TrendSights Analysis 2024: Aging Populations

TrendSights Analysis 2024: Aging Populations

Summary

This report investigates the origins and effects of aging populations and how FMCG brands can cater to changing consumer needs

Consumers are living longer, and age-related concerns are becoming more prominent across all generations globally. Brands across sectors are addressing the challenges and seizing the opportunities arising from aging populations. Sectors with high relevancy like beauty and grooming are making notable changes, while even sectors with low relevancy, like tobacco, are making informed changes to product development and operations.

Scope

• Consumers are addressing age-related concerns by choosing foods that have a positive impact on health and wellbeing.
• Younger generations are breaking down traditional norms around drinking cultures in pursuit of healthier lifestyles.
• Functional ingredients, which are generally viewed by consumers as health-enhancing, are common in non-alcoholic beverages.
• Age-related concerns are shifting to younger consumers, who are spending more on make-up and skincare.
• Household care brands are aligning with the needs of aging consumers by improving convenience and accessibility features.
• Despite the habitual nature of smoking having no clear link to age, younger consumers are generally smoking less.
• Accessibility improvements in restaurants can help to increase the number of elderly consumers dining out.
• Retailers are leveraging AI to improve accessibility as well as shifting production priorities to align with aging populations.
• Simple, non-flashy branding is more likely to resonate with older consumers, who also value sustainable and ethical credentials.

Reasons to Buy

• Understand the relevant consumer trends and attitudes that drive and support innovation success so you can tap into what is really impacting the industry.
• Gain a broader appreciation of the fast-moving consumer goods industry by gaining insights from both within and outside of your sector.
• Access valuable strategic take-outs to help direct future decision-making and inform new product development.