February 9, 2025

The Elderly Nutrition Market driven by growing elderly population and age related diseases

The elderly nutrition market consists of dietary supplements and medical nutrition products formulated to address the nutritional needs of elderly population. With rising life expectancy and declining birth rates, the number of people aged 65 years and above is rapidly increasing globally which is driving the demand for elderly nutrition products in developed as well as developing countries. Elderly people are more prone to different types of chronic diseases such as cancer, diabetes, osteoporosis etc. which impair their nutritional absorption. Elderly nutrition products supply essential macro and micronutrients to fulfill dietary deficiencies in senior citizens. Protein supplements, vitamins & minerals, fatty acids, probiotics etc. are some key ingredients used in these products.

The Elderly Nutrition Market driven by growing elderly population and age related diseases

Market key trends:

One of the major trends in the elderly nutrition market is the shift towards functional and fortified products. Regular dietary supplements are not enough to cater the special health issues of aging population. Manufacturers are offering specialized formulations targeting conditions like bone health, brain health, joint health etc. Functional ingredients like prebiotics, probiotics, plant-based proteins, vitamins K, D are being extensively used. Manufacturers are also investing in plant-based and organic products considering intolerance issues among elderly consumers. Customized nutrition through nutrition risk screening and individualized dietary counseling is another emerging trend gaining traction. Rapid advances in nutrition research is expected to fuel development of innovative products for elderly population worldwide.

Porter’s Analysis

Threat of new entrants: The elderly nutrition market has moderate threat of new entrants due to high cost of R&D and established distribution channels of existing players.

Bargaining power of buyers: The bargaining power of buyers is moderate due to availability of substitute products from different brands. However, demand for specialized products provides some customer loyalty.

Bargaining power of suppliers: The bargaining power of suppliers is low due to availability of various raw material and ingredient suppliers in the market.

Threat of new substitutes: Threat of new substitutes is moderate as nutrition products with claimed additional health benefits can emerge as substitutes.

Competitive rivalry: The competitive rivalry is high due to presence of many global and regional players competing on the basis of product variety, quality, and price.

Key Takeaways

The global elderly nutrition market is expected to witness high growth over the forecast period. 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.

North America is expected to dominate the market during the forecast period owing to rising elderly population and increasing healthcare expenditure in the region. Europe is also estimated to witness a significant growth rate in the elderly nutrition market due to improving economic condition and rising awareness about nutrition products in countries like Germany, United Kingdom and France.

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.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it

Ravina
+ posts

Ravina Pandya,  Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. With an MBA in E-commerce, she has an expertise in SEO-optimized content that resonates with industry professionals.

Ravina Pandya

Ravina Pandya,  Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. With an MBA in E-commerce, she has an expertise in SEO-optimized content that resonates with industry professionals.

View all posts by Ravina Pandya →