Silver food is a combination of food with special dietary requirements for elderly population. The market for silver food emerged for the old age population to cater to their specific nutritional deficiencies. The increase in number of aging population drive the growth of the global silver food market.
Market scope and structure analysis:
|Market size available for years||2020–2027|
|Base year considered||2019|
|Forecast units||Value ($US)|
|Segments covered||Type, Application, Industry Vertical, and Region|
|Regions covered||North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Malaysia, Thailand, Indonesia, and Rest of Asia-Pacific), LAMEA (Middle East, Brazil, and Rest of LAMEA)|
|Companies covered||Pfizer Inc., Koninklijke DSM N.V., Arla Foods Ingredients Group P/S, Herbalife Nutrition, Nutrisystem Inc., Oy Karl Fazer Ab, COOK Trading Ltd., Homebistro, Nestle S.A., Abbott Laboratories, Roquette Frères, Sysco Corporation, Apetito, Mom’s Meals, Oakhouse Foods Ltd.|
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COVID-19 Scenario Analysis:
Production shut down scenario
The production of silver food supplements has been abruptly shut down in the industries whereas the meal boxes provided by health care facilities continue to operate at a slower pace.
Supply chain disruptions
The disruptions in supply chain has made the transportation of raw materials tough and this results in the lack of production. This impacted the revenue for the industry and created an imbalance between the demand and supply of the product.
Top Impacting Factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
The health conscious consumers prefer to intake an adequate amount of nutrition even at the older age. This intrigues the need to develop certain specific foods or supplements that add on to the nutritional content of the elderly population. The growing burden of healthcare of old age population convinces the government of various regions to promote silver foods and save a part of public expenditure from getting disbursed in the elderly population. Thus, the market for silver foods expands globally. However, the lack of awareness about the product in some regions hinder the growth of the market.
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The global silver food market trends are as follows:
New product launches to flourish the market
The growing health concerns increase the need and application of silver food in the market. Since silver food and supplements target the elderly population, these are rich in nutritional content that is required to counteract many deficiencies at that particular age. The key market players dwell on the opportunities to cater to the needs of a particular segment by manufacturing desirable utilities at the consumers’ convenience.
These products are not just consumed by the old age population but are also recommended by doctors to their aged patients. These supplements fulfill the dietary requirements by delivering the vital nutrients in the form of easily consumable foods or supplementary items. Government of many regions is emphasizing on the production of such products so as the health index and population health rate could be improved. This gives marketers the platform of exploring the untapped markets as well.
Senior care facilities
Senior citizens are an important part of any country’s population and thus there is a good amount of public expenditure kept for the specific age group. This includes the free health care facilities, pensions and other schemes.
To reduce the expenditure on the elderly population, it is of prime importance that the health of individuals is well maintained so they don’t end up becoming a load for the government. Thus, governments of many regions have been prompting the supply of nutritional food and supplements to the elderly population. The key highlight of this initiation are the senior care facilities that offer meal boxes to senior citizens.
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Key Segments Covered:
Key Benefits of the Report:
- This study presents the analytical depiction of the global silver food industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global silver food market share.
- The current market is quantitatively analyzed from 2020 to 2027 to highlight the global silver food market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global silver food market analysis based on competitive intensity and how the competition will take shape in coming years.
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