Elderly nutrition products provide essential vitamins, minerals, proteins, and other nutrients to the elderly population. Products such as parental nutrition, oral nutritional supplements, and medical foods help meet the nutritional requirements of aged individuals suffering from health issues like dysphagia, malnutrition, diabetes, and chronic diseases.
The global Elderly Nutrition Market is estimated to be valued at US$ 25215.77 Bn in 2023 and is expected to exhibit a CAGR of 6.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing prevalence of age-related health issues is one of the key trends accentuating the growth of the elderly nutrition market. Factors such as the rising geriatric population, growing incidence of chronic diseases, and increasing healthcare costs associated with malnutrition and disability in the aged group are fueling the need for effective and nutritious elderly care products. According to studies, about 60-80% of the elderly population suffer from at least one chronic disease that increases the risk of malnutrition. Elderly nutrition helps manage health issues, reduces disease severity, and improves quality of life. The market is thus witnessing higher adoption of nutritional supplements, tube feeding formulas, and disease-specific products to meet the unique requirements of the elderly.
Segment Analysis
The global elderly nutrition market is segmented by product, application, and distribution channel. The nutritional supplements segment dominates the market. Nutritional supplements provide additional nutrition to the elderly population who may lack certain nutrients due to physiological changes. The ease of use and consumption of nutritional supplements makes them a preferred option among elderly individuals.
Key Takeaways
The global elderly nutrition market is expected to witness high growth. The global Elderly Nutrition Market is estimated to be valued at US$ 25215.77 Bn in 2023 and is expected to exhibit a CAGR of 6.7% over the forecast period 2023 to 2030
Regional analysis:
The Asia Pacific region is projected to witness the highest growth during the forecast period. Major factors driving the market growth include the increasing geriatric population, rising healthcare costs, advancements in nutrient formulations for elderly individuals, and growing awareness. China and India have the largest elderly population in this region making it a highly lucrative market.
Key players:
Key players operating in the elderly nutrition market are Otsuka Pharmaceuticals Co., Ltd., Baxter International Inc., Allergan, Danone, Abbott Laboratories, Pfizer, Inc., Mead Johnson & Company, LLC., Sanofi, Nestlé€TMs, GlaxoSmithKline, Fresenius Kabi AG, Ranbaxy, WOCKHARDT, The Kraft Heinz Company, and Sichuan Kelun Pharmaceutical Company Limited.
Explore more trending article on this topic:
https://www.newsstatix.com/the-elderly-nutrition-market-driven-by-growing-elderly-population-and-age-related-diseases/
