Business Growth and Structural Transformation in Aging-Friendly Product Manufacturing: Evidence from 2021-2022

Purpose :This study analyzes the growth and structural changes in the aging-friendly product manufacturing industry between 2021 and 2022. It explores business expansion, shifts in ownership, and sector-specific trends, aiming to determine statistical significance. Research Design & Data: Using secondary data from national statistical sources, the study conducts quantitative analysis through descriptive statistics, Chi-square tests, and paired T-tests. It examines business registration records across three sectors: Daily Living Products, Personal Healthcare Products, and Residential Equipment Manufacturing. Research Results: The industry experienced notable growth, with businesses increasing across all segments. A paired T-test (p = 0.0086) confirms that this growth is statistically significant. Individual businesses grew by 27.43%, especially in Daily Living Products (+3.5 percentage points). A Chi-square test (χ² = 2131.04, p < 0.001) reveals significant shifts in ownership structures, particularly the growing presence of corporate firms in Residential Equipment Manufacturing (+1.7 percentage points). Conclusion: The findings indicate a rise in entrepreneurial activity in consumer-focused sectors and corporate consolidation in capital-intensive areas. Policy initiatives supporting startups and SMEs, alongside regulatory and technological changes, have influenced these trends. Future research should investigate consumer demand patterns, long-term growth, and international comparisons to better understand the aging-friendly industry’s trajectory.