Beverage industry is wising up to an aging population
02 October 2014
Although historically the marketing of soft drinks was focused on the youth market with the key age bracket of 10-24 year olds, Canadean detects great opportunities in targeting the growing aging population.
According to the UN population division, the world’s older generation, those aged 60 and over, is expected to more than double, from 841 (11.7%) million people in 2013 to more than 2 billion (21.1%) in 2050. These numbers open doors to a potential market growth as older consumers want to stay healthy and have disposable income available for longer, especially in developed countries where independent living is far more common.
“It is all about the different approaches being taken by manufacturers”, explains Erica Shaw, beverage analyst at Canadean. “On the one hand, across Western markets in particular, manufacturers are launching more products with active ingredients to address health and vitality issues, but similarly, companies are looking into the more practical aspects of growing older, such as being able to lift and carry the products without a difficulty and designing more convenient packaging.”
Seniors are influencing innovation in functional drinks
Companies are using a mixture of scientific research, together with superfruits, botanical ingredients, vitamins and minerals, to develop anti-aging drinks which appeal to the older consumer. An example of this new wave of longevity drinks is Swiss drink, CellaNova. This product is a slightly carbonated mineral water, with pomegranate and cranberry juice and OM24, which is an all-natural product made from whole green tea leaves with antioxidant properties and claims to neutralise free radicals causing the aging process of cells. Moreover, the range of drinks from Vitamin Well also offers many options to address specific health issues, and includes vitamin B12, which is particularly recommended for elderly consumers to complement their diet.
Home delivery is on demand
The ease of carrying and pouring drinks is also being considered with older consumers in mind. In Spain, for example, bulk/HOD water companies are focusing more on household consumption rather than corporate clients. They have found that seniors appreciate the convenience of home delivery as it is easier to pour a glass from a water cooler, thus avoiding having to handle a big bottle. Furthermore in Portugal, Nestlé’ Waters Direct is promoting its compact MySpring water cooler especially to older consumers, who may not want to carry heavy packaged water all the way home.
Manufacturers are reshaping packaging formats
To assist senior consumers in their everyday lives, companies are developing convenient packaging solutions. Tetra Pak has received an “ease of use” certification for many of its products from the Swedish Rheumatism Association (SRA). An example is the “HeliCap”, a one-step screw cap designed to provide a good grip, which requires only low force to open and with a clearly visible tamper evident ring.
To date, Vitamin Well has launched six vitamin drinks: Three sweetened with stevia and three carbonated waters, all with different composition and taste. These drinks offer many options to help deal with specific health issues, and include vitamin B12, which is recommended for elderly consumers.
This information is based on findings from the Canadean Reports: ‘Soft Drinks Market Insight 2014 Spain’, published in May 2014; ‘Quarterly Beverage Tracker Quarters 1 and 2’ published in May and August 2014; and Canadean Ingredients Anti-Ageing Webinar - August 2014. All available via The Industry Report Store.
Population statistics are from UN Report: World Population Ageing 2013. Please get in contact if you have any questions to this or other Canadean reports. Analysts are available to comment. Contact the Canadean press office on +44 (0) 2079 366 713 or email firstname.lastname@example.org.