by The Elderly Nutrition Market primarily deals with the production and distribution of nutritional products specially formulated to meet the health and dietary requirements of the elderly population worldwide. The market offers a wide array of nutritional supplements, medical foods, therapeutic diets, as well as snack and meal replacements to help senior citizens lead active and independent lives. The nutritional products for aging consumers are usually available in convenient pre-packaged formats with easy-to-open features and large font labeling to aid consumption.
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
Key players operating in the Elderly Nutrition Market Size are focusing on functional and accessible packaging formats using barrier materials and advanced packaging technologies to enhance product safety, quality and enhance consumer experience. For instance, Amcor Limited offers easy-open resealable packaging solutions for nutritional products aimed at seniors.
Key players operating in the Elderly Nutrition 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.
Growing demand: Rising aging population globally along with increasing health consciousness among older adults has boosted demand for specially formulated nutritional supplements and therapeutic foods for the elderly. Growing prevalence lifestyle diseases further drives the need for nutrient-rich diets and nutritional interventions for seniors.
Global expansion: Leading brands are expanding their geographical footprint by establishing manufacturing and distribution networks in emerging countries with large aging demographics like China, India and Latin American nations. Companies are also strengthening their online presence and e-commerce capabilities for direct-to-consumer delivery models.
Market key trends
The Elderly Nutrition Market Size is being influenced significantly by the trend of functional and customizable packaging tailored for senior needs. Packaging designs are increasingly incorporating ergonomic and accessibility features like large taps, braille markings and one-handed opening mechanisms to facilitate independent product access and consumption for users with limited mobility. Interactive and digital technologies are also being integrated into packaging to enhance product engagement and connectivity with older consumers.
Porter’s Analysis
Threat of new entrants: Regulations and scale of capital requirements are creating barriers to entry.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes and price comparison shopping.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to differentiation of food products and ingredients.
Threat of new substitutes: Substitute products from nutrition and diet industry are threat to elderly nutrition market.
Competitive rivalry: Market is fragmented with many global and regional players operating.
Geographically, North America holds the largest market share currently, due to rising population of elderly and increasing prevalence of chronic diseases in the region. Factors such as nutritional management for age-related medical conditions and awareness about specialized diet will continue to drive the regional market. Asia Pacific region is expected to witness fastest growth over the forecast period. Rising geriatric population, growing health consciousness, increased disposable income are some key factors supporting the market expansion in the region. Countries like China and India with huge aging demographics will create significant growth opportunities for elderly nutrition products in Asia Pacific.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
