The World Health Organization estimates that by 2030, one in six consumers will be over the age of 60, and by 2050, this demographic is projected to double, potentially reaching 2.1 billion.
Gen X, who are aged 45-59 in 2024, is at the forefront of driving demand for health-boosted and age-relevant food and drink products. They are notably more open to functional health support from food than the preceding generation.
For instance, Mintel research shows that 25 per cent of Gen X in India are interested in health-boosted packaged food tailored for specific age groups compared to 19 per cent of Baby Boomers. In Australia, 41 per cent of those aged over 55 say they would be much more motivated to buy healthy food and drink products that could help them live longer.
Research has shown that Gen X live longer but are in worse health than previous generations. More than lengthening lifespan, consumers are also increasingly focused on improving the quality of their health, which is the period of one’s life spent in good health because with longer lifespans comes challenges, such as a higher risk of age-related diseases and potential financial difficulties.
Thus, the opportunities are in healthy ageing, investments in the longevity industry, and consumer interest in preventative care.
Data from Mintel Global New Products Database shows that less than 1 per cent of global food and drink launches have targeted over 55s each year since 2019. This may be in part due to the long-held myths and stereotypes about older consumers.
For example, contrary to the belief that they don’t like to try new things, many are open to new experiences, especially if these enhance their quality of life in areas like health and fitness.
A significant portion of Thais over 55 (61 per cent) express a desire for more age-appropriate food and drink varieties. Additionally, there’s a misconception that this demographic is not tech-savvy. In China, 70 per cent of those over 55 say they can independently shop online, indicating that this cohort is actively adopting the digital landscape.
Brands that hold onto these myths may miss significant opportunities.
For example, brands can rethink the opportunity for older snackers, particularly those ‘active agers’ who are keen on maintaining their health and fitness. Brands should be aware that these savvy older consumers will be looking for tangible product benefits to denote true nutrition credentials that are relevant to them.
Additionally, there is a rising consumer interest in biological ageing, particularly among Gen X and Older Millennials (aged 36 and 44 in 2024), as they look for ‘pro-longevity’ solutions beyond traditional topical products. Over a quarter (26 per cent) of Gen X in Japan seek beauty-related food and health information, indicating substantial market engagement.
Brands are leveraging plant-based collagen boosters (e.g. flavones and fermented extracts) and ingredients that regulate skin ageing at a genetic and cellular level, like probiotics and nicotine mononucleotide (NMN), as evidenced by recent patent filings. Highlighting these ingredients can position brands at the forefront of the growing market for effective ‘pro-longevity’ solutions.
Brands should also consider the ‘Sandwich Generation’, typically Gen X, a term often used to describe middle-aged consumers who care for multiple generations of family members. Brands will need to adjust the marketing of products for elderly people in cultures where adult children are decision-makers for their ageing parents.
For example, 61 per cent of Thai seniors aged over 71 rely on their children to make their food and drink purchases. To address the needs of seniors post-retirement, engaging their children directly can be a complementary strategy.
Conversely, in Western markets, where families are more likely to live apart, the strategy might differ. Here, brands can focus on shared benefits that appeal to both seniors and their children, encouraging the younger generation to influence their parents’ purchasing decisions.
With the ageing population in Asia Pacific and globally, food and drink brands will need to innovate to address its implications, focusing on extending healthspan, promoting healthy ageing and helping consumers embrace pro-ageing attitudes.
Brands can benefit from distinguishing between senior-friendly and longevity-focused claims. Senior-friendly claims should target the specific needs of older adults, addressing immediate health concerns like joint and heart health.
These claims can resonate with consumers aged over 45, who are more concerned about age-related health issues. On the other hand, longevity claims emphasise preventive health by highlighting ingredients and formulations that support long-term well-being, backed by scientific research. Such claims can attract a broader audience, particularly younger consumers interested in preventive health.
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