Seniors

Seniors and their need for healthy ageing

Senior nutrition has become the key driver of innovation in the food and health market with consumers over 50 already making up the most important group of buyers for most health brands, says New Nutrition Business.

According to NNB, as the pressure on healthcare systems builds, consumers will more and more be expected to take steps to manage and preseve their own health and independence.

And healthcare costs are not a problem in the distant future – the problem is here already. Healthcare budgets are being eaten up by the costs of caring for people over the age of 70 and who are in the last two years of their life:

  • In Brazil over 70% of healthcare costs are incurred in the 12 months before death
  • In the US acute hospital care accounts for 55% of spending on Medicare beneficiaries in the last two years of their life
  • In Europe healthcare in the last two years of life adds up to 80% of healthcare costs

For industry, the attractions of seniors include:

  • They are ideal for science-based companies because they want something that actually works and fixes a problem, not a vague promise of “wellness”.
  • When they commit to a brand they become very loyal customers with repeat purchase rates of 80% and better – compared to 45% more the most successful brands targeting families and younger consumers.
  • They are a low-volume, but high-value market, because they are willing to pay for products that actually deliver the benefits they need. They are at a life-stage where they prioritise their household budget around looking after their health.

And that is how our market is likely to be for some years to come.

In this six-minute video interview at a recent industry conference on Healthy Ageing – held in Amsterdam and organised by Bridge2Food – New Nutrition Business’s founder and CEO, Julian Mellentin, talks about a few of the key issues for anyone developing a product for seniors:

  • Feel the benefit
  • Taste and texture
  • How to make protein more convenient for the over-70s
  • And how to manage senior management’s unrealistic expectations of quick success

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About New Nutrition Business

Julian MellentinNew Nutrition Business is a London-based research, publishing and consulting company which specialises in researching, analysing and forecasting developments in the business of food, nutrition and health around the world.

The strategies and success factors it  has identified in the 1990s have become the benchmarks for strategy development and brand positioning in the worldwide nutrition business. It works with companies all around the world, from the United States to Australia and from Sweden to South Africa.

New Nutrition Business is headed by executive director Julian Mellentin (right), one of the world’s very few global specialists in the business of food, nutrition and health.

He is the editor-in-chief of New Nutrition Business and Kids Nutrition Report, the only industry journal in the world on the rapidly developing kids’ nutritional marketplace. See www.new-nutrition.com