The increasing aging population across the world is driving the demand for anti-aging products and services and taking preventative measures to delay the signs of aging. Born between 1946 and 1964, there are approximately 450 million baby boomers worldwide (source: MIT AgeLab). THE OVER-50 SEGMENT IS THE FASTEST GROWING GLOBAL POPULATION AND PREDICTED LIFE EXPECTANCIES ARE HISTORICALLY HIGH.
In the United States, someone turns 50 once every seven seconds. Over the next few years, 50% of Europe’s population will be age 65 and older. In Italy, retirees will outnumber active workers by 2030. By 2050, the average age in Thailand will increase to 50. (Source: MIT AgeLab.) And in the U.K., baby boomers currently number 20 million and hold 80% of the nation’s wealth (source: BBC). Recent statistics suggest that Japan has more than 36,000 citizens aged over 100. In countries in the Asia Pacific region, the population of individuals aged 65 and older is increasing at almost double the speed of the same population in the U.S. and Europe.
GLOBAL MARKET GROWTH TRENDS
- The trend toward healthy living into old age has been impacting beauty and wellness industries, and the companies that offer products and services to postpone the effects of aging will witness the strongest demand in the upcoming years.
- The aging population is increasing across the world, and younger consumers are entering the market hoping to preserve their youth before the onset of aging.
- The development of more effective anti-aging formulas help sustain the demand momentum.
- Consumers are increasingly sophisticated and global. They are ethically concerned, environmentally conscious, and keen on preventing aging through scientific progress.
- HIGHER PER CAPITA SPENDS ON ANTI-AGING PRODUCTS IN MATURE MARKETS TURBO CHARGE THE DEMAND FOR PREMIUM PRODUCTS.
- Increased market penetration in emerging markets such as Asia Pacific and Latin America is upheld by the increase in disposable incomes.