According to a new market research report published by sheer analytics and insights, “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, as per the latest market research report titled Active Adult (55+) Community Market - Global industry analysis, size, share, growth, trends, and forecast, 2021-2031.
Active Adult Communities include single-family homes, townhomes, cluster homes, manufactured housing, and multifamily housing. There are two types, one is age-restricted, and the other is age-targeted. The increasing interest of older adults below 65 years of age towards a maintenance-free lifestyle, socialization, structured activities, and a sense of community are the significant factors driving the market. 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, with increased life prospect, and the desire to live in an independent living facility for a maintenance-free lifestyle is expected to drive the market growth over the forecast period.
However, the current pandemic of the COVID-19 makes some changes in the growth of the active adult communities’ market. But it has been expected that after the pandemic situation, the global active adult communities’ market will reach a high position in the graph. Apart from that, the rising of the active adult communities’ sector across the world is anticipated to offer a massive opportunity for market growth in the next forecast period of 2021 to 2031.
Geographically, The Active Adult (55+) Community Market is divided into global regions like North America, Europe, Asia- Pacific, Latin America, Middle East, and Africa.
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