Older Adults Health Supplements Market- Growth, Share, Opportunities & Competitive Analysis, 2024 – 2032
Description
Market Overview:
The Older Adults Health Supplements Market is projected to grow from USD 182.65 billion in 2024 to USD 278.19 billion by 2032, with a compound annual growth rate (CAGR) of 5.4% from 2024 to 2032.
This market growth is largely driven by demographic shifts, with the global population of individuals aged 60 and older expected to exceed 2 billion by 2050, according to the World Health Organization. As the population ages, the demand for supplements targeting bone health, cognitive function, immunity, and overall vitality is growing. Increased awareness of preventive healthcare benefits among older adults and their caregivers is further boosting market growth. Additionally, advancements in product formulations using natural and organic ingredients are contributing to the appeal of health supplements. The expansion of e-commerce platforms has also increased accessibility, allowing older consumers to conveniently purchase products tailored to their specific health needs.
Market Drivers:
Prevalence of Chronic Diseases and Health Conditions
The increasing prevalence of chronic diseases such as osteoporosis, arthritis, diabetes, and cardiovascular conditions among older adults is a major driver for the demand for health supplements. These supplements provide essential nutrients and bioactive compounds that are often lacking in regular diets, aiding in the management of symptoms and improving overall quality of life. For example, Abbott’s Ensure® product range is fortified with essential vitamins and minerals to support vitality and help manage age-related health issues. The growing focus on maintaining overall health and vitality is encouraging older adults to include supplements in their daily routines, particularly in developed nations where healthcare providers frequently recommend dietary supplements as part of comprehensive care plans.
Market Challenges:
High Cost of Premium Products
A significant challenge in the market is the high cost of health supplements, especially those with organic or specialized formulations. Older adults on fixed incomes or those with limited financial resources may struggle to afford these products consistently. Additionally, premium supplements often have higher production costs, which are passed on to consumers, making them less accessible. This pricing challenge limits market adoption, particularly in emerging markets where price sensitivity is more pronounced.
Segmentation:
By Nature:
Organic
Conventional
By Flavour:
Orange
Lemon
Cherry
Raspberry
Chocolate
By Form:
Tablets
Capsules
Powders
Liquid
Chewables
By Distribution Channel:
Retail Pharmacies
Supermarkets/Hypermarkets
Online Stores
Specialty Stores
Direct Sales
By Region:
North America
U.S.
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Spain
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
South-East Asia
Rest of Asia Pacific
Latin America
Brazil
Argentina
Rest of Latin America
Middle East & Africa
GCC Countries
South Africa
Rest of the Middle East and Africa
Key Players:
Bayer AG
Biocare Copenhagen A/S
Bright Food (Group) Co., Ltd
Epax Norway AS
Healthy Life Pharma Private Limited
Lexicare Pharma Private Limited
Nestlé (Nutren)
Nutra Healthcare
Otsuka Pharmaceutical Co., Ltd.
Pharma Nord Inc.
Saipro Biotech Private Limited
SNU Biocare
V.R. Industries Pvt. Ltd.
Validus Pharmaceuticals
The Older Adults Health Supplements Market is projected to grow from USD 182.65 billion in 2024 to USD 278.19 billion by 2032, with a compound annual growth rate (CAGR) of 5.4% from 2024 to 2032.
This market growth is largely driven by demographic shifts, with the global population of individuals aged 60 and older expected to exceed 2 billion by 2050, according to the World Health Organization. As the population ages, the demand for supplements targeting bone health, cognitive function, immunity, and overall vitality is growing. Increased awareness of preventive healthcare benefits among older adults and their caregivers is further boosting market growth. Additionally, advancements in product formulations using natural and organic ingredients are contributing to the appeal of health supplements. The expansion of e-commerce platforms has also increased accessibility, allowing older consumers to conveniently purchase products tailored to their specific health needs.
Market Drivers:
Prevalence of Chronic Diseases and Health Conditions
The increasing prevalence of chronic diseases such as osteoporosis, arthritis, diabetes, and cardiovascular conditions among older adults is a major driver for the demand for health supplements. These supplements provide essential nutrients and bioactive compounds that are often lacking in regular diets, aiding in the management of symptoms and improving overall quality of life. For example, Abbott’s Ensure® product range is fortified with essential vitamins and minerals to support vitality and help manage age-related health issues. The growing focus on maintaining overall health and vitality is encouraging older adults to include supplements in their daily routines, particularly in developed nations where healthcare providers frequently recommend dietary supplements as part of comprehensive care plans.
Market Challenges:
High Cost of Premium Products
A significant challenge in the market is the high cost of health supplements, especially those with organic or specialized formulations. Older adults on fixed incomes or those with limited financial resources may struggle to afford these products consistently. Additionally, premium supplements often have higher production costs, which are passed on to consumers, making them less accessible. This pricing challenge limits market adoption, particularly in emerging markets where price sensitivity is more pronounced.
Segmentation:
By Nature:
Organic
Conventional
By Flavour:
Orange
Lemon
Cherry
Raspberry
Chocolate
By Form:
Tablets
Capsules
Powders
Liquid
Chewables
By Distribution Channel:
Retail Pharmacies
Supermarkets/Hypermarkets
Online Stores
Specialty Stores
Direct Sales
By Region:
North America
U.S.
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Spain
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
South-East Asia
Rest of Asia Pacific
Latin America
Brazil
Argentina
Rest of Latin America
Middle East & Africa
GCC Countries
South Africa
Rest of the Middle East and Africa
Key Players:
Bayer AG
Biocare Copenhagen A/S
Bright Food (Group) Co., Ltd
Epax Norway AS
Healthy Life Pharma Private Limited
Lexicare Pharma Private Limited
Nestlé (Nutren)
Nutra Healthcare
Otsuka Pharmaceutical Co., Ltd.
Pharma Nord Inc.
Saipro Biotech Private Limited
SNU Biocare
V.R. Industries Pvt. Ltd.
Validus Pharmaceuticals
Table of Contents
220 Pages
- CHAPTER NO. 1: INTRODUCTION
- 1.1.1. Report Description
- Purpose of the Report
- USP & Key Offerings
- 1.1.2. Key Benefits for Stakeholders
- 1.1.3. Target Audience
- 1.1.4. Report Scope
- CHAPTER NO. 2: EXECUTIVE SUMMARY
- 2.1. Older Adults Health Supplements Market Snapshot
- 2.1.1. Older Adults Health Supplements Market, 2018 - 2032 (USD Million)
- CHAPTER NO. 3: Older Adults Health Supplements Market – INDUSTRY ANALYSIS
- 3.1. Introduction
- 3.2. Market Drivers
- 3.3. Market Restraints
- 3.4. Market Opportunities
- 3.5. Porter’s Five Forces Analysis
- CHAPTER NO. 4: ANALYSIS OF COMPETITIVE LANDSCAPE
- 4.1. Company Market Share Analysis – 2023
- 4.2. Older Adults Health Supplements Market Company Revenue Market Share, 2023
- 4.3. Company Assessment Metrics, 2023
- 4.4. Start-ups / SMEs Assessment Metrics, 2023
- 4.5. Strategic Developments
- 4.6. Key Players Product Matrix
- CHAPTER NO. 5: PESTEL & ADJACENT MARKET ANALYSIS
- CHAPTER NO. 6: Older Adults Health Supplements Market – BY By Nature ANALYSIS
- CHAPTER NO. 7: Older Adults Health Supplements Market – BY By Flavour ANALYSIS
- CHAPTER NO. 8: Older Adults Health Supplements Market – BY By Form ANALYSIS
- CHAPTER NO. 9: Older Adults Health Supplements Market – BY By Distribution Channel ANALYSIS
- CHAPTER NO. 10: Older Adults Health Supplements Market – BY By Region ANALYSIS
- CHAPTER NO. 11: COMPANY PROFILES
- 11.1. Bayer AG
- 11.1.1. Company Overview
- 11.1.2. Product Portfolio
- 11.1.3. SWOT Analysis
- 11.1.4. Business Strategy
- 11.1.5. Financial Overview
- 11.2. Biocare Copenhagen A/S
- 11.3. Bright Food (Group) Co., Ltd
- 11.4. Epax Norway AS
- 11.5. Healthy Life Pharma Private Limited
- 11.6. Lexicare Pharma Private Limited
- 11.7. Nestle (Nutren)
- 11.8. Nutra Healthcare
- 11.9. Otsuka Pharmaceutical Co., Ltd.
- 11.10. Pharma Nord Inc.
- 11.11. Saipro Biotech Private Limited
- 11.12. SNU Biocare
- 11.13. V.R. Industries Pvt. Ltd
- 11.14. Validus Pharmaceuticals
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