Asia continues to present new opportunities for manufacturers in the anti-ageing sector, according to Euromonitor. The intelligence company identified that today there is at least a seven year gap between life expectancy and ‘healthy life expectancy’ globally, the latter defined as how long the average person lives with full health.
As a result, a new term is emerging – ‘active ageing’. Euromonitor analyst Minji Kim said the gap between the two measures in Asia-Pacific is slightly higher than the global figure, at eight years, something that manufacturers should consider.
The key demographic for the active ageing trend was identified as those who are “wealthy, healthy and ready to spend”. Countries such as China and India may see increasing numbers of consumers living to older ages, but their disposable income is generally lower, which presents a challenge for active ageing products. However, in developed countries such as Japan, Singapore and Hong Kong, consumers generally have higher disposable incomes and healthy life expectancies, making this an ideal region for manufactuers to explore and for the trend to flourish.
Manufacturers were also encouraged to consider the most common health issues facing different demographics. In 2014, one manufacturer launched almond milk especially targeting ageing consumers in Japan. In this region, almond is becoming well known for its health and anti-ageing benefits, added Kim. The product is also fortified with vitamin E and fibre to offer extra benefits. Meanwhile, in Malaysia another manufactuer recently launched a powdered milk, fortified with omega – the product claims to help reduce cholesterol levels, a concern for many Asian consumers, and therefore suitably targeted to the demographic.
Kim also identified food and beverage products with enriched nutrition and extra health benefits, products that are packaged in an easy to consume format, and those with high levels of antioxidants such as fruit juice and green tea as having good growth opportunity under the trend.
