New York, May 07, 2024 (GLOBE NEWSWIRE) -- Market Overview:
The Global Elderly Nutrition Market, which was valued at USD 17.40 billion in 2021, is poised for significant growth. It is anticipated to generate an estimated revenue of USD 30.64 billion by 2030, with a promising CAGR of 6.5% from 2022 to 2030. This projected growth presents a lucrative opportunity for investors, signaling a robust and sustainable market trend.
The term elderly nutrition market describes eating habits and factors that are specific to the physiological, metabolic, and health requirements of those 65 years of age and above. For this group of people, nutrition is especially important because aging is linked to several changes that can affect food consumption and nutritional needs. Eating a range of nutrient-dense meals is predicted to lower the chances of acquiring chronic illnesses in older persons, including high blood pressure, diabetes, heart disease, osteoporosis, arthritis, obesity, and several types of cancer. As a result, the elderly nutrition market demand is expanding.
Furthermore, older persons typically require fewer calories. Elderly nutrition products consist of vitamins, minerals, proteins, fibers, lipids, and other necessary nutrients that control the body's functions and enhance immunity.
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Key Market Players:
- Otsuka Pharmaceuticals
- Allergan
- Baxter International
- Danone
- Pfizer, Sanofi
- Abbott Laboratories
- GlaxoSmithKline
- Fresenius Kabi
- Ranbaxy
- Wockhardt
- WOCKHARDT
- Sichuan Kelun Pharmaceutical
- Nestle
- Kraft Heinz
Elderly Nutrition Market Scope:
| Report Attributes | Details |
| Market value in 2022 | USD 18.47 billion |
| Market value in 2030 | USD 30.64 million |
| CAGR | 6.5% from 2022 – 2030 |
| Base year | 2021 |
| Historical data | 2018-2020 |
| Forecast period | 2022-2030 |
Key Takeaways from the Report:
- The aging population, increased knowledge of the value of nutrition for good aging, and the rising incidence of chronic illnesses in the senior population are the main drivers of the market.
- The elderly nutrition market segmentation is mainly based on the distribution channel, application, nutrition type, and region.
- North America is anticipated to witness significant growth during the forecast period.
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Market Dynamics:
Growth Drivers:
- The aging population is growing at an exponential rate and is more vulnerable to numerous chronic illnesses as a result of low dietary nutrient consumption. This is expected to support the market expansion for senior nutrition throughout the estimated period.
- Obesity, cancer, diabetes, osteoporosis, cardiovascular disease, and dental issues are among the chronic diseases that are becoming more prevalent. By following medical advice, receiving the necessary care, maintaining a healthy diet, and engaging in regular exercise, these diseases can be prevented.
Trends:
- An increase in market makers' R&D expenditures to create new materials for dietary intake is also expected to help the market for nutrition for the elderly.
Challenges:
- The elderly nutrition market growth is expected to be constrained throughout the forecast period by issues such as a lack of funding and risks associated with parenteral geriatric nutrition therapy, like liver dysfunction and refeeding syndrome.
Regional Analysis:
North America's growing prevalence of chronic lung disease is expected to keep it at the top of the global elderly nutrition market over the forecast period. Furthermore, the advancements in advanced therapy in North America are driving growth in the geriatric nutrition market.
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Market Segmentation:
By Nutrition Type Outlook:
- Minerals
- Multi-vitamins
- Fibers
- Lipids
- Antioxidants
- Iron
- Proteins
- Others
By Application Outlook:
- Obesity
- Diabetes
- Renal Failures
- Cancer
- Sarcopenia
- Others
By Distribution Channel Outlook:
- Retail Medicine Store
- Hospital pharmacy
- Online
By Region Outlook:
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
- Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
- Latin America (Brazil, Mexico, Argentina)
- Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
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