The number of people aged 65 years or older has surpassed those under five globally for the first time since 2018, according to United Nations data.
The number of countries with over 20% of the population aged 65 or above is estimated to rise from 15 last year to 44 by 2030, according to the U.N.
Clearly, CPG companies are taking note of those numbers, and are increasingly directing their sales pitches at senior citizens.
HOW CPG COMPANIES ARE TARGETING ELDERLY CONSUMERS
The COVID-19 pandemic has disproportionally harmed older people, highlighting the importance of healthy living later in life.
And, society’s increased focus on healthy living later in life is leading consumer goods companies such as Nestle and Danone to launch products aimed at that demographic, reported The Wall Street Journal (Jan. 30). For example, Nestle recently introduced a powdered milk drink in China under its Yiyang brand which it says enhances mobility during aging.
About 20% of Nestle Health Science’s research budget is now dedicated to aging. Meanwhile, Danone is setting up a new healthy-aging unit to accelerate research on how nutrition impacts cognition of mobility. That company recently launched Fortifit Pro in Brazil, which is a whey-protein product that claims to aid muscles, joints, and bones.
“We clearly see healthy aging, even more now with the COVID world, as a huge trend,” Danone Chief Executive Emmanuel Faber told The Wall Street Journal.
WHAT WILL THE ELDERLY BE EATING IN THE FUTURE?
A report released by Norwegian research firm Nofima recently discussed what and how the elderly will be eating in 2030. “One of the key findings in our report is that both young and elderly people want to eat the same dishes as those that they prefer and preferred when they were young,” said Ida Synnøve Grini, Senior Nutrition Advisor Food, Health, Innovation and Consumer at Nofima.
The report notes that older people will not see many radical changes on their plate, even in light of major technological advances. This provides opportunity for manufacturers to increasingly adapt food to suit individuals.
Another important finding is that older adults will not want to take pills or injections to get the benefits of nutrients in food. They will, reportedly, want to enjoy their food for how it smells, tastes, and looks.