The 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 Overview:
Elderly nutrition refers to specially formulated nutritional products designed to meet the specific needs of senior citizens and the elderly. These include both dietary supplements as well as structured meal replacements. The products provide vitamins, minerals, fiber and other nutrients required to maintain health and prevent malnutrition in older adults. They are available in various forms including powders, gummies, capsules as well as ready-to-drink supplements.
Market Dynamics:
The elderly nutrition market is witnessing high growth owing to increasing geriatric population globally and the associated rise in age-related malnutrition. According to the United Nations, the number of people aged 60 years and above is expected to reach 2 billion by the year 2050. Furthermore, with age people tend to lose appetite and experience difficulty consuming a balanced diet. This makes them susceptible to malnutrition and nutrient deficiencies. Specialized elderly nutritional products help meet their dietary needs and supplementation requirements easily. Additionally, growing awareness about maintaining overall health and well-being through proper nutrition is also driving uptake of such supplements among the elderly.
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