Elderly Nutrition Market Worldwide Prospects, Share, Crucial Players, Size, Competitive Breakdown and Regional Forecast 2028 | Allergan, Otsuka Pharmaceuticals Co., Ltd., Baxter International Inc., Danone,

The Outbreak of COVID-19 Worldwide to Boost Growth of the Elderly Nutrition Market

The global elderly nutrition market is estimated to be valued at US$ 17,453.5 million in 2017 and is expected to exhibit a CAGR of 606% over the forecast period (2018-2026), as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Elderly nutrition plays an important role in advance healthcare, as it support healthy aging and helps prevent vitamin deficiencies and malnutrition. Elderly nutrition products include protein, vitamin, minerals, fibers, lipids, and other essential substance, essential for regulating the body functions and improving immunity. The geriatric population is an important demographic that needs to be taken care of across the medical and healthcare industries. Balanced diet plays an important role in the management of geriatric diseases and disorders, and with the increase in geriatric population, the demand for elderly nutrition is also expected to increase.

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Competitive Landscape:

Major players operating in the global elderly nutrition market are Sanofi, Pfizer, Inc., Abbott Laboratories, Fresenius Kabi AG, Danone, Baxter International Inc., Allergan, Mead Johnson & Company, LLC, and Otsuka Pharmaceuticals Co., Ltd., among others.

Key Market Drivers:

Increasing incidences of chronic diseases and nervous disorders are expected to propel growth of the elderly nutrition market during the forecast period. For instance, according to the World Health Organization (WHO), chronic diseases, such as diabetes, cancer, and heart disease, are the leading causes of death and disability worldwide.

Moreover, growing geriatric population across the globe is expected to augment the growth of the elderly nutrition market. For instance, according to the WHO, by 2030, 1 in 6 people in the world will be aged 60 years or over, and by 2050, the world's population of people aged 60 years and older will double (2.1 billion).

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COVID-19 Impact Analysis:

Older adults are at increased risk for both contracting and developing more severe illness from COVID-19. Older adults are also at increased risk for poor nutrition or malnutrition. During the pandemic, elderly nutrition programs became even more crucial for many older adults. In April 2021, MCS and Supermercados Econo partnered to launch the contest 'Gana con MCS Classicare' to support elderly population at this difficult time (during COVID-19 pandemic); to keep their health in optimal condition.

Key Takeaways:

• The elderly nutrition market is expected to exhibit a CAGR of 6.6 % during the forecast period owing to the increasing adoption or acceptance of elderly nutrition. For instance, in October 2020, Danone planned to launch more adult nutrition products in India to cater to consumers' demand for health and nutrition foods that has grown due to COVID-19.

• Among regions, North America, Europe, and Asia Pacific are expected to witness robust growth in the elderly nutrition market due to the increasing geriatric population, increasing incidences of chronic diseases and nervous disorders, increasing adoption or acceptance of elderly nutrition, and favorable government initiatives in these regions.

• For instance, in March 2021, Ministry of Social Justice and Empowerment (India) planned to launch a Poshan Abhiyan for the Elderly, to provide nutrition support to elders, who are not staying in the Old Age Homes and are victims of severe malnutrition, by focusing on procuring locally available healthy food material and serving hot-cooked mid-day meals.

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About US:

Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.

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This release was published on openPR.