An unparalleled demographic shift is taking place worldwide as record numbers of people are living longer—sometimes much longer. For food and beverage makers and retailers, this change opens up huge and exciting opportunities to reach a rapidly growing cohort with customized products and packaging targeted directly to its wants and needs. Smart messaging aimed at 'Elder Boomers' raises the ante even higher.
The numbers make a compelling case. The first Baby Boomers reached age 65 in 2011, and the rest will be following suit at a rate of about 8,000 a day until 2029, notes AARP. In developed countries, a jump of 51 percent in the number of people age 65 and older is forecast by 2030 according to the U.S. National Institute on Aging (NIA). In the U.S., the number of residents age 90 and older is set to increase to a projected 9 million, a rise of nearly 2 million by 2050, notes a U.S. Census Bureau report commissioned by NIA.