According to Coherent Market Insights, the global elderly nutrition market was valued at US$ 17,453.5 million in 2017, and is projected to exhibit a CAGR of 6.6% over the forecast period (2018 “ 2026).
Key Trends and Analysis of the Elderly Nutrition Market:
Increase in geriatric population who are susceptible to chronic diseases and neurological diseases, lack of nutritional intake through food, increasing incidences of organ dysfunction, weakness, sarcopenia, low immunity due to aging, and osteoporosis associated with elder women are some of the major factors boosting growth of the elderly nutrition market.
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Market players are actively investing in research for developing novel materials for management of elders nutrition. Moreover, the players are committed to offer new and improved products in order to address the critical unmet needs of elders nutrition. For instance, in April 2018, Abbott launched Ensure Max Protein for elderly aged above 50 years. Ensure Max Protein consists of nine essential amino acids, 22 vitamins, minerals, and antioxidants such as vitamin C, vitamin D, vitamin E.
Moreover, key players operating in the market are focused on adopting acquisition strategies in order to gain access to innovative products and expand its product offerings in the potential markets. For instance, in September 2018, Givaudan acquired Naturex, a company which has strong product portfolio in nutrition, health and others. This acquisition will strengthen Givaudans to expand its portfolio and capabilities in natural solutions.
However, high risk associated with parenteral therapy such as refeeding syndrome, liver dysfunction, and cost burden due to medical supervision are expected to hinder the market growth. According to Journal of Gastroenterology and Hepatology, December 2013, around 4% of cases of refeeding syndrome were registered due to parenteral nutrition in the U.K.
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Key Market Takeaways:
- The global elderly nutrition market is expected to exhibit a CAGR of 6.6% during the forecast period (2018 “ 2026), owing to increasing geriatric population prone to chronic diseases and neurological disorders, lack of nutritional intake, incidences of organ dysfunctions, prevalence of low immunity, weakness associated with aging, and osteoporosis associated with elder women. The data from National Health and Nutrition Survey, 2011-2012, estimated around 50% of adults above 60 years with weakness in muscles, while 13% had moderate muscle strength, and 82% had normal muscle strength.
- Market growth is attributed to approvals and launches of novel products for neurological disorders. For instance, in 2012, Nutricia launched Souvenaid used in dietary management of early Alzheimers disease.
- Key players in the market are focused on adopting mergers and acquisitions strategies to enhance its product portfolio, which in turn is expected to propel the market growth over the forecast period. For instance, in September 2018, Keurig Dr Pepper acquired Core Nutrition.
- Key players operating in the global elderly nutrition market include, Otsuka Pharmaceuticals Co., Ltd., Baxter International Inc., Allergan, Danone, Nutricia, Abbott Laboratories, Pfizer, Inc., Mead Johnson & Company, LLC., Sichuan Kelun Pharmaceutical Company Limited, Sanofi, Grifols S.A., Nestls, Heinz, GlaxoSmithKline, Wockhardt Ltd, Fresenius Kabi AG, and Ranbaxy.
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