Elderly Nutrition Market Growth Accelerated by Rising Geriatric...

Elderly Nutrition Market Growth Accelerated by Rising Geriatric Population

Posted 2024-01-16 07:42:58

Elderly Nutrition products such as powder supplements, soft gels and capsules help meet the daily nutritional needs of the elderly population, which is growing at an accelerated rate globally. With age, absorption and digestion of nutrients becomes difficult. Nutritional supplements help the elderly gain essential vitamins, minerals, proteins and other nutrients required to support overall health and well-being.

The global Elderly Nutrition Market is estimated to be valued at US$ 25,215.77 Bn in 2023 and is expected to exhibit a CAGR of 7.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
Rising geriatric population worldwide has been a key growth driver for the elderly nutrition market. According to the United Nations, the global population aged 60 years and older is expected to grow from 900 million in 2015 to nearly 2.1 billion by 2050. As age progresses, nutrient requirements also change. Older adults are at higher risk of deficiency and malnutrition due to reduced dietary intake, decreased nutrient absorption and altered nutrient needs. Nutritional supplements specially formulated for the elderly help meet their daily nutritional demands and promote healthy aging. This growing demand from the rising senior population base is expected to continue fueling market revenue over the forecast period.

Segment Analysis
The global elderly nutrition market is dominated by the oral nutritional supplements segment. This is because oral nutritional supplements are easy to consume compared to other formulas like powder, liquid, and medical nutrition. These supplements are available in different flavors and forms like capsules, gummies, and chewable tablets making them a preferred option among the elderly population.

Key Takeaways
The Global Elderly Nutrition Market Size is expected to witness high growth over the forecast period driven by rising health awareness among the elderly population.

Regional analysis: The Asia Pacific region is expected to witness the fastest growth in the elderly nutrition market owing to the rising elderly population, growing adoption of western lifestyles, and increasing affordability in the region. China dominates the Asia Pacific elderly nutrition market due to the rapidly aging population and economic growth.

Key players: 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 focused on new product development and launches to meet the growing demand for easy to consume and digestible nutritional solutions for elderly consumers.

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