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| Elderly NutritionMarket |
The Elderly Nutrition Market consists of food and beverage products that are specially formulated to address the nutritional needs of the elderly population. Key products in this segment include milk and dairy-based beverages, juice, soups, porridge and meal replacement drinks. The increasing aging population globally has driven a rise in age-related health issues like osteoporosis, diabetes and obesity among others. This has catalyzed demand for healthy and nutritious foods that help the elderly population meet their daily nutrition requirements and stay active.
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 opportunities in the Elderly
Nutrition Market Size include development of functional and
easy-to-consume products like nutrition bars and shakes. These products help
address challenges with poor appetite and difficulty in chewing and swallowing
faced by many elderly individuals. Manufacturers are also developing
personalized nutrition recommendations and digital tools to assist elderly
consumers in meeting their daily requirements.
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 dominate the market with their extensive
product portfolio and global manufacturing and distribution network.
Globally, the market continues to witness strong growth with increasing focus
on preventive healthcare. Major players are expanding to high growth regions
like Asia Pacific and Latin America through partnerships, mergers and
acquisitions. This allows them to tap into the fast growing aging demographics
in developing economies and establish an early mover advantage.
Market Drivers
Growing elderly population: According to WHO, the number of people aged 65
years and above is projected to reach 1.5 billion by 2050 from 703 million in
2019. This vast aging demography is the key driver behind growing demand for
elderly nutrition products.
Focus on preventive care: With lifestyle diseases affecting quality of life in
old age, there is greater focus on addressing the daily nutritional needs of
elderly through customized diets and supplements. This drives uptake of
specialized elderly nutrition products.
Market Restraints
High prices: Specialized formulations and functional ingredients used in
elderly nutrition products make them relatively expensive compared to
mass-market foods. This impacts volume uptake, especially in price-sensitive
developing markets.
Poor taste perception: Flavor masking techniques used to formulate nutrients
into less volumes often compromise taste, leading to reluctance in product
adoption. Companies must focus on taste to increase acceptability.
Segment Analysis
The elderly nutrition market is dominated by the oral nutritional supplements
segment. Oral nutritional supplements such as powder, liquid, and mousse
accounted for more than 50% of the overall market share in 2024. The demand for
oral supplements is high among the elderly population as they are easy to
consume and provide complete balanced nutrition. Oral supplements help to
improve nutritional intake among seniors with chewing and swallowing difficulties.
Next, the medical food segment also captured a major market share in 2024.
Medical food products specially formulated to address nutritional shortfalls
related to specific diseases and health conditions. They play an important role
in managing chronic diseases like diabetes, cancer, etc. common among the
elderly. These medical food products are available in both liquid and powder
forms and are mainly prescribed by doctors for patients recovering from
illness, injury, or surgery. Their demand is expected to rise significantly
during the forecast period.
Global Analysis
The North America region dominated the global elderly nutrition market in 2024
with a share of over 35%. The presence of a large elderly population base and
increasing prevalence of chronic diseases in the United States and Canada are
key factors driving the regional market. Moreover, high healthcare spending and
availability of advanced elderly nutrition products have boosted the North
American elderly nutrition industry.
Asia Pacific is projected to witness the fastest growth during the forecast
period of 2024-2031. This can be attributed to the rising geriatric population,
growing health awareness, and improving healthcare infrastructure in highly
populated countries like China and India. China currently has the largest
elderly population globally and is expected to contribute to the Asia Pacific
market growth.
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Nutrition Market
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