The global elderly nutrition market size is expected to reach USD 36,134.16 Million by 2032, exhibiting the CAGR of 6.6% during the forecast period.
The elderly nutrition market is a burgeoning sector, driven by the rising global aging population and increasing awareness of age-specific dietary needs. This market encompasses a range of products, including dietary supplements, functional foods, and specialized nutrition solutions, tailored to meet the unique health challenges faced by the elderly.
𝐆𝐞𝐭 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐨𝐟 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭:
https://www.polarismarketresearch.com/industry-analysis/elderly-nutrition-market/request-for-sample
Some of the major players operating in the global market include:
- AAK AB
- Abbott
- Ajinomoto Co., Inc.
- Danone
- DSM-Firmenich AG
- GlaxoSmithKline plc (GSK)
- Nestle
- Otsuka Holdings Co., Ltd.
- Pfizer Inc.
- The Vitamin Company India
Market’s Growth Drivers
Aging Population Worldwide
One of the primary drivers of the elderly nutrition market is the rapidly growing elderly demographic. According to the United Nations, the population aged 60 years and above is expected to double by 2050, reaching over 2 billion. This shift necessitates enhanced nutritional solutions to address age-related health concerns such as weakened immunity, bone density loss, and chronic diseases.
Rising Health Awareness
Elderly individuals and their caregivers are increasingly prioritizing preventive healthcare. Awareness campaigns and educational initiatives have highlighted the importance of nutrition in promoting healthy aging, thereby boosting demand for specialized nutrition products.
Advances in Nutritional Science
Technological advancements in food science have enabled the development of innovative products tailored to the elderly’s specific needs. Enhanced bioavailability of nutrients, functional ingredients, and personalized nutrition solutions are gaining traction, fueling market growth.
Supportive Government Policies
Governments across the globe are implementing policies to support elderly care. Subsidies for nutritional supplements and programs promoting healthy aging contribute to the market’s expansion.
𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐥 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:
The research study includes segmental analysis that divides the market into distinct groups or segments based on common characteristics. With market segmentation, businesses can identify specific customer groups that are more likely to be interested in specific products or services. Also, it enables these businesses to focus their marketing efforts and resources more efficiently, leading to higher conversion rates and improved return on investment.
Elderly Nutrition Market, Nutrition Type Type Outlook (Revenue, USD Billion, 2019-2032)
- Protein
- Minerals
- Multi-vitamins
- Fibers
- Lipids
- Antioxidants
- Iron
- Others
Elderly Nutrition Market, Application Outlook (Revenue, USD Billion, 2019-2032)
- Obesity
- Diabetes
- Renal Failures
- Cancer
- Sarcopenia
- Cognitive Decline
- Physical Frailty
- Others
Elderly Nutrition Market, Patient Ages Outlook (Revenue, USD Billion, 2019-2032)
- Below 60
- 60-64
- 65-74
- 75-84
- Above 85
Elderly Nutrition Market, Prescription Outlook (Revenue, USD Billion, 2019-2032)
- Prescribed Nutrition
- Non-Prescribed Nutrition
Elderly Nutrition Market, Distribution Channel Outlook (Revenue, USD Billion, 2019-2032)
- Retail Medicine Store
- Hospital pharmacy
- Online
Key Trends in the Elderly Nutrition Market
Demand for Functional Foods
Functional foods, enriched with probiotics, omega-3 fatty acids, and antioxidants, are increasingly popular among the elderly for their health benefits, including improved digestion, heart health, and cognitive function.
Growth of Plant-Based Nutrition
The plant-based trend has permeated the elderly nutrition market, with a rising demand for plant-derived proteins and supplements. These products appeal to health-conscious consumers and those with dietary restrictions.
Focus on Personalized Nutrition
Personalized nutrition solutions, powered by genetic and microbiome analysis, are emerging as a key trend. These tailored approaches address individual dietary needs and enhance overall health outcomes.
Sustainability and Clean Label Products
Consumers are increasingly favoring products with transparent labeling, minimal additives, and sustainable sourcing. This trend reflects broader environmental and health-conscious preferences.
Research Scope
The scope of research in the elderly nutrition market spans across various dimensions:
Product Development
Innovative formulations targeting specific health issues, such as joint health, memory support, and immunity, are areas of active research.
Market Segmentation
Studies on demographic-specific preferences, regional trends, and purchasing behavior provide valuable insights for market players.
Emerging Markets
Research into developing markets, particularly in Asia-Pacific and Latin America, reveals untapped opportunities for growth.
Impact of Technology
Exploring the role of AI and big data in personalizing nutrition solutions is another critical area of research.
Future Outlook
The elderly nutrition market is poised for robust growth in the coming years, driven by continued innovation, rising demand for health-centric products, and expanding healthcare infrastructure. Key players are likely to invest heavily in research and development to cater to the evolving needs of the elderly population.
Furthermore, collaborations between nutrition companies, healthcare providers, and policymakers will play a pivotal role in shaping the market’s trajectory. Sustainability and ethical considerations will also remain central to future developments, ensuring that the market grows responsibly.
Recent Developments in the Nutrition Industry
November 2023:
Nestlé launched N3 milk, a product designed to support healthy aging, initially introduced in China. Recognizing the evolving nutritional needs of individuals as they age, the N3 range features two products enriched with vitamins, minerals, and probiotics to promote health and vitality.
March 2024:
Danone India unveiled its adult nutrition range, introducing zero-added-sugar versions of Protinex in Tasty Chocolate and Vanilla Delight flavors. These offerings cater to the growing demand for healthier, low-sugar nutritional supplements.
September 2023:
Danone announced a €50 million expansion of its Opole production facility in Poland. This investment aims to enhance the company’s medical nutrition capabilities to better serve patients worldwide and drive growth in the adult medical nutrition market.
September 2021:
Abbott established the Abbott Center for Malnutrition Solutions, a global hub in partnership with nutrition experts. The center is dedicated to combating malnutrition in vulnerable populations, including mothers, infants, aging adults, and communities with limited access to adequate nutrition.
These developments underscore the industry’s commitment to addressing diverse nutritional needs and advancing innovations in health and wellness.
The Elderly Nutrition Market has emerged as a crucial segment within the broader health and wellness industry, catering to the specific dietary needs and challenges faced by aging populations worldwide. With advancements in healthcare and increased life expectancy, the Elderly Nutrition Market has witnessed significant growth in recent years. This growth is primarily driven by several key factors.