Core Viewpoint - The "silver economy" is gaining attention at the China International Import Expo, with various exhibitors showcasing products and solutions aimed at addressing the challenges of an aging population, indicating a significant market potential and societal need for comprehensive support [2][3][6]. Industry Overview - China's elderly population is large and growing rapidly, with the silver economy market expected to reach 8.3 trillion yuan in 2024 and surpass 20 trillion yuan by 2030 [3][6]. - Sales of elderly nutrition and health products, as well as health monitoring devices, have seen significant growth, with increases of 30.1% and 7.5% respectively in the first half of the year [3]. Company Initiatives - IKEA is actively exploring collaborative models with social designers, care centers, communities, and government agencies to support the silver economy, launching the "Elderly-Friendly Living" project in Shanghai in 2024, which has already served over 2,000 elderly families [2][8]. - The company has introduced over 500 lower-priced elderly-friendly products, with sales of these items increasing by over 50% compared to the previous year, indicating strong consumer demand [8]. Product Innovations - IKEA has designed specific areas in its showroom for the elderly, including the BÄSINGEN series, which features safety-focused bathroom products [3][4]. - Panasonic is integrating technology with elderly care solutions, showcasing a sleep system that uses smart sensors to monitor sleep data and adjust environmental parameters for better comfort [4][6]. Market Trends - The silver economy is being recognized as a new economic growth driver, with policies supporting its development, as highlighted in the recent national planning documents [6][7]. - The industry is witnessing a shift towards addressing the needs of the elderly, with companies like IKEA and Panasonic leading the way in product development and service offerings [8][9]. Challenges and Opportunities - Despite the positive outlook, the silver economy faces challenges such as a shortage of skilled workers in the elderly care sector, which impacts service quality and standardization [9]. - There is a growing emphasis on training and developing a new generation of care professionals to meet the increasing demand for elderly services [9].