Global Silver Food Market: Overview
An increasing awareness about health has led to the emergence of global silver food market. Silver food is a type of food that offers specific nutritional value. Senior citizens are the major consumers of silver food as they are more prone to nutritional deficiencies. The global silver food market is expected to grow exponentially during the forecast period owing to an increasing population with specific dietary requirements.
Forthcoming, Transparency Market Research report offers a better understanding of the key growth prospects in the global silver food market. Additionally, it talks about the current market dynamics and the competitive landscape. It further ascertains the regional outlook of the market and sheds light on major drivers and restraints.
Global Silver Food Market: Drivers and Restraints
As per World Health Organization (WHO), by 2050, more than 2 billion of world’s population will be in the age group of more than 60 years of age. This has led to an increase in demand for senior friendly food products, thus driving the growth of global silver food market. Further, longer lifespans in few regions has contributed to an expansion of silver food market.
Developments in healthcare infrastructure and an increase in health consciousness has also propelled the silver food market’s growth. Additionally, rising investments in healthcare and high disposable incomes in developed nations has expedited the market’s growth. Numerous nutritional benefits offered by silver food has led to a large number of doctors recommending it to their patients. This has resulted in a surge in its production, thereby facilitating the market’s growth.
In addition to the aforementioned drivers, several initiatives taken by governments for senior citizens such as the National Programme for Health Care of the Elderly (NPHCE) has led to spur in the market’s growth. Moreover, emergence of several senior care facilities has contributed to the growth of global silver food market.
However, along with the driving factors, there are a few restraints that may hinder the market’s growth. Factors such as lack of awareness regarding the benefits of silver food in the underdeveloped regions may restrain the market’s growth. In addition to this, higher costs and lack of affordability may cause a shortfall in the market. Nonetheless, emergence of food supplements to promote a healthy lifestyle in the ageing population will subside the effects of the restraints. Additionally, funding received from governments and non-profit organizations will drive the growth of global silver food market.
Global Silver Food Market: Regional Outlook
Geographically, Asia Pacific is expected to dominate the global silver food market. Growing ageing population and high sale of supplements in countries such as India and Japan has contributed to the market’s growth in this region. North America is also expected to grow significantly during the forecast period owing to an increase in number of people with obesity. High disposable income in the U.S. has also driven the market’s growth in this region.
Global Silver Food Market: Competitive Landscape
The global silver food market displays a highly fragmented and competitive market with several players trying to expand their frontiers. Prominent players in the market comprise Abbott Laboratories, Magic Kitchen, Pfizer, Nestle, Carezzo Nutrition B.V., and Arla Foods Ingredients Group. These companies are collaborating with several food delivery companies to strengthen their hold in the global silver food market. Additionaly, they are focusing on new product developments and engaging in research and development activities to gain a strong foothold in the global silver food market.
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- Market segments and sub-segments
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The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
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- Reporting and evaluation of recent industry developments
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