Riding the ‘Longevity Revolution’: How Brands Can Seize Opportunities in the Ageing Market
Source: DairyNews.today
As the global population ages, with life expectancies steadily increasing, the United Nations has dubbed this era the "longevity revolution." The World Health Organization predicts that by 2030, one in six consumers will be over 60, and by 2050, this demographic could reach 2.1 billion. This shift brings significant opportunities for brands, particularly in the health and wellness sectors.
Gen X Leading the Charge for Health-Boosting Products
Gen X (ages 45-59 in 2024) is at the forefront of the longevity market, driving demand for health-oriented food and drink products tailored to their age-specific needs. According to Jolene Ng, Principal Analyst at Mintel Food and Drink, Gen X consumers are more receptive to functional health benefits in food compared to Baby Boomers. For instance, 25% of Gen X in India express interest in health-boosted packaged food designed for specific age groups, compared to only 19% of Baby Boomers. This growing demand signals an opportunity for brands to cater to consumers seeking more than just longevity, but also improved quality of life.
Ng highlights that, while Gen X is expected to live longer than previous generations, they may face worse health conditions, such as age-related diseases and financial constraints. As consumers focus on extending their healthspan—the period of life spent in good health—brands have a crucial role to play in addressing these needs through affordable, nutrient-rich products that support healthy ageing.
Debunking Myths About Older Consumers
One of the challenges brands face in tapping into the ageing market is overcoming long-standing stereotypes about older consumers. For example, the assumption that consumers over 55 are not interested in trying new products is proving outdated. In Thailand, 61% of consumers over 55 express a desire for more age-appropriate food and drink options. Additionally, older adults are increasingly tech-savvy, with 70% of Chinese consumers over 55 reporting that they shop online independently.
Brands that continue to rely on these myths risk missing out on a lucrative market segment. Instead, companies should focus on developing products that meet the specific nutritional and health needs of "active agers," a growing group of older consumers who are keen on maintaining their fitness and well-being. These consumers demand tangible benefits in products, particularly those that promote overall health.
Capitalizing on ‘Pro-Longevity’ Solutions
The growing interest in biological ageing, particularly among Gen X and Older Millennials (ages 36-44 in 2024), opens further avenues for brands to innovate. This demographic is increasingly looking for solutions that go beyond traditional skincare, seeking functional food and beverages that promote longevity at a cellular level. In Japan, 26% of Gen X consumers are actively seeking beauty-related food and health information, reflecting a strong interest in products that support youthful vitality.
Brands are responding by incorporating ingredients such as plant-based collagen boosters and probiotics into their offerings. These innovations target skin health at a genetic and cellular level, appealing to consumers who prioritize science-backed solutions for healthy ageing. Positioning these products as part of a holistic "pro-longevity" lifestyle can help brands capture a growing market.
Engaging the ‘Sandwich Generation’
Gen X, often referred to as the ‘Sandwich Generation,’ is tasked with caring for both their ageing parents and their children. This presents a unique challenge for brands targeting seniors. In many cultures, adult children make purchasing decisions for their elderly parents. For instance, in Thailand, 61% of seniors over 71 rely on their children for food and drink purchases. This dynamic means brands need to adjust their marketing strategies to engage both generations, focusing on products that appeal to younger decision-makers while addressing the needs of the elderly.
In contrast, Western markets, where family members often live apart, may require a different approach. Brands can emphasize shared benefits that appeal to both seniors and their children, encouraging younger consumers to influence their parents’ purchasing decisions. This strategy ensures that products resonate across generations.
Looking Ahead: Innovations for an Ageing World
As the ageing population continues to grow, particularly in the Asia Pacific region, brands in the food and drink sectors must innovate to meet the evolving needs of older consumers. This includes developing products that extend healthspan, promote healthy ageing, and encourage pro-ageing attitudes.
A key distinction for brands is between senior-friendly and longevity-focused claims. Senior-friendly products should target the immediate health concerns of older adults, such as joint support and heart health, while longevity claims should emphasize preventive care backed by scientific research. This approach not only resonates with consumers over 45 but also attracts younger audiences interested in long-term well-being.
By embracing the longevity revolution, brands have the opportunity to build loyalty among ageing consumers while also appealing to younger generations focused on preventive health.
Gen X (ages 45-59 in 2024) is at the forefront of the longevity market, driving demand for health-oriented food and drink products tailored to their age-specific needs. According to Jolene Ng, Principal Analyst at Mintel Food and Drink, Gen X consumers are more receptive to functional health benefits in food compared to Baby Boomers. For instance, 25% of Gen X in India express interest in health-boosted packaged food designed for specific age groups, compared to only 19% of Baby Boomers. This growing demand signals an opportunity for brands to cater to consumers seeking more than just longevity, but also improved quality of life.
Ng highlights that, while Gen X is expected to live longer than previous generations, they may face worse health conditions, such as age-related diseases and financial constraints. As consumers focus on extending their healthspan—the period of life spent in good health—brands have a crucial role to play in addressing these needs through affordable, nutrient-rich products that support healthy ageing.
Debunking Myths About Older Consumers
One of the challenges brands face in tapping into the ageing market is overcoming long-standing stereotypes about older consumers. For example, the assumption that consumers over 55 are not interested in trying new products is proving outdated. In Thailand, 61% of consumers over 55 express a desire for more age-appropriate food and drink options. Additionally, older adults are increasingly tech-savvy, with 70% of Chinese consumers over 55 reporting that they shop online independently.
Brands that continue to rely on these myths risk missing out on a lucrative market segment. Instead, companies should focus on developing products that meet the specific nutritional and health needs of "active agers," a growing group of older consumers who are keen on maintaining their fitness and well-being. These consumers demand tangible benefits in products, particularly those that promote overall health.
Capitalizing on ‘Pro-Longevity’ Solutions
The growing interest in biological ageing, particularly among Gen X and Older Millennials (ages 36-44 in 2024), opens further avenues for brands to innovate. This demographic is increasingly looking for solutions that go beyond traditional skincare, seeking functional food and beverages that promote longevity at a cellular level. In Japan, 26% of Gen X consumers are actively seeking beauty-related food and health information, reflecting a strong interest in products that support youthful vitality.
Brands are responding by incorporating ingredients such as plant-based collagen boosters and probiotics into their offerings. These innovations target skin health at a genetic and cellular level, appealing to consumers who prioritize science-backed solutions for healthy ageing. Positioning these products as part of a holistic "pro-longevity" lifestyle can help brands capture a growing market.
Engaging the ‘Sandwich Generation’
Gen X, often referred to as the ‘Sandwich Generation,’ is tasked with caring for both their ageing parents and their children. This presents a unique challenge for brands targeting seniors. In many cultures, adult children make purchasing decisions for their elderly parents. For instance, in Thailand, 61% of seniors over 71 rely on their children for food and drink purchases. This dynamic means brands need to adjust their marketing strategies to engage both generations, focusing on products that appeal to younger decision-makers while addressing the needs of the elderly.
In contrast, Western markets, where family members often live apart, may require a different approach. Brands can emphasize shared benefits that appeal to both seniors and their children, encouraging younger consumers to influence their parents’ purchasing decisions. This strategy ensures that products resonate across generations.
Looking Ahead: Innovations for an Ageing World
As the ageing population continues to grow, particularly in the Asia Pacific region, brands in the food and drink sectors must innovate to meet the evolving needs of older consumers. This includes developing products that extend healthspan, promote healthy ageing, and encourage pro-ageing attitudes.
A key distinction for brands is between senior-friendly and longevity-focused claims. Senior-friendly products should target the immediate health concerns of older adults, such as joint support and heart health, while longevity claims should emphasize preventive care backed by scientific research. This approach not only resonates with consumers over 45 but also attracts younger audiences interested in long-term well-being.
By embracing the longevity revolution, brands have the opportunity to build loyalty among ageing consumers while also appealing to younger generations focused on preventive health.
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