Ageing population trends and the flourishing nutraceuticals market
KPMG has recently written two reports which discuss the ageing consumer and the Nutraceuticals market. Partners from KPMG discuss how Nutraceuticals companies stand to make huge profits from their older consumers if they position themselves correctly in this fast evolving and high growth market. Nutraceuticals is a market sitting between Food & Beverage and Pharmaceuticals and thus poses interesting challenges for this demographic.
As much of the world faces rising rates of chronic lifestyle illness, in the UK alone, the potential cost of this to the NHS is over £10bn annually. The incentive for governments to focus on preventative care and for consumers to become more health-conscious is immense. Couple this with the fact the ageing population (65 and over) is set to double globally by 2035 to 1.1bn and then again by 2050 to 2bn, there is a fast growing market of functional foods, nutraceuticals and dietary supplements aimed towards this specific group of consumers.
In two recent reports, KPMG explores these trends and how food and ph ... ...