Aging Consumers Will Soon Be the Top Market for Every Wellness Sector
By Thierry Malleret, economist
For those wellness industry entrepreneurs and practitioners who take a somewhat longer-term view, demographics is about to bring momentous changes. Globally, a fast-growing aging population is going to make the wellness “imperative” ever more pressing.
In the next 15-20 years, the global population aged 65 and over will increase by about 500-600 million people, most of them willing to dedicate a substantial portion of their income to maintain their health and an active and healthy lifestyle.
Put simply: The market aiming to help older and less able individuals to remain active, healthy and “well” will expand dramatically. Older consumers will become THE major driver of opportunities for wellness companies in all sub-segments of the industry—from beauty to preventative healthcare to wellness tourism and well-tech.