June 16, 2017

Wonshik Choi_South Korea

Korea - The aged-friendly food market has grown by 54.8% in 5 years

The silver food market for elderly people is growing rapidly in Korea, but the "aged-friendly food" industry in Korea is still in its infancy.
Mérieux NutriSciences_ElderPeopleFood

The Ministry of Agriculture, Food and Rural Affairs and the Korea agro-Fisheries & Food Trade Corporation published a market analysis report on the aged-friendly food market.

In Korea, aging is progressing to such an extent that it cannot be found in the world. According to the National Statistical Office, it is expected that the aging society will reach an age of 14% or more by the end of 2017 or early 2018. Accordingly, it is required to improve the quality of life of elderly people in each industry and to develop products and services that meet the demand of the elderly. Especially, elderly people are suffering from difficulties in eating or suffering from chronic diseases due to decreased chewing function and digestive function due to aging.
Therefore, in order to improve health and improve quality of life after retirement, the interests are desired. The market size of major agro-related products is estimated to have risen by 54.8% from 2011 by 2015. The proportion of elderly-friendly foods in the domestic food market is 1.5%. According to the report: "The government thinks that it will focus on aging-friendly food market, plans to expand its domestic market through R&D investment, and expand its export market to Japan and Hong Kong, which are aging." .

Source: Ministry of Agriculture, Food and Rural Affairs 


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