Elderly Nutrition Market Synopsis:
Elderly Nutrition Market Size Was Valued at USD 19.7 Billion in 2023, and is Projected to Reach USD 34.7 Billion by 2032, Growing at a CAGR of 6.5% From 2024-2032.
It defines the elderly nutrition market as the area focusing on the relevant nutrients and dietary products required by the elderly. Over the years, people develop a variety of problems related to metabolism, which lead to thinning of bones, heart diseases, and muscle atrophy. This market comprises of vitamin products, protein products, and diet supplementary products among others which are developed with the intention of providing nutritional needs of elderly people. The main goal of elderly nutrition is to maintain a healthy aging process, enhance public health and reduce the development of malnutrition among elderly people.
The global opportunity for elderly nutrition market is growing rapidly owing to the estimated global population of elderly people. For this reason, with increased focus placed on geriatric nutrition expectations for improved functionality have arisen, increasing sales of specialized products. Since the elderly are keen on retaining mobility and minimizing diseases associated with old age, the elderly nutrition market should grow. The market also enjoys gains from improvements in medicine such as present day innovations in health which have increased life spans hence create a larger market for products of nutrition specific to old folks. Moreover, programs and initiatives by global governments and healthcare organizations encourage healthy meals for elderly people to fuel the market progressively.
In addition, the growing rate of diseases like diabetes, heart illness, and osteoporosis amongst the elderly is boosting the requirement for specialized nutritional products. The COVID-19 pandemic exacerbated the concerns related to the adverse impacts of various health issues on the ageing population, and appropriate means for the prevention of those consequences were sought, including adequate nutrition. There is also increasing demand for plant sourced supplements and natural products due to the clean foods production trend. Generic growth is expected in the elderly nutrition market as many healthcare providers as well as caregivers stress individual nutritional requirements to fight health issues.
Elderly Nutrition Market Trend Analysis:
Rising Demand for Protein-Based Nutrition in Elderly Care
- An emerging trend observed in the elderly nutrition market is growing popularity in dietary proteins. They also identified protein as a nutrient that is responsible for providing muscles, strength and the capabilities of people when they grow old. Earlier they are paying attention towards high protein diets as they realize the bitter ends of sarcopenia – the age induced loss of muscle mass and strength. For this reason, most nutrition companies are currently coming up with protein supplements, shakes and food products mainly market for elderly consumers. Many of these products can contain, for example, whey and plant proteins that are easy on the digestive system, which is a common problem in older citizens. This trend is expected to progresses because of the importance given to healthy aging and the indicator of protein that can enable the elderly to perform activities of daily living.
Technological Advancements in Personalized Nutrition
- The elderly nutrition market has great potential and has become one of the most promising markets because of the appearance of personalized nutrition. Currently, with the help of the new technologies in molecular biology and artificial intelligence in healthcare, nutrition plans can be created that are suitable for each client following his elder needs. These plans take into account diseases, family history and other additional parameters to provide individual diets. These factors make this trend a ripe possibility of growth for market players to invest more in personalized nutrition technologies and services. Similarly, the adoption of telemedicine and health monitor device also enable elderly to monitor their nutrition and health in real-time also strengthens the market for personalized elderly nutrition products. Thus, only the companies which can use these technological innovations will definitely have an added edge in the market.
Elderly Nutrition Market Segment Analysis:
Elderly Nutrition Market is Segmented on the basis of Nutrition Type, application, and Region
By Nutrition Type, Protein segment is expected to dominate the market during the forecast period
- It has been forecasted that protein segment dominates the elderly nutrition market throughout the forecast period owing to increasing awareness about protein requirement for muscle strength and other healthy muscles in the elder population. Since the senior citizens are vulnerable to sarcopenia and muscle wastage; protein contents have emerged as an important nutrient in the elderly. Protein from dairy like whey and casein and from plant sources are now commonly used in shakes, powders, and as supplements to daily foods. This increased demand is further spurred by recent healthcare professional and dietitian recommendations of higher protein intakes for older persons in need of recovery from sickness, desiring to remain mobile and free from falls. The overall market leadership is likely to remain within the protein segment as studies increase evidence that it plays a vital role in the aging process.
By Application, Cancer segment expected to held the largest share
- The cancer segment is expected to dominate the elderly nutrition market because of the high nutritional requirements that are often required by patients with cancer who are receiving chemotherapy among others. Many chemotherapeutic agents and radiotherapeutic techniques cause substantial weight loss, malnutrition, cachexia in elderly cancer patients. It has thus led to increasing demand for nutrition support as a means of enhancing the patients’ condition and prognosis whilst on therapy. The extended care products targeting elder cancer patients in particular nutritional supplements, calorie rich and immune system enhancing nutrients for the patients are being turning popular among the hospital and home care administrations. When using Geraci’s value proposition of the described market, one notices its key segments: the cancer patient population remains on the rise, especially among the elderly, maintaining the dominance of the nutrition solutions segment.
Elderly Nutrition Market Regional Insights:
North America is Expected to Dominate the Market Over the Forecast period
- Combined with aging populations, higher healthcare expenditure and awareness towards quality diet of elderly nutrition North America is expected to hold largest market size in 2023. The region especially the United States has adequate developed primary health care provision for support of the elderly through nutritional policies as well as programs. Furthermore, there is a high disposable income which enables the consumer to buy superior nutrition product for the senior citizens. It is also confirmed that North American market consumes about one third to forty percent of the world’s elderly nutrition, so it has a rather competitive position in the world market. The region also harbors a few key player in the elderly nutrition market which significantly buttress the region’s dominance.
Active Key Players in the Elderly Nutrition Market:
- Abbott Laboratories (USA)
- Amway (USA)
- B. Braun Melsungen AG (Germany)
- Baxter International Inc. (USA)
- Danone S.A. (France)
- DSM (Netherlands)
- Fresenius Kabi (Germany)
- GlaxoSmithKline (UK)
- Herbalife Nutrition (USA)
- Mead Johnson & Company (USA)
- Nestlé S.A. (Switzerland)
- Nutricia (Netherlands)
- Otsuka Pharmaceutical Co., Ltd. (Japan)
- Pfizer Inc. (USA)
- Reckitt Benckiser Group (UK)
- Other Active Players
|
Elderly Nutrition Market |
|||
|
Base Year: |
2023 |
Forecast Period: |
2024-2032 |
|
Historical Data: |
2017 to 2023 |
Market Size in 2023: |
USD 19.7 Billion |
|
Forecast Period 2024-32 CAGR: |
6.5% |
Market Size in 2032: |
USD 34.7 Billion |
|
Segments Covered: |
By Nutrition Type |
|
|
|
By Application |
|
||
|
By Region |
|
||
|
Key Market Drivers: |
|
||
|
Key Market Restraints: |
|
||
|
Key Opportunities: |
|
||
|
Companies Covered in the report: |
|
||
Frequently Asked Questions :
The forecast period in the Elderly Nutrition Market research report is 2024-2032.
