The Active Adult (55+) Community Market was valued at $1.3 Trillion in 2020. Growing at a high CAGR of more than 8.9% between 2021 and 2031, it is estimated to reach $3.4 Trillion by 2031. However, the current pandemic of COVID-19 might make a slight difference in the present year's growth rate. Active Adult Communities include single-family homes, town homes, cluster homes, manufactured housing, and multifamily housing. Apart from this, retirement not being in the eligibility criteria, and the variety of optional care and support services available at these facilities, which expected to boost the market growth during the forecast period. Factors such as increasing income for the senior population, increased life prospects, and the wish to live an independent and maintenance-free lifestyle is expected to drive the market growth over the forecast period. Now, moving forward, the huge demand for the Active Adult (55+) Community Market in the active adult community department is further estimated to create new necessities for the market of growth over the forecast period of 2021-2031.
The Active Adult (55+) Community Segment Is Estimated to Witness Remarkable Growth
Source: SAI Research
The Cattle Feed market is segmented as gender outlook. Based on gender outlook, the Active Adult (55+) Community has been bifurcated as Women and men. Active adult (55+) communities are an attractive option to provide a wellness-centered environment and independence by focusing on lifestyle over health care. However, people's rising life expectancy postponement of disability to older ages is the primary factor for market growth.
North America holds the largest market share by Region
The North America Active Adult (55+) Community Market has been moreover segmented by country wise, including the U.S., Canada, and Mexico. The increasing demand for Active Adult (55+) Community for the future prospect is driving the Active Adult (55+) Community market growth. The active adult (55+) community has gained a significant market share over the forecast period among the elder living market. Apart from that, increasing demand for the independent and maintenance-free living among 55 to 64 years is the primary factor for market growth over the forecast period of 2021-2031.
Major Players in the Active Adult (55+) Community Market
The report covers a detailed outlook about the company, and it includes the company or industry profiles and market share of key players operating in the global market. Key players in the report include The Villages; The Pulte Homes Corporation; Laguna Woods Village (LWV); Green Valley Recreation; Holiday City - Berkeley; On Top of the World; Century Village among others.
The Global Active Adult (55+) Community Market Has Been Segmented into:
Global Active Adult (55+) Community Market: By Gender Outlook
Global Active Adult (55+) Community Market: By Region