Most grocery stores have an entire aisle dedicated to infants and young children. Packaging of many food brands is designed specifically to appeal to younger generations, while flavors and potential health benefits of food products cater to the 18-34 age group that’s been deemed the “most important” by advertisers and marketers the world over. In other words, the food business has often overlooked a huge portion of the population that is getting grayer, with tastes and dietary needs that don’t necessarily align with what’s on grocery store shelves.
Food manufacturers are aware that they skew younger when it comes to conceiving new products and developing marketing campaigns. Snacking giant Mondelez International refers to the retired segment of the population as “second lifers” and previously forecast that food companies would begin catering more to their needs and tastes.
In a 2023 report, Mondelez notes that the number of people over 60 is expected to double to 2.1 billion by 2050, representing some 22% of the global population. “The age group wants food that supports healthy aging and an active lifestyle, putting the spotlight on balanced nutrition options,” Mondelez said in the report.
Still, when asked recently about its own product line-up, a spokesperson indicates that the study results have not shifted Mondelez’s priorities. “Most of our brands are more focused on marketing to Gen Z and Millennials, and specific products for an aging population is not a priority for Mondelez at this time,” a spokesperson told Just Food.
Other industry insiders readily admit that very little attention is currently being given the over 60 crowd beyond specialized products, like nutrition shakes. Alex Rosenthal, a director at Verlinvest, a family office that manages the family-controlling shareholders of brewing giant AB InBev, thinks big food brands are waiting for the right moment to enter the space. Rosenthal notes that people over 60, which are becoming the largest demographic, not only control the most wealth, they tend to have more specialized dietary needs.
However, most food companies are not innovating in the category. Instead, Rosenthal says, “They’ll be waiting for the next class of brands to arise that serves that need, and then they’ll start acquiring once there’s scale and that hasn’t happened yet.”
Interestingly, a big problem for older people is malnutrition. Malnutrition in older adults can be caused by a variety of factors, including loss of appetite, lack of ability to chew and swallow, and increased use of prescription medications. Other risk factors include depression, dementia, and, notably, a lack of access to nutritious food.
While malnutrition is harmful at any age, it impacts older adults especially hard. When an older adult is malnourished, it leaves them vulnerable to increased risk of falling, slower recovery times, possible hospitalizations, re-hospitalizations, and even death.
The opportunities are not limited to just the food products themselves, either. Experts say everything from packaging and portion size to ease of use can be reimagined to accommodate the needs of older generations. Senior advocates say microwaveable meals, larger print on packaging, and easier to open packaging are just a few of things that would appeal to seniors.
The trickiest part of gearing products toward a more mature demographic might be marketing. Rabobank’s Cyrille Filott notes that you can’t market products to people saying, “your’e old, so this is what you need to do.” Many food companies are relying on their “health and wellness” products to overlap with the priorities of older shoppers.
Rosenthal says it is just a matter of time before the category really catches the attention of the big food giants. “The market tends to gravitate around success stories and there hasn’t been one yet. Sometimes all it takes is one great challenger brand that has an interesting product, with a new positioning towards new populations to start to really excite and get the creativity flowing.” (Sources: Just Food, National Council on Aging, Faster Capital)
