The food and beverage industry has a significant opportunity to cater to the nutritional needs of older consumers and contribute to their long-term health and well-being.
With the population of individuals aged 65 and above expected to reach nearly 150 million in Europe by 2050, there is a growing cohort of older consumers to target.
Surprisingly, new product launches specifically tailored to this demographic remain scarce. In 2021, only 0.0005% of new product launches in the food and beverage and health and hygiene sectors were directly aimed at individuals aged 55 and above, according to market researcher Mintel.
The Scarcity of Products Aimed at Older Consumers
So, why the hesitancy? Brands have traditionally avoided targeting older consumers, as they tend to purchase products aimed at younger individuals but not vice versa.
The desire to maintain a sense of youthfulness often discourages us from acknowledging our own aging process. However, given the shifting demographics towards an aging population, it may be time for brands to embrace the opportunity and develop products that directly address the health and nutritional needs of older consumers.
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Professor Louise Dye from the University of Leeds, a Chartered Health Psychologist specializing in nutrition’s impact on cognitive function, decline, and overall well-being, highlights the importance of specific ingredients for cognitive health as we age. Theanine, amino acids, polyphenols, and omega-3s are among the components being explored for their potential benefits.
“Fiber intake is really important, not just for nutrients but also for brain health because it lowers glycaemic response, and we know that obesity and type 2 diabetes that lead to cognitive decline are related to that poor regulation of blood glucose. ”
Importance of Eating a Rainbow for Aging People
Maintaining a diverse diet, often referred to as “eating a rainbow,” is crucial for aging individuals. Polyphenols found in fruits and vegetables have demonstrated positive effects on cognitive function, blood flow to the brain, digestive function, and nutrient absorption. Additionally, fiber intake plays a vital role in maintaining brain health and regulating blood glucose levels, which are associated with obesity, type 2 diabetes, and cognitive decline.
Overcoming Traditions: Shifting Perspectives on Aging
The focus on healthy aging should start as early as possible, even during pregnancy. Research suggests that a mother’s diet during pregnancy can impact her child’s preferences throughout life. Early intervention and a proactive approach are necessary to prevent cognitive and physiological decline later in life.
In terms of market potential, the example of Seaweed & Co, a supplier of seaweed-based ingredients, sheds light on the increasing interest among women over 40 in their health and well-being. This demographic segment demonstrates greater brand loyalty and a willingness to invest in products that support their specific needs.
Seaweed Plays an Important Role on Cognitive Function
Seaweed, being a natural source of iodine, addresses iodine deficiency prevalent among a large percentage of women. The nutrient is linked to cognitive function, thyroid health, skin health, and energy metabolism.
Iodine, a nutrient that is severely lacking in the majority of the UK and Europe, is only naturally occurring and good for consumption in seaweed. According to Rose, iodine deficiency affects 60–84% of women depending on their stage of life.
There are medical claims that iodine is linked to energy and metabolism, thyroid health, skin and nervous system health, and cognitive function,” he continued. Seaweed gives a fairly simple natural technique to add it back into the diet because of that deficiency.
Avi Roy, Co-Founder of the ‘longevity’ drink UDA, which contains ingredients including ashwagandha, the amino acid l-theanine and antioxidant curcumin, said the product is typically bought by males over 53 and women between 40-75.
Health by Stealth: Transitioning to Healthier Diets
While the development of specific healthy aging products is essential, Professor Dye suggests taking a “health by stealth” approach, similar to the sugar and salt reformulation efforts. Older adults are often resistant to dietary changes due to deeply entrenched habits. By enhancing familiar and trusted foods with the necessary nutrients, it becomes possible to transition individuals to a healthier diet without sacrificing taste and familiarity.
Bridging the Gap: Affordable and Nutritious Options for All
Furthermore, there are opportunities to improve access to affordable and nutritious food for lower-income groups. Adequate fiber intake, for instance, remains low across the board, particularly among individuals with limited financial resources.
Addressing these disparities and exploring innovative packaging solutions that cater to the needs of older consumers can further enhance their overall food experience.
Note: It is essential to consider packaging designs that are easy to open and accessible for older individuals to ensure they can fully enjoy and engage with the product. Failure to do so may result in older people discontinuing the consumption of certain products due to packaging difficulties, as cautioned by Varela.
Seizing the Opportunities in the Aging Market with GEO Commerce’s Consultancy Services
In conclusion, understanding the nutritional requirements of older consumers and developing products that cater to their specific needs present a significant opportunity for the food and beverage industry.
As a leading provider in the field of commerce, GEO Commerce is committed to helping businesses navigate these opportunities and challenges, providing consultancy services to meet the evolving demands of this growing market.