With Boomers getting older, and younger consumers focused on longevity, the market for healthy aging products is ripe for innovation. It is imperative for the health and nutrition industry to address cognitive health, ingredients that support activity and wellness, and bone health.
Ten thousand Baby Boomers turn 65 years old every day, according to the Transamerica Retirement Survey of 2013. Not only are more people turning sixty, but the ones that do are living longer. By 2050, the population aged 65 and over is projected to be 83.7 million, almost double its estimated population of 43.1 million in 2012, according to the U.S. Census Bureau report “An Aging Nation." With this increase in population longevity, it is no surprise that Baby Boomers have embraced the adage of 70 is the new 60 and 80 is the new 70.
The typical Boomer believes that old age does not begin until age 72, according to a 2009 Pew Research survey. Also, while about half of all adults said they feel younger than their actual age, 61 percent of Boomers said they are feeling spryer than their age would imply. In addition, 65 percent of Baby Boomers plan to work past age 65. This is possibly due to the increase in the life expectancy and the ability to work for longer, or perhaps related to worries about Social Security and Medicare, as well as the abundance of financial support they give to adult children. Either way, our population is working and living longer.
Therefore, it is because of these changes in the mentality, life expectancy and strain on financial situations that people are looking for supplements to help them with their day to day life and to help them live longer.
Omega-3 fatty acids DHA and EPA
This supplement is derived from several different sources including plants, beef and seeds. The most well-known and highest concentration comes from fish and other types of seafood. Some of the benefits of taking omega-3 fatty acids DHA (docosahexaenoic acid) and EPA (eicosapentaenoic acid) is a reduction in the level of triglycerides,1 relieving the symptoms of rheumatoid arthritis,2 and in slowing the progression of the age-related macular degeneration.3
Magnesium has been found to help with bones, cardiovascular system, diabetes and several other bodily functions. In addition, magnesium has been found to help with migraine headaches,4 and low magnesium levels are linked to increased anxiety.5 Aside from supplementing with magnesium there are several foods that are good sources such as almonds, spinach, peanut butter, bananas and black beans.
Calcium is vital for bone health. With an aging population that is remaining active, it is imperative for Baby Boomers and the aging Millennials to supplement with calcium and to make sure they are absorbing enough calcium in to their diet. Not only is calcium vital for bone health6 but it has also been found to be beneficial in protecting against colon cancer7 and for weight control.8
A lack of Vitamin D due to poor diets or lack of sunshine because the population is either working or living mostly in doors has become a real issue for the aging populations health. Several studies link low vitamin D levels with an increased risk of fractures in older adults.9 Vitamin D in high dosages has been proven to help protect against heart disease10 and cancer,11 and help with the development of muscle,12 a critical factor in mobility as we grow older.
Cannabidiol (CBD) is a chemical compound from the cannabis plant. It is a naturally occurring substance used in products like oils and edibles. Unlike its cousin tetrahydrocannabinol (THC), it is not psychoactive.
With the passage of the 2018 Farm Bill and the removal of industrial hemp from the controlled substance list and the use of the word CBD finding its way into the lexicon of the average consumer, the CBD market has exploded. What started as mostly a grassroots movement only five years ago has now ballooned to a potential market for CBD in the projected to be $22 billion by 2020, according to the Brightfield Group.
While much research is still to be done, and the legal landscape surrounding CBD must still be vetted on a state by state basis, the health benefits of CBD are wide ranging.
Some of the purported health benefits of CBD include relief from anxiety,13 inflammatory conditions,14 acne,15 diabetes,16 cancer17 and Alzheimer’s disease.18
As our population continues to live longer, it is important to maintain a healthy lifestyle. Supplements such as magnesium, calcium and vitamin D have proven for years to help in longevity while recent studies of CBD have outlined benefits as well.
For related content, download INSIDER's Healthy Aging Digital Magazine.
Matthew Smith, Counsel to Hoban Law Group has a long history with the cannabis industry dating back to the 1990s. Matthew's first career was as a physicist. This combined with his experience of being in business, including cannabis businesses, and his training as a teacher, gives him an ability to analyze issues, solve problems, explain what is happening to clients, and do so in a cost-effective way. Smith has extensive corporate and transactional experience, including corporate structuring, capital raises, acquisitions, and contract drafting.
This article has been prepared for informational and general guidance purposes only; it does not constitute legal or professional advice. You should not act upon the information contained herein without obtaining specific professional advice. No representation or warranty (express or implied) is made to the accuracy or completeness of the information contained in this publication. Hoban Law Group, its members, employees and agents accept no liability and disclaim all responsibility, for the consequences of you or anyone else acting, or refraining to act, in reliance on the information contained in this publication or for any decision based thereupon