PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1517348
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1517348
The global elderly nutrition market is valued approximately at USD 12.07 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 9.32% over the forecast period 2024-2032. Elderly nutrition encompasses dietary practices and considerations specifically tailored to meet the unique physiological, metabolic, and medical needs of individuals aged 65 years and older. As aging is associated with various changes that can impact dietary requirements and food intake, focusing on nutrition is imperative for this demographic. Rising awareness of health and longevity, along with the growing prevalence of chronic diseases associated with old age, underscores the need for enhanced elderly nutrition products. Additionally, changing dietary habits and the influence of medical recommendations contribute significantly to the increased consumption of these products.
The global elderly nutrition market is experiencing robust growth due to several key factors. The increasing awareness of health and longevity, coupled with the growing prevalence of chronic diseases associated with old age, necessitates the need for enhanced elderly nutrition products. Moreover, the influence of changing dietary habits and medical recommendations significantly contributes to the consumption of these products. However, limited awareness and the high cost of elderly nutrition products may impede global sales. Additionally, ongoing research and development aimed at creating innovative products are expected to encourage the adoption of elderly nutrition products by end-users globally.
The key regions considered for the global elderly nutrition market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. In 2023, North America is the largest regional market due to advanced healthcare infrastructure, high disposable income, and a strong presence of food and healthcare companies contributing to developing personalized nutrition for the elderly. The region also benefits from leveraging technologies such as big data and AI to cater to the nutritional needs of the elderly. Europe's market is significantly supported by governmental efforts to promote healthy aging and the nutritional well-being of the elderly. The Asia-Pacific region is expected to witness the fastest growth due to its rapidly aging population and a focus on natural and holistic nutritional approaches.