Global Elderly Nutrition and Packaged Food Market Poised for Significant Growth

The global elderly nutrition and packaged food market is experiencing robust expansion, driven by an aging population and increasing health consciousness among seniors. Valued at approximately USD 19.67 billion in 2023, the market is projected to reach nearly USD 33.28 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 7.8% from 2024 to 2030.

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Competitive Landscape

The market is characterized by the presence of key players such as Nestlé, Danone, Abbott Laboratories, and Reckitt Benckiser Group, who are continually innovating to meet the evolving nutritional needs of the elderly population. These companies are focusing on product development, strategic partnerships, and mergers and acquisitions to strengthen their market position.

Regional Demand

Asia-Pacific is emerging as a significant market for elderly nutrition and packaged food products, with countries like China and Japan leading the demand. This surge is attributed to rapidly aging populations and increased awareness of senior health. Similarly, North America and Europe continue to show steady growth due to well-established healthcare systems and proactive health management among the elderly.

Key Market Segments in Elderly Nutrition and Packaged Food Industry : 

 by Product Type

1.1. Ready-to-Eat Meals
1.2. Nutritional Supplements
1.3. Snacks
1.4. Beverages
1.5. Others

In 2023, the offline sector dominated the global packaged food and senior nutrition market, with a market share of over 80%, based on the distribution channel. Over the course of the projection period, the segment is anticipated to increase at a CAGR of 6.9%. The need for packaged meals and nutrition products for the elderly is rising due to the growing number of supermarkets, hypermarkets, and specialty shops worldwide, which is fueling the segment's expansion.

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

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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

Over the course of the projected period, the online segment is anticipated to increase at a notable CAGR. Customers benefit from ease and flexibility when they shop online. Some of the elements driving segment growth include e-commerce websites' extensive product portfolios, simple comparisons, user reviews, suggestions, and discounts. Additionally, online platforms offer comprehensive product material, descriptions, and nutritional data. These features give customers access to details about the components, nutritional content, possible allergies, and health advantages of particular goods. Therefore, during the projected period, these variables promote the expansion of the packaged food and elderly nutrition markets and benefit the segment growth.

by End-User

1.1. Offline
1.1.1. Retail Stores
1.1.2. Hospital pharmacy1.2. Online

Leading Companies Driving the Elderly Nutrition and Packaged Food Market : 

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)

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