Global Elderly Nutrition Market, by Nutrition Type (Minerals, Multi-Vitamins, Iron, Proteins, Fibers, Lipids, Antioxidants, and Others), by Application (Diabetes, Renal Failures, Obesity, Sarcopenia, Cancer, and Others), by Route of Administration (Oral, Parenteral, and Enteral), by Distribution Channel (Hospitals & Clinics, Retail Pharmacies, Convenience Store, Online, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 23,632.4 Million in 2022 and is projected to exhibit a CAGR of 6.7% over the forecast period (2022– 2030).
Increasing launches of nutritional products for the elderly age group by market players boosts the market growth. Key players in market are focused on new launches of products in order to develop novel nutritional products to address the critical unmet needs of nutrition in elders. For instance in July 2021, Nestle, a multinational food and drink processing company, announced the launch of health care products in China with Logo of Blue Hat, a communication services and internet data company, for middle-aged and elderly people. It contains calcium ammonia sugar milk powder and probiotic protein powder, focusing on increasing bone density and enhancing immunity respectively.
Moreover, in December 2021, Lactalis Ingredients, a global producer and manufacturer of whey and milk ingredients, launched high-protein concepts for sports nutrition and healthy aging which contains a blend of two native protein sources: the Pronativ native micellar casein and Pronativ native whey protein which helps to build immunity in elderly patients with low lactose content, making it an option for lactose-sensitive individuals.
Global Elderly Nutrition Market– Impact of Coronavirus (COVID-19) Pandemic
The coronavirus or COVID-19 outbreak started in Wuhan, China in 2019 and has spread across all the continents of the world, affecting various industries globally. The economy in countries all over the world such as India, Italy, Bangladesh, Sri Lanka, the U.S., Morocco, and others has been disrupted due to lockdowns implemented by governments to combat the spread of coronavirus since 2020. Patients suffering with Covid-19 had direct impact on their immune system which lead to decrease in immunity level, whereas Epidemiology data of COVID-19 showed that the outbreak rate was often more severe in those over the age of 60 or who have health conditions such as lung or heart disease and diabetes.
Increasing use of vitamins and minerals during the pandemic by the elderly patients had boosted demand of elderly nutrition market during covid-19. For instance, on June 2021, Springer nature, an academic publishing company, published an article on Role of vitamins and minerals as immunity boosters in COVID-19, which stated that trace elements such as zinc, selenium, manganese, and copper, are essential micronutrients. Antiviral and antioxidant properties are involved in multiple immunomodulatory pathways and improve the body's defense system by different mechanisms. Supplementation of vitamins and micronutrients may have a positive impact on the recovery of COVID-19 infection.
Thus, impact of the Coronavirus (COVID-19) pandemic has driven growth of the global elder nutrition market during the forecast period.
Global Elderly Nutrition Market: Key Developments
Increasing launches of novel nutritional products by key market players to fight against diabetes boost growth of the global elderly nutrition market over the forecast period. For instance, on December 2021, Nestlé, a multinational food and drink processing company, had launched a nutrition program to fight against prediabetes, in Malaysia. The food supplement Nutren GlucoSmart contains Reducose, a Mulberry leaf extract, a natural ingredient known in Asian traditional therapies for lowering blood glucose spikes, which can be sprinkled over meals as part of a healthy diet to help maintain normal blood glucose after a meal.
Increasing awareness among people in the U.S about parenteral nutrition by key market players drives growth of the global elderly nutrition market over the forecast period. For instance, in October 2018, the American Society for Parenteral and Enteral Nutrition (ASPEN), an organization which drives the science and practice of clinical nutrition, and Baxter International Inc., a global clinical nutrition company, launched an educational video series on the appropriate use of parenteral nutrition (PN), as part of the organizations’, SmartPN ,collaboration to help reduce clinical malnutrition. Parenteral nutrition (PN) is a significant advancement in contemporary medicine that provides patients who are unable to receive enough oral or enteral nutrition with a choice.
Browse 30 Market Data Tables and 28 Figures spread through 166 Pages and in-depth TOC on ‘Elderly Nutrition Market’- Global Forecast to 2026, by Nutrition Type (Minerals, Multi-Vitamins, Iron, Proteins, Fibers, Lipids, Antioxidants, and Others), by Application (Diabetes, Renal Failures, Obesity, Sarcopenia, Cancer, and Others), by Route of Administration (Oral, Parenteral, and Enteral,), by Distribution Channel (Hospitals & Clinics, Retail Pharmacies, Convenience Store, Online, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)- Global Forecast to 2030”
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Key Takeaways of the Global Elderly Nutrition Market:
- Global elderly nutrition market is expected to witness a CAGR of 6.7% during the forecast period, owing to increasing geriatric population susceptible to chronic diseases, neurological disorders, sarcopenia, and osteoporosis in elder women and men. For instance, in June 2021, National Center for Biotechnology Information, a U.S. based National Library of Medicine, published a report based on The scorecard for osteoporosis in Europe (SCOPE), which stated that across Europe in 2019 (European Union, plus Switzerland & the U.K.) 32 million individuals aged fifty above were estimated to have osteoporosis, equivalent to 5.6% of the total European population aged fifty above , or approximately 25.5 million women (22.1% of women aged fifty above) and 6.5 million men (6.6% of men aged +50) suffering from osteoporosis.
- Among nutrition type, the protein segment held dominant position in the elderly nutrition market in 2022, as large number of nutritional products majorly contain proteins.
- Among application, diabetes segment held a dominant position in the elderly nutrition market in 2022, as majority of the nutritional products for elderly patients are used in diabetes condition.
- Among route of administration, oral segment held a dominant position in the elderly nutrition market in 2022, as this is very convenient, cost effective than others, and does not require any medical supervision.
- Key players operating in the global elderly nutrition market include, Otsuka Pharmaceuticals Co., Ltd., Baxter International Inc., Allergan, Danone, Abbott Laboratories, Pfizer, Inc., Mead Johnson & Company, LLC., Sanofi, Nestlé’s, GlaxoSmithKline, Wockhardt Ltd, Fresenius Kabi AG, Ranbaxy, WOCKHARDT, The Kraft Heinz Company, and Sichuan Kelun Pharmaceutical Company Limited
