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Older Adults Health Supplements Market

Market Insights on Older Adults Health Supplements covering sales outlook, demand forecast & up-to-date key trends

Older Adults Health Supplements Market By Nature (Organic, Conventional), Form (Pills, Powders, Liquids, Energy Bars), Flavour (Orange, Lemon, Cherry, Raspberry, Chocolate, Strawberry), Sales Channel & Region - Forecast 2022-2032

Older Adults Health Supplements Market Overview

The older adults health supplements market is projected to register a CAGR of 6% during the forecast period, up from US$ 140 Bn in 2021 to reach a valuation of US$ 265 Bn by 2032.

The older adults health supplements market is anticipated to show promising growth prospects during the forecast period as a result of growing competition. New competitors are offering a variety of options at reasonable pricing to fulfill the demand for older adults health supplements making it more accessible to customers in the global older adults health supplements market.

Health or dietary supplements are a broad category of goods that are primarily used to improve one's health and complement one's diet. As the world's population grows and the senior population grows, the sales of older adults health supplements are experiencing a significant shift in its growth. 

It has been discovered that as we age, our bodies become less effective in absorbing certain nutrients. As a result, these nutrients must be supplied externally; hence the demand for older adults health supplements is rising rapidly.

Report Attribute

Details

Estimated Base Year Value (2021)

US$ 140 Billion

Expected Market Value (2022)

US$ 148 Billion

Anticipated Forecast Value (2032)

US$ 265 Billion

Projected Growth Rate (2022-2032)

6 % CAGR

Sales of older adults health supplements are expected to rise significantly. In addition to this, demand for older adults health supplements is rising on account for US$ 187 Bn by 2026. Increasing sales of older adults health supplements are also projected to contribute to the growth of the older adults health supplements market share.

The increase in its intake among the conscious elderly is expected to have a significant impact on the sales of older adults health supplements. These supplements are effective in combating the lack of critical nutrients in the elderly population. They are available in a variety of formats, including tablets, liquids, powdered supplements, and energy bars.

Manufacturers in the older adults health supplements market get a big platform from which to serve the whole demand for older adults health supplements. The worldwide older adults health supplements market is seeing increased competition. With growing competition, new competitors are offering a variety of options at reasonable pricing, fulfilling the demand for older adults health supplements more accessible to customers. 

Bayer AG, Pharma Nord Inc., Epax Norway AS, Validus Pharmaceuticals, Lexicare Pharma Private Limited, Biocare Copenhagen A/S, Bright Food (Group) Co., Ltd, Otsuka Pharmaceutical Co., Ltd., Healthy Life Pharma Private Limited, SNU Biocare, Saipro Biotech Private Limited, V.R.Industries Pvt. Ltd and Nutra Healthcare are some of the leading participants in the older adults health supplements market.

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What are the Key Drivers to the Older Adults Health Supplements Market Share?

Increased knowledge of healthcare is expected to be the primary driver of the market sales of older adults health supplements. The older population accounts for a sizable portion of the global older adults health supplements market

Because the elderly are more conscious of the different ailments associated with old age, such as cardiovascular disease, aching joints, memory loss, and eyesight loss, they are turning to these older adults health supplements

Additionally, a shift in fitness trends serves as a significant sales of older adults health supplements and creates additional opportunities for the growth and demand for older adults health supplements. As the elderly are increasingly aware of physical and mental fitness and are curious and willing to invest resulting in great sales of older adults health supplements that can help people save money on healthcare and help them stay fit and healthy. 

As the trend in the consumption of these supplements continues to grow, the growth in healthcare knowledge, urbanisation, changes in fitness patterns, and advancements in living standards. They all are positively influence the sales of older adults health supplements.

Which is the Leading Region in the Older Adults Health Supplements Market?

The large aged population and a rise in health and fitness trends are expected to fuel the sales of older adults health supplements in the Asia Pacific region and North America. Increased money and changing lifestyles are key factors driving the demand for older adults health supplements

The majority of Americans and Japanese are now aware of the health advantages that these supplements for older persons provide and are adding them to their diets, so they are driving the sales of older adults health supplements enthusiastically. The world's senior population is expected to expand in lockstep with the global population's growth, which is expected to raise demand for older adults health supplements.

Nandini Roy Choudhury
Principal Consultant
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Who are the Key Players in the Older Adults Health Supplements Market?

Bayer AG, Pharma Nord Inc., Epax Norway AS, Validus Pharmaceuticals, Lexicare Pharma Private Limited, Biocare Copenhagen A/S, Bright Food (Group) Co., Ltd, Otsuka    Pharmaceutical Co., Ltd., Healthy Life Pharma Private Limited, SNU Biocare, Saipro Biotech Private Limited, V.R.Industries Pvt. Ltd and Nutra Healthcare are some of the leading participants in the older adults health supplements market.

Recent developments of the Older Adults Health Supplements Market:

  • Abbott Laboratories developed strawberry-flavoured food supplements in India in October 2020. This will bolster the company's assortment of dietary supplements, driving the demand for older adults health supplements
  • Amway committed USD 200 million in November 2023 to establish a nutritional supplement innovation centre in China. This aided in the provision of customised solutions and the general development of the business.
  • In October 2019, Herbalife developed a relaxing tea and new immune basics including EpiCor to fulfil the North American region's nutritional supplement need. This would bolster its sales of older adults health supplements product.

Scope of Report

Report Attribute

Details

Growth rate

CAGR of 6% from 2022 to 2032

Base year for estimation

2021

Historical data

2015 – 2020

Forecast period

2022 – 2032

Quantitative units

Revenue in USD billion, volume in kilotons, and CAGR from 2022 to 2032

Report coverage

Revenue forecast, volume forecast, company ranking, competitive landscape, growth factors, and trends, Pricing Analysis,

Segments covered

Nature, form, flavour, sales channel, region

Regional scope

North America; Western Europe, Eastern Europe, Middle East, Africa, ASEAN, South Asia, Rest of Asia, Australia and New Zealand

Country scope

U.S.; Canada; Mexico; Germany; U.K.; France; Italy; Spain; Russia; Belgium; Poland; Czech Republic; China; India; Japan; Australia; Brazil; Argentina; Colombia; Saudi Arabia; UAE; Iran; South Africa

Key companies profiled

  • Bayer AG
  • Pharma Nord Inc.
  • Epax Norway AS
  • Validus Pharmaceuticals
  • Lexicare Pharma Private Limited
  • Biocare Copenhagen A/S
  • Bright Food (Group) Co., Ltd
  • Otsuka    Pharmaceutical Co.,Ltd.
  • Healthy Life Pharma Private Limited
  • SNU Biocare
  •  Saipro Biotech Private Limited.
  • V.R.Industries Pvt. Ltd
  • Nutra Healthcare

Customization scope

Free report customization (equivalent to up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail of customized purchase options to meet your exact research needs.

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Key Segments For Older Adults Health Supplements Market

By Nature:

  • Organic
  • Conventional

By Form:

  • Pills
  • Powders
  • Liquids
  • Energy Bars

By Flavour:

  • Orange
  • Lemon
  • Cherry
  • Raspberry
  • Chocolate
  • Strawberry

By Sales Channel:

  • B2C
  • Stores Based Retailing
  • Grocery Retailers
  • Modern grocery retailers
  • Hyper Markets
  • Super Markets
  • Online Retailing

By Region:

  • North America (U.S., Canada)
  • Latin America (Mexico, Brazil)
  • Europe (Germany, U.K., France, Italy, Spain, Poland, Russia)
  • East Asia (China, Japan, South Korea)
  • South Asia (India, Thailand, Malaysia, Vietnam, Indonesia)
  • Oceania (Australia, New Zealand)
  • Middle East & Africa (GCC Countries, Turkey, Northern Africa, South Africa)

Frequently Asked Questions

The older adults health supplements market is predicted to register a CAGR of 6% during the forecast period.

Key players holding substantial older adults health supplements market share include Bayer AG, Pharma Nord Inc., Epax Norway AS, Validus Pharmaceuticals, Lexicare Pharma Private Limited and many more.

As per the analysis, the older adults health supplements market share is likely to be US$ 187 Bn by 2026.

As the elderly are increasingly aware of physical and mental fitness and are curious and willing to invest in resulting in a great sales of older adults health supplements that can help people save money on healthcare and help them stay fit and healthy.

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Nandini Roy Choudhury
Principal Consultant
LinkedIn
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Older Adults Health Supplements Market