Elderly Nutrition and Packaged Food Market: Global Industry Analysis and Forecast (2024-2030) by Product Type, Nutrition Type, Application, Distribution Channel, and Region

The Global Elderly Nutrition and Packaged Food Market size was valued at USD 19.67 Billion in 2023 and the total Elderly Nutrition and Packaged Food revenue is expected to grow at a CAGR of 7.8% from 2024 to 2030, reaching nearly USD 33.28 Billion.

Nutrition is essential at every stage of life. Consumption of well nutritional foods provides the sufficient energy needed for daily living activities. In addition, this is expected to be a key part of maintaining good health. For older adults, consuming a variety of nutrient-packed foods is expected to reduce the risks of developing chronic health conditions, such as osteoporosis, arthritis, obesity, high blood pressure, diabetes, heart disease, and certain types of cancer. Older adults who have difficulty preparing nutritious meals, elderly nutrition, and packaged foods give them required dietary nutrition supplements.In addition, older adults generally have lower calorie needs.

However, they have similar or even increased nutrient requirements compared to younger adults, to keep their bodies healthy. This is often due to less physical activity, changes in human metabolism, or age-related loss of bone and muscle mass. Nutrient needs in this population are also affected by chronic health conditions, the use of multiple medicines, and changes in body composition. Therefore, following a healthy dietary pattern and making every bite count is particularly important to this age group. As a result, increasing demand for nutritional foods is expected to drive the elderly nutrition and packaged food market growth.To know about the Research Methodology :- Request Free Sample Report
Elderly Nutrition and Packaged Food Market Dynamics:
Rising demand for nutritionally balanced food alternatives for adults

The rising aging population all across the world driving the need for nutritionally balanced food products thereby is expected to increase the product demand eventually driving the elderly nutrition and packaged food market growth. Old age is one of the vulnerable and prone stages in terms of health status. Aging requires a lot of awareness, motivation, and support, physically, mentally, and socially. Nutrition is essential determining factor of elderly mass specifically over the age of 60 years. Geriatric nutrition has been always underreported, though everyone wants to make the senescence easy. Adequate nutrition is important for better aging.

Due to the historic shift from high to low levels of mortality and fertility, coupled with increased longevity, or the demographic transition – the world is expected to transform from a mostly youthful population to a population with a growing share of older persons. According to the MMR analysis, by 2050, around 30 percent of the global population in industrialized countries is expected to be over 65 years. A balanced nutrient is very important for overall well-being.Changing Lifestyles and Eating Habits

A consumer’s buying behavior plays a vital role in the elderly nutrition and packaged food market growth. According to the MMR analysis, for a couple of years, consumers have been strongly inclined toward convenient food. A fast-paced, hectic lifestyle, time constraints for meal preparations, developing e-commerce, and rising disposable income, have boosted packaged food sales. Moreover, an increasing preference for convenience is expected to bolster the demand during the forecast period. Today, many elderly peoples want an active and healthy lifestyle. Thus, they widely preferred packaged food full of nutrition and convenience-oriented options. As a result, increasing active lifestyle and changing food habits has increased the demand for packaged foods, thereby driving market growth.
Elderly Nutrition and Packaged Food Market Segment Analysis:
Based on the distribution channel, the offline segment held the largest market share of over 80% and dominated the global elderly nutrition and packaged food market in 2023. The segment is expected to grow at a CAGR of 6.9% during the forecast period. The increasing number of supermarkets, hypermarkets, and specialty stores all across the world, increasing the elderly nutrition and packaged foods products demand, thereby driving the segment growth.

These types of stores offer a wide range of products including specialized alternatives for health consciousness people. A wide range of variety of products increases the consumer's interest in the product. Offline shopping allows consumers to physically experience and examine products before making a purchase. Besides that, offline purchasing provides opportunities for social interaction for elderly people. Older people enjoy the community characteristic of visiting stores, interacting with staff, and even engaging in conversations with other customers. This factor further contributes to a sense of community and companionship, which is particularly valuable for individuals who are experiencing social isolation.

The online segment is expected to grow at a significant CAGR during the forecast period. Online shopping delivers convenience and flexibility to consumers. A wide range of product portfolios, easy comparisons, customer reviews, recommendations, and discounts offered by e-commerce websites are some of the factors supporting segment growth. Online platforms further provide detailed product descriptions, product content, and nutritional information. These characteristics allow consumers to access information about ingredients, nutritional values, potential allergens, and the health benefits of specific products. As a result, these factors benefit the segment growth and drive the elderly nutrition and packaged food market growth during the forecast period.
Regional Insights:
Asia Pacific held a substantial market share in 2023. The region is expected to grow at the highest CAGR and offer lucrative growth opportunities for nutrition and packaged food manufacturers and providers during the forecast period. According to the MMR analysis, in 2023, 670 Billion people aged 60 years or older reside in Asia and the Pacific, roughly one in every seven people. By 2050, one in four people is expected to belong to this age group. Thus, the share and the number of older persons in the region is growing very fast, and, compared to other world regions, at an unprecedented pace.

Older women account for 54 percent of Asia and the Pacific’s older persons, and, given their longer life expectancy, that share increases with age. Compared with other regions of the world, population aging in Asia and the Pacific is very rapid, the result of drastic declines in fertility and mortality, and increased life expectancy. As a result, the increasing number of the elderly population is expected to increase demand for a nutritionally balanced diet, thereby increasing elderly nutrition and packaged food market growth.In addition, increasing government initiatives and policies that emphasize promoting healthy aging life and addressing the nutritional needs of the elderly people are also expected to play a significant role in driving elderly nutrition and packaged food market growth. For example, Australia introduced Commonwealth Home Support Programme (CHSP) in 2015.

The program aims to provide funding for a variety of services for older people including meal donations, nutrition counseling, social activities, etc. to promote healthy aging life and well-being of the population. Further, Japan has launched Comprehensive National Plan for Promoting Aging Society for creating an environment that supports healthy aging, including nutritional funding for older adults through initiatives such as community-based meal services and nutrition education.
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Elderly Nutrition and Packaged Food Market


Report Coverage
Details


Base Year:
2023
Forecast Period:
2024-2030


Historical Data:
2018 to 2023
Market Size in 2023:
USD 19.67 Billion


Forecast Period 2024 to 2030 CAGR:
7.8 %
Market Size in 2030:
USD 33.28 Billion


 Segments Covered:
by Product Type
1.1. Ready-to-Eat Meals
1.2. Nutritional Supplements
1.3. Snacks
1.4. Beverages
1.5. Others


by Nutrition Type
1.1. Minerals
1.2. Multi-vitamins
1.3. Fibers
1.4. Lipids
1.5. Antioxidants
1.6. Iron
1.7. Proteins
1.8. Others


by Application
1.1. Weight Management
1.2. Obesity
1.3. Diabetes
1.4. Renal Failures
1.5. Cancer
1.6. Sarcopenia
1.7. Others


by End-User
1.1. Offline
1.1.1. Retail Stores
1.1.2. Hospital pharmacy1.2. Online



Elderly Nutrition and Packaged Food Market by Region:
1. North America (United States, Canada, and Mexico)
2. Europe (UK, France, Germany, Italy, Spain, Sweden, Austria, and the Rest of Europe)
3. Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan, and the Rest of APAC)
4. Middle East and Africa (South Africa, GCC, Egypt, Nigeria, and the Rest of ME&A)
5. South America (Brazil, Argentina Rest of South America)
Key Players:
1. Otsuka Pharmaceuticals (Japan)
2. Baxter International (United States)
3. Allergan (Ireland)
4. Sanofi (France)
5. Wockhardt (India)
6. Fresenius Kabi AG (Germany)
7. Ranbaxy (India)
8. The Kraft Heinz Company (United States)
9. Sichuan Kelun Pharmaceutical Company
10. Nestlé Health Science (Switzerland)
11. Abbott Laboratories (United States)
12. Danone S.A. (France)
13. Pfizer Inc. (United States)
14. GlaxoSmithKline plc (United Kingdom)
15. Hain Celestial Group, Inc. (United States)
16. Herbalife Nutrition Ltd. (United States)
17. Kellogg Company (United States)
18. Amway Corporation (United States)
19. Medifast, Inc. (United States)

FAQs:

1. What are the growth drivers for the Elderly Nutrition and Packaged Food market?
Ans. The increasing demand for nutritionally balanced packaged foods for adults is expected to be the major driver for the market.

2. What is the major restraint for the Elderly Nutrition and Packaged Food market growth?
Ans. Stringent government regulations are expected to be the major restraining factor for the Elderly Nutrition and Packaged Food market growth.

3. Which region is expected to lead the Global Elderly Nutrition and Packaged Food market during the forecast period?
Ans. North America is expected to lead the global Elderly Nutrition and Packaged Food market during the forecast period.

4. What is the projected market size & growth rate of the Elderly Nutrition and Packaged Food Market?
Ans. The Global Market size was valued at USD 19.67 Billion in 2023 and the total Elderly Nutrition and Packaged Food revenue is expected to grow at a CAGR of 7.8% from 2024 to 2030, reaching nearly USD 33.28 Billion.

5. What segments are covered in the Elderly Nutrition and Packaged Food Market report?
Ans. The segments covered in the Elderly Nutrition and Packaged Food market report are Product Type, Nutrition Type, Application, Distribution Channel, and Region.