The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
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Learn moreNov 2016
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Societies are ageing rapidly, healthy life expectancy is longer, and people are looking and feeling younger than ever before. What do more mature populations mean for economies, companies and consumers? This first of two reports looks at the demographics and their impact on society, while a second report will take a deeper look into consumer behaviour and the ways in which people are challenging ageing.
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Over 12% of the global population is now over 60. The median age is 29.6 years and is expected to rise to 30.8 years by 2020, as a result of lower birth rates and increased longevity. Global life expectancy has risen to 72 years, thanks to better healthcare and disease prevention.
The wealth and wellbeing of the elderly population varies widely across the globe but, on average, over 60 shave higher gross incomes than the population as a whole. This makes them an attractive market for a range of goods and services that suit their changing needs.
Ageing has led to shrinking workforces, thus squeezing public finances and putting pressure on social safety nets and healthcare systems. This has led to measures such as increasing the retirement age, raising taxes and reducing pensions.
Baby boomers will change the landscape of elderly care, having lived their lives in times of greater independence, affluence and technology. The biggest growth opportunities in elderly care lie in assisted living and at-home services.
Ageing consumers are paying increased attention to preventative health, including exercise, nutrition and mental wellbeing. This offers opportunities for growth in markets such as health and wellness foods and services, vitamins and dietary supplements, OTC medicines and fitness products.
Older people are embracing technology, from robotic carers to assistive devices, smart devices, wearable tech and a host of apps to make life easier for those with increased leisure time and reduced mobility.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.