Consumers are more willing to spend money on functional foods as they age, according to Laura Jones, global food science analyst with Mintel, who presented “The Impact of an Aging World” at Vitafoods in Geneva, Switzerland.

Consequently, consumers over the age of 55 will become “the most coveted and influential demographic,” even though currently the majority of marketers focus on younger consumers.

“Seniors want to look good, be fit and be healthy more than ever before,” said Ms. Jones. And they have the spending power to achieve those goals.

In the U.S., disposable income among those aged 55-64 is twice that of consumers under the age of 25. In the U.K. those aged 50-64 spend 50% more on foods and drinks compared to those under 30.

Ms. Jones predicted that functional foods designed to address the varying concerns of seniors could begin replacing over-the-counter medicines.

Weight loss and cardiovascular health are key health targets for seniors. Bone health is also a growing concern as populations age.

In terms of cognitive health, neuro-degenerative disease rates are expected to rise steadily in the next decade as a result of an aging population, Ms. Jones noted.

Loss of appetite is an additional concern, opening up opportunities for nutritionally dense foods and drinks offered in smaller servings. Expect to see protein utilized in untraditional formats.

Lastly, digestive health is a considerable concern among aging consumers, as 87% of consumers 65 and older say maintaining a healthy digestive system is very important. Pre/probiotics and fiber continue to perform well in the digestive health category.