screening programs worldwide will help in early identification of at-risk geriatric population requiring targeted supplements. The Asia Pacific region offers lucrative growth prospects with rapid aging societies in China and India. Government initiatives promoting healthy aging in countries like Japan provide a positive environment for industry growth. Geographic expansion and acquisition of regional brands can help capture untapped opportunities. Impact of COVID-19 on Elderly Nutrition Market The COVID-19 pandemic has significantly impacted the growth of the global elderly nutrition market. During the initial months of the pandemic in 2020, the sales of elderly nutrition products declined considerably as social distancing norms were strictly imposed across various countries. Elders were advised to stay indoors and avoid going out for their usual grocery shopping to prevent virus exposure. Many elder care facilities also restricted visitors to curb infections. However, with rising awareness about maintaining good nutrition levels for improved immunity against viruses, the demand for elderly nutrition products picked up gradually from mid-2020. Manufacturers responded swiftly by ramping up production of easily consumable nutrition supplements like shakes, powder mixes, and instant meal replacements. They also focused on innovative packaging solutions like single-serve pouches for independent living of elders. Many companies established direct-to-home delivery channels in collaboration with eldercare organizations and pharmacies. Teleconsultation services by dieticians helped elders choose suitable nutrition plans during lockdowns. As vaccination drives progressed in 2021-2022, social restrictions eased and senior living communities reopened. But demand continued robustly boosted by heightened health-consciousness among aging populations worldwide. Value Concentration in North America and Europe In terms of value, the North America and Europe regions accounted for around 60% share of the global elderly nutrition market in 2024 owing to growing aging populations, well-established eldercare infrastructure, and higher consumer spending power. The US and major Western European countries like Germany, UK, France, and Italy have seen rapid rise in the number of people aged 65 years and above in recent decades. With higher life expectancy and lower fertility rates, these regions have emerged as important markets for specialized nutrition products catering to the dietary needs of seniors. Fastest Growth in Asia Pacific Region The Asia Pacific region has been witnessing the fastest growth in the elderly nutrition market over the forecast period. Factors like accelerating pace of population aging, improving healthcare access, rising incomes, and growing health awareness are driving heavy demand across emerging countries like China, Japan, South Korea, and India. China, in particular, is contributing significantly to regional market expansion owing to a massive aging population base. Get More Insights On Elderly Nutrition Market
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