Seattle, Aug. 23, 2022 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global elderly nutrition market is estimated to be valued at US 23,632.4 million in 2022 and is expected to exhibit a CAGR of 6.7 % during the forecast period (2022-2030).
Key Trends and Analysis of the Global Elderly Nutrition Market:
Major players operating in market are focusing on adopting strategies such as collaborations and new product launches, which is expected to drive the global elderly nutrition market growth over the forecast period. For instance, in November 2021, The Friedman School of Nutrition Science and Policy at Tufts University had collaborated with Nestlé, a multinational food and drink processing company, to launch the Global Nutrition and Health Atlas (GNHA), an online platform that consolidates and provides free access to global nutrition and health data for over 190 countries. The platform is an openly accessible tool created to aid in the simple sharing of nutrition and health data. The data is broken down into six essential dimensions: demographics, dietary intakes, nutritional status, health status, health economics, and food sustainability.
Furthermore, in January 2022, Danone, a multinational food-products company launched a powder version of medical nutrition drink ‘Souvenaid’, which is used for memory function in early stage of Alzheimer’s disease, including mild cognitive impairment due to Alzheimer’s disease.
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Key Market Takeaways:
Market players are focused on growth strategies such as launch of new products for healthy lifestyles in elderly age group. This in turn is expected to drive growth of the global elderly nutrition market. For instance, on July 16, 2022, Herbalife Nutrition, a global nutrition company, launched its latest science-backed product, ‘Fat Release’ , to healthy and active lifestyles. According to a recent U.S. study by OnePoll, a survey-led marketing research company, the average person overindulges in unhealthy food three nights per week, and when a person is working to maintain a healthy lifestyle or on a weight loss journey, overindulging affects their health goals. This launched product aims to trim the fat from food to keep people on track with their health goals with proper amount of nutrients.
Among nutrition type, the protein segment has dominant position in the elderly nutrition market in 2022, owing to increasing need of protein in elderly age group. For instance, in March 24, 2022, Mighty Foods, a food-tech plant-based protein brand, had launched a range of products in Mumbai, India. The plant-based protein products include a wide variety of easy-to-cook recipes such as seekh kebab, galauti kebab, spring roll, grilled plant fish, spinach quesadilla, keema samosa, dim sums keema bao, burger patty, prawn in black pepper sauce, prawn thai curry, plant keema bao, and plant keema high in protein.
Among regions, North America is expected to hold a dominant position in the global elderly nutrition market over the forecast period, owing to increasing prevalence of chronic lung disease in the region. For instance, in February 2021, according to the reports published in National Center for Biotechnology Information, mentioned about Prevalence and clinical features of perinatal chronic lung disease by infant gestational age in the U.S., which led to a higher number of infected infants being reported during the study. In the United States, CLD (Chronic Liver Disease), a perinatal chronic lung disease, is identified in about 300 newborns who were born at or after 32 weeks of gestation each year in US.
Competitive Landscape:
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.
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Market Segmentation:
- Global Elderly Nutrition Market, By Nutrition type:
- Minerals
- Multi-Vitamins
- Iron
- Proteins
- Fibers
- Lipids
- Antioxidants
- Others (Carbohydrates, Zinc, etc.)
- Global Elderly Nutrition Market, By Application:
- Diabetes
- Renal Failures
- Obesity
- Sarcopenia
- Cancer
- Others (Cardiovascular Disease, Osteoporosis,etc.)
- Global Elderly Nutrition Market, By Route of Administration:
- Oral
- Parenteral
- Enteral
- Global Elderly Nutrition Market, By Distribution Channel:
- Hospitals & Clinics
- Retail Pharmacies
- Online Pharmacies
- Others (Hypermarket, Supermarket, etc.)
- Global Elderly Nutrition Market, By Region:
- North America
- By Country
- US
- Canada
- By Country
- Latin America
- By Country
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Country
- Europe
- By Country
- U.K.
- Germany
- Italy
- Spain
- France
- Russia
- Rest of Europe
- By Country
- Asia Pacific
- By Country
- Australia
- India
- China
- Japan
- ASEAN
- South Korea
- Rest of Asia Pacific
- By Country
- Middle East
- By Country
- GCC
- Israel
- Rest of Middle East
- By Country
- Africa
- By Country
- South Africa
- Central Africa
- North Africa
- By Country
- North America
Related Market Intelligence Reports:
Pediatric Nutrition Market, by Product Type (Milk-based, Soy-based, Organic, Prebiotic/Probiotic, Amino Acid-based, and Others), by Age Group (Infant and Children), by Formulation (Powder and Liquid), by Application (Brain Development, Nutrition Source (Sole Source and Supplements), Metabolic Disorders (Maple Syrup Disease, Phenylketonuria, Insulin Resistance, and Others), Allergy Management (Cow’s Milk Protein Allergies, Lactose Intolerance, and Others)), by Distribution Channel (Online Stores and Retail Stores), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2022 – 2030
Parenteral Nutrition Market, by Nutrition Type (Carbohydrates, Lipid Emulsion, Amino Acid Solutions, Electrolytes, Vitamins and Trace Minerals, and Others), by Patient Type (Infants, Adults, and Geriatric), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2021 – 2028
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