European Silver Food Market held the largest share among all the regions due to rising population of senior people in major European countries such as Germany, Italy, France, Sweden, etc.
Selbyville, United States - April 25, 2019 /MarketersMedia/ —
The key factors responsible for the growth of silver food market in Asia Pacific are increasing supplement sale in the major countries such as China, South Korea & Japan, increasing amount of disposable income, recommendation of silver food for elderly people by the doctors, etc. North America is also a key region which contributed towards the product market owing to rising number of senior people in the region, penetration of online portals and high awareness about the product.
Global Silver Food Market is set to cross USD 18 billion by 2025; according to a new research report by Global Market Insights, Inc. Major growth driver of silver food market is the ageing population. Increasing number of populations above the age of 60 means greater usage of the product in the coming years. According to UN, the number of persons aged 80 or over was estimated to be 137 million in 2018 and is expected to triple by reaching 425 million in 2050.
Europe holds a major market share followed by Asia Pacific and North America. Asia Pacific is likely to exhibit highest gains over the forecast timeframe due to rapid economic and social development in the region coupled with improving disposable income has resulted in increased sale of silver food. For instance, annual average income of urban households in China increased from USD 637.3 in 1995 to over USD 5,425 in 2018.
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On the basis of distribution channel, market has been segmented into hospitals, online portals, senior care facilities, grocery stores, restaurants, etc. Among these, senior care facilities are likely to have the highest market share in the future. Online portal will also be a key segment in silver food market owing to limited operating cost as this retail format eliminates the intermediaries present in the distribution channel and supply product directly to the end-consumer.
Hospitals are also an important segment in the market due to increasing number of senior patients facing health related problems. Major silver food manufacturers supply their product to the hospitals directly. This will augment the senior friendly food demand in the hospitals segment. Grocery stores segment will also grow substantially in the upcoming years.
Supplements occupy a significant market share in the overall silver food market and is likely to generate revenue exceeding USD 7 billion by 2025. Various supplements are available in the market for elderly population like supplements for iron, fatty acids, calcium, all types of vitamins, proteins, magnesium, etc. These supplements are found in the form of tablets, capsules, syrup or powder. Senior friendly food is also available in different varieties depending on factors like age, sex and specific requirements. These products ensure proper intake of essential nutrients and maintains the health of ageing population. High growth in global supplements industry will propel the market development in the study period.
Some of the global silver food market participants include Herbalife Nutrition, Oy Karl Fazer Ab, Mom’s Meals, Koninklijke DSM N.V., Arla Foods Ingredients Group P/S, Nutrisystem, Inc., Pfizer Inc. Nestle S.A., Abbott Laboratories, Roquette Frères, Sysco Corporation, etc. Product innovation by market players is likely to be a major strategy to gain competitive advantage in the silver food industry in the coming years.
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Contact Info:
Name: Arun Hegde
Email: Send Email
Organization: Global Market Insights, Inc.
Website: https://www.gminsights.com/pressrelease/silver-food-market
Source URL: https://marketersmedia.com/silver-food-market-outlook-share-trends-size-analysis-report-by-2025/506599
Source: MarketersMedia
Release ID: 506599
