Baby boomers and other older consumers who grew up with cereals, soups, and sodas represent an increasingly valuable market for food and beverage companies, despite often being overlooked. While millennials have caught the attention of food manufacturers with their demand for healthier and more natural options, older shoppers possess greater disposable income and purchasing power. Grocery store aisles remain filled with brands from their childhood, making it essential for food producers to adapt their products, packaging, and marketing strategies to cater to mature adults, lest they lose billions in revenue to competitors.
“The older consumer segment is still the key sales driver of those types of items,” stated Lori Bitter, founder of The Business of Aging consultancy, in an email to Food Dive. The baby boomer generation, whose earliest members turned 65 in 2011, has raised the median age of U.S. consumers from 35.3 years in 2000 to 37.9 in 2016, according to the U.S. Census Bureau. With 8,000 boomers reaching the age of 65 daily, this generation is redefining aging by remaining active, prioritizing health, and delaying retirement.
Despite their significant purchasing power, older adults are frequently neglected by food companies, which are primarily focused on younger generations. According to Alexandra Lewin-Zwerdling, vice president of research and partnerships for the International Food Information Council, “Older adults have long been forgotten in terms of their purchasing power and the attention they’re given regarding their health, nutritional needs, interests, and values.”
The changing dynamics of family life often lead older consumers to alter their food preferences. Many now cook for one, necessitating smaller portions, and may struggle with strength, making the ease of opening cans and jars more crucial. Thus, packaging and resealability become as significant as the nutritional content itself.
Older consumers account for a considerable share of the nation’s wealth and spending. Nielsen reports that boomers make up 49% of all spending on consumer packaged goods, amounting to approximately $230 billion annually, and they dominate nearly every CPG category. As they continue to redefine life stages, they seek food products that support their active lifestyles.
While millennials may attract the most attention from manufacturers, older consumers have distinct perceptions and attitudes toward food that should not be overlooked. “Older adults’ favorite foods don’t change when the calendar pushes them past 50,” Bitter remarked. However, the onset of chronic conditions such as diabetes and heart disease may necessitate nutritional guidance.
A 2017 survey by the International Food Information Council Foundation revealed that older Americans (aged 50+) are more likely to reduce their intake of saturated fats and salt, increase whole grain consumption, and choose low- or no-fat dairy alternatives compared to their younger counterparts. They are also more interested in foods that offer health benefits like weight management and cardiovascular health.
Taste remains a vital component of food for older consumers. Bitter notes, “One of the biggest misconceptions is that flavor profiles need to change.” This sentiment is echoed by registered dietitian Abby Sauer of Abbott, who emphasizes that taste is crucial for any nutritional product to be effective.
For instance, General Mills has patented a new method for fortifying cereals, allowing for higher calcium and dietary fiber content without compromising taste or texture. This innovation could provide a competitive edge as more consumers, particularly older ones, seek easy and enjoyable ways to incorporate essential nutrients into their diets.
While older adults may not gravitate toward the latest food trends, they should not be disregarded. David Sprinkle, research director at Packaged Facts, describes older adults as “old school” in their food preferences. As the concept of “aging well” gains traction, experts foresee a growing market for functional and fortified foods.
Health, energy, and wellness are primary goals for boomers and older adults, who increasingly recognize the importance of a healthy diet in prolonging their active years. They tend to seek foods that can help prevent or alleviate age-related conditions such as heart disease, diabetes, and obesity. Key nutrients like plant proteins, omega-3 fats, fiber, vitamin D, and magnesium can make food products more appealing to this demographic.
Bitter commended Campbell’s for successfully shifting toward healthier options and establishing itself as an ingredient brand in meal preparations. Their heart-healthy soups, loaded with vegetables and whole grains, are examples of products that align with the preferences of older consumers. Additionally, their V8 beverages offer a variety of health benefits, including being low in sodium and high in fiber.
Other companies, such as Nestlé and Hormel, are also adapting to the needs of older consumers by developing functional foods. Nestlé has invested significantly in research to create medical foods that provide essential nutrition for chronic diseases, while Hormel’s Vital Cuisine line targets cancer patients with ready-to-eat meals and nutrition shakes designed to meet their specific needs.
The packaging of food products is another critical consideration for older consumers. Many seniors prefer easily opened packaging and appropriately sized portions, as they may not want large quantities of food or may be on fixed incomes. Features like resealable packaging are particularly popular among these shoppers.
Companies like Abbott are continually refining their packaging to enhance user experience, ensuring products are easy to open and consume. Their Ensure bottle redesign has improved grip and ease of use, catering to older consumers’ preferences.
Food manufacturers face the challenge of creating products that appeal to a wide audience while tailoring marketing strategies to resonate with different age groups. Striking this balance is no easy task, but it is essential for success in today’s food industry.
Incorporating specific products, such as bluebonnet liquid calcium citrate, into offerings can also address the nutritional needs of older consumers. As manufacturers navigate these complexities, they must acknowledge the growing importance of functional foods and adapt their strategies accordingly to meet the demands of an aging population.