LAS VEGAS—Those age 55 and older are the top users of supplements and the lowest users of functional foods and beverages, according to A. Elizabeth Sloan, Ph.D., president, Sloan Trends & Solutions Inc. Supplement manufactures that provide multifunctional products and innovative technologies will do the best among this lucrative market base, she said at a presentation at SupplySide West.
One hundred million Americans—one-third of the population—are older than 55. They are looking for supplements that are effective and, unlike the previous older generation, they are not afraid of technology. These consumers are interested in technologies that increase bioavailability and efficacy.
This population consists of pill poppers because they are used to associating health benefits will a daily capsule or tablet. Capsules are still the most popular, but Sloan said it’s time to modernize pills. Vitamin and supplement uses are interested in pills that are easy to swallow, work quickly, leave no bad aftertaste and gentle on the stomach. What’s noteworthy is that price was quite low on the list.
The older 55 and older population are the least likely to buy functional foods. “It’s still very much a pill-popping world," for this population, Sloan said. This population is most likely to pop those pills to address high cholesterol, high blood pressure, asthma/bronchitis, obesity and heart problems or stroke.
Stomach remedies are increasingly important to the older generation as well. Right now would be a great time to launch a prebiotic product that addresses digestive health, Sloan said. Multifunctional supplements work well with the growing trend of diabetes, as diabetes consists of a number of associated health issues such as stroke, heart disease, blood pressure, arthritis, blindness and kidney failure.
Joint pain and arthritis also encompasses many health issues, as arthritis can consists on back, neck, knee, ankle, foot and finger pain. The older age group is also interested in supplements that help address sleep and energy concerns.
Allergies, headaches and muscle/joint pain are chronic diseases that consumers look for relief in supplements and OTC drugs, Sloan said. The older generation is looking to reduce body fat and wants to increase tone; supplements that contain protein and other ingredients that help build muscle will be big trends in the upcoming years, she said. The Boomers are the number one population that is looking to sculpt their bodies.
Sloan also noted pre-diseases could be a place for market growth, such as prediabetes, premenopause, etc.
