1 Global Elderly Food Service Market Insight Analysis
The global elderly food service market is valued at USD 1,410.8 million in 2024, with a CAGR of 15.6% from 2024 to 2033.
Elderly Food Service refers to a healthy meal that is not only simple but also nutritious for the elderly who cannot often cook for themselves or caregivers who need a break. Aims to reduce hunger, food insecurity and malnutrition among older people.
Figure Global Elderly Food Service Market Size (M USD) and CAGR (2024-2033)
2 Elderly Food Service Market Growth Drivers and Restraints
The most significant driver is the global aging population. With the United Nations estimating that the number of people aged 60 and above will reach 2.1 billion by 2050, the demand for elderly food services is set to increase exponentially. Health and nutritional awareness are also on the rise, with elderly populations and their caregivers becoming more conscious of the importance of healthy and nutritious diets. This has led to a rise in demand for specialized food services that cater to the specific dietary needs of the elderly.
Technological advancements in food technology have made it possible to offer a wider range of products, including pre-packaged meals that are easy to prepare and nutritionally balanced, catering to the needs of elderly consumers. Economic growth in many countries has led to higher disposable incomes, enabling more people to afford specialized elderly food services.
High operational costs pose a significant challenge for the industry, especially when considering the need for specialized ingredients and delivery services. The food industry is heavily regulated, and elderly food services must adhere to strict food safety and health standards, which can be a barrier to entry for smaller players. Varied cultural and dietary preferences across different regions can limit the scalability of certain food service models.
Another limiting factor is the lack of awareness about the benefits of specialized elderly food services, particularly in less developed regions. Supply chain challenges, especially in rural areas, can limit the availability and quality of ingredients, impacting the industry’s ability to provide consistent service. Lastly, the impact of COVID-19 on the industrial chain has disrupted the circulation of goods and services, negatively affecting the economy of the elderly food service industry and related sectors.
3 Technological Innovations in the Elderly Food Service Market
Advances in data analytics and nutrition science are enabling companies to offer personalized meal plans tailored to individual health needs and preferences. The integration of e-commerce platforms has made it easier for elderly food service companies to reach customers directly, providing convenience and expanding their market reach.
Innovations in food safety, such as blockchain technology for traceability, are enhancing trust in the quality and safety of elderly food services. There is a growing focus on sustainability, with companies investing in technologies that reduce food waste, use eco-friendly packaging, and source ingredients from sustainable practices.
Many companies are using M&A as a strategy to expand their market presence, acquire new customers, and enter new geographical markets. Through M&A, companies are able to diversify their service offerings, moving from single product lines to a broader range of elderly food services, including meal planning, preparation, and delivery.
M&A activities also facilitate the integration of complementary technologies, such as those related to food tracking and home delivery services, enhancing overall operational efficiency. Companies that engage in strategic M&A can gain a competitive advantage by consolidating market share and leveraging the strengths of the acquired companies.
4 Global Elderly Food Service Market Size by Type
Frozen Food: This category includes a wide array of pre-frozen meals that are convenient and easy to store, making them an attractive option for elderly consumers who may have limited mobility or cooking abilities. In 2024, the Frozen Food segment is projected to generate a revenue of $107.91 million USD, holding a market share of approximately 7.65%. This type of elderly food service is expected to see a steady growth due to the convenience it offers, especially in regions with harsh weather conditions where fresh food options might be limited.
Fresh Fully Cooked Meals: These are ready-to-eat meals that do not require any further preparation, catering to elderly individuals who may have difficulty in cooking or have dietary restrictions that require special meal preparations. The Fresh Fully Cooked Meals segment is anticipated to bring in a revenue of $320.19 million USD in 2024, capturing a significant market share of around 22.70%. The appeal of this type lies in its convenience and the assurance of a complete, balanced meal.
Fresh Half-cooked Meals: Designed for those who prefer to have some involvement in the cooking process or need meals that can be easily finished off with minimal effort, Fresh Half-cooked Meals are partially prepared and require final cooking at home. This segment is expected to generate a substantial revenue of $778.35 million USD in 2024, with a market share of approximately 55.17%. The popularity of this type is attributed to its flexibility, allowing elderly consumers to customize the final product to their taste while still benefiting from the ease of semi-prepared meals.
Special Meals Customized for Elderly: These meals are tailored to the specific nutritional needs and health conditions of the elderly, such as meals low in sodium or high in essential nutrients. In 2024, the Special Meals Customized for Elderly segment is projected to have a revenue of $209.03 million USD, with a market share of about 14.82%. The growth of this segment is driven by the increasing awareness of the importance of tailored nutrition for health maintenance and disease prevention among the elderly.
Table Global Elderly Food Service Market Size and Share by Type in 2024
|
Type |
Market Size (M USD) 2024 |
Market Share 2024 |
|---|---|---|
|
Frozen Food |
107.91 |
7.65% |
|
Fresh Fully Cooked Meals |
320.19 |
22.70% |
|
Fresh Half-cooked Meals |
778.35 |
55.17% |
|
Special Meals Customized for Elderly |
209.03 |
14.82% |
5 Global Elderly Food Service Market Size by Application
Hospital: With an expected revenue of $301.53 million USD in 2024, hospitals account for a significant share of the market. This application is driven by the need for specialized, nutritious meals that support the recovery and health maintenance of elderly patients.
Daycare: Daycare centers are projected to generate $142.76 million USD, serving the needs of elderly individuals who require daily care and nutrition support. The focus here is on balanced meals that cater to the social and dietary requirements of this group.
Elderly People’s House: This segment is expected to reach $94.58 million USD, reflecting the growing demand for community-based living arrangements that offer meal services tailored to the elderly’s preferences and health conditions.
Residential: The largest application segment, Residential, is anticipated to command a revenue of $746.71 million USD. This includes meal services for elderly individuals living independently or with family, emphasizing the convenience and nutritional value of home-delivered meals.
Table Global Elderly Food Service Market Size and Share by Application in 2024
|
Application |
Market Size (M USD) 2024 |
Market Share 2024 |
|---|---|---|
|
Hospital |
301.53 |
21.37% |
|
Daycare |
142.76 |
10.12% |
|
Elderly People’s House |
94.58 |
6.70% |
|
Residential |
746.71 |
52.93% |
|
Others |
125.22 |
8.88% |
6 Global Elderly Food Service Market Size by Region
The US market is expected to lead with a revenue of $480.18 million USD in 2024. The US has a large elderly population, and the market is driven by advanced food service technologies and a strong focus on elderly health and nutrition.
The EU market is projected to generate $271.74 million USD, reflecting the region’s aging population and the integration of elderly care services within its social welfare systems.
APAC is anticipated to reach $423.11 million USD, with significant growth potential due to the rapidly aging populations in countries like China and Japan, coupled with increasing disposable incomes and awareness of elderly care.
Eastern Europe is expected to contribute $43.89 million USD, with markets in countries like Poland and Hungary showing steady growth due to improving economies and investments in elderly care infrastructure.
The UK market is projected to generate $62.51 million USD, with a focus on high-quality elderly care services, including meal services, that align with the country’s robust healthcare system.
Figure Global Elderly Food Service Market Size (M USD) by Region in 2024
7 Global Elderly Food Service Market Analysis by Major Players
7.1 Hello Fresh
Company Introduction and Business Overview:
Hello Fresh, established in 2011 and operating in Europe, North America, and Asia Pacific, is a leading provider of meal plans and fresh, high-quality ingredients with easy-to-follow recipes. The company is known for its diverse offerings suitable for various lifestyles and diets.
Hello Fresh specializes in offering a wide range of meal kits that cater to different dietary needs, from ketogenic to plant-powered options. Their business model focuses on convenience, health, and sustainability, making them a popular choice in the elderly food service market.
Products:
Hello Fresh provides easy-to-follow recipes with clear nutritional information, high-quality ingredients sourced directly from farms, and convenient meal kits designed to fit perfectly in the fridge, resulting in a fun and innovative cooking experience with an emphasis on reducing waste.
Market Performance in 2022:
In 2022, Hello Fresh reported a revenue of $415.96 million USD and a gross margin of $181.24 million USD, reflecting a gross margin percentage of 43.57%.
7.2 Relish Labs LLC (Home Chef)
Company Introduction and Business Overview:
Relish Labs LLC, operating as Home Chef since 2013, is a subscription meal kit delivery service based in the US. The company is dedicated to helping people save time while enjoying home-cooked meals with options varying in difficulty and taste.
Home Chef is recognized for its extensive menu offerings, providing customers with over a hundred options for classic meals. The company’s focus on convenience and variety has made it a significant player in the elderly food service market.
Products:
Home Chef offers a range of meal kits that cater to different tastes and dietary preferences, allowing customers to choose from a wide array of options, thus providing a personalized and flexible meal planning solution.
Market Performance in 2022:
For the fiscal year 2022, Relish Labs LLC (Home Chef) reported a revenue of $105.09 million USD and a gross margin of $42.42 million USD, with a gross margin percentage of 40.37%.
7.3 Sun Basket
Company Introduction and Business Overview:
Sun Basket, founded in 2014 and operating in the US, is a subscription meal delivery service that delivers fresh organic and sustainable ingredients and recipes weekly, allowing members to cook for themselves with ease.
Sun Basket is committed to providing clean, high-quality ingredients and organic produce, enabling customers to choose their meals and ingredients, receive everything in a cold-packed home delivery package, and enjoy healthy meals at home in minutes.
Products:
Sun Basket’s service offerings include a selection of clean, high-quality ingredients, the flexibility to choose meals and ingredients, and the convenience of home delivery in a cold-packed package, ensuring meals are fresh and ready to be prepared with minimal effort.
Market Performance in 2022:
Sun Basket closed the year 2022 with a revenue of $63.79 million USD and a gross margin of $26.47 million USD, translating to a gross margin percentage of 41.49%.