April 08, 2020
According to the research report titled ‘Silver Food Market Size By Product, By Distribution Channel, Industry Analysis Report, Regional Outlook , Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025’, available with Market Study Report LLC, the global silver food market is expected to exceed USD 18 billion by the year 2025.
Growing geriatric population in Asia-Pacific coupled with escalating healthcare expenditure are major factors driving the silver food market growth. Various governments across the world are introducing initiatives to create awareness and to promote elderly specific food. This factor along with surging expenditure by public entities towards healthcare sector are further aiding the market expansion.
By product, meal box segment is expected to hold the largest market share by the year 2025. Rising number of senior-friendly meal box providers is fueling the segmental growth. On the other hand, supplement segment is presumed to expand with a CAGR of 4% during 2019-2025.
In terms of distribution channel, senior care facilities segment of silver food market is predicted to expand considerably during the estimated timeframe. Alternatively, online portals will witness lucrative growth in the forthcoming years. Online portals eliminate the intermediaries and offer product directly to the end-consumer which further helps in reducing the operating cost.
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According to the report, silver food market share from hospitals segment is set to amplify in the forthcoming years, primarily due to increased pervasiveness of health disorders among senior patients. Numerous market majors provide their products directly to the hospitals, thus augmenting the demand for silver food in hospitals.
Considering the geographical landscape, the report states that Europe silver food industry is poised to acquire commendable growth in the ensuing years. The growth is attributed to growing elderly population in Sweden, France, Italy and Germany and surging healthcare expenditure to enhance nutritional level of senior patients.
On the other hand, Asia-Pacific silver food industry was worth USD 4 billion in the year 2018 and the demand is expected to surge due to rising disposable income and increasing sale of supplements in Japan, South Korea and China.
The prominent companies operating in silver food market are Homebistro, Oakhouse Foods Ltd., COOK Trading Ltd., Mom’s Meals, Oy Karl Fazer Ab, Apetito, Nutrisystem Inc., Sysco Corp., Herbalife Nutrition, Roquette Freres, Arla Foods Ingredients Group P/S, Abbott Laboratories, Koninklijke DSM N.V. and Nestle S.A.
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