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Silver Food Market Trends, Industry Growth Analysis and Forecast by 2025

Author : Rahul Sankrityayan | Published Date : 2019-08-09 

Global Market Insights, Inc. has launched a report on Silver Food Market that elucidates an in-depth synopsis of this business vertical over the forecast period. The report is inclusive of the prominent industry drivers and provides an accurate analysis of the key growth trends and market outlook in the years to come in addition to the competitive hierarchy of this sphere.

Global silver food market is chiefly driven by the rising population of elderly people around the globe. Increasing amount of healthcare expenditure in major countries will boost the lifespan of people and will result in higher percentage of aged population in a country. This will further drive the global silver food demand. Asia Pacific will have the highest number of elderly people in the upcoming years. Japan has the highest number of people over 60 years among all the countries in Asia Pacific. The rising population of senior people in the Asia Pacific region will propel the silver food demand in the upcoming years.

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Increasing government activities to promote elderly specific food among consumers will also create silver food demand in the upcoming years. Government programs in various countries will help in creating awareness about the product in the upcoming years. Another key growth driving factor for the product market is rising government expenditure in healthcare sector. Global healthcare sector will grow substantially in the upcoming years, further propelling the silver food market demand.

The industry has been classified according to product and distribution channel. Silver food products are classified as supplements and meal boxes. Meal boxes will occupy the largest share in product segment in the upcoming years. Increasing number of senior friendly meal box providers in developed parts of the globe will augment this segment's industry growth. Supplements are likely to grow significantly at CAGR of greater than 4% in the upcoming years.

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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.

Growth drivers for this industry:

1. Rise in ageing population

2. Improving disposable income in developing regions

3. Rising government initiative

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.

Europe 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. Increasing healthcare expenditure in order to improve nutritional level of elderly people will further create product demand in Europe in the upcoming years. In 2018, Asia Pacific silver food market was valued at approximately USD 4 billion. The key factors responsible for the growth of silver food 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.

Nestle, Abbott Laboratories, Pfizer, Herbalife nutrition, Sysco Corporation, Arla Foods Ingredients Group are some of the key silver food market participants.

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About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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Global Market Insights, Inc.
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About Author

Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Fractovia, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in technical field as well as writing. He can be contacted at- [email protected] | https://twitter.com/sankritsays

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