The economic downturn, increasing health-care costs, an aging population and mounting interest in attaining good health through diet are all helping to drive consumers’ interest in getting more functionality from their foods. Coupled with an increased desire to take more responsibility for their health, consumers are gravitating toward healthier diets and looking for alternative ways to manage and prevent illness, which has resulted in an increased demand for foods with functional health benefits.
Older consumers have been specifically influential in driving the growth of functional foods, not only to delay aging and prevent disease, but also due to a level of uncertainty about the future of health care. In fact, about seven out of 10 Boomers indicate they are taking more responsibility for their health because they are unsure of the future of the health care system, and because they can’t afford to get sick.
It is therefore not surprising that Boomers and Matures have been instrumental in driving the growth of products that address their main health concerns (Figure 1). In fact, brands that address digestive, heart and joint issues are showing strong growth rates even during this economic recession and despite premium pricing. Two examples include Danone’s Activia for digestive health and General Mills’ Fiber One breakfast cereal brand. In essence, older adults see products that provide a benefit they need as a good value for the money and are willing to pay for them.
