Over 65s have emerged as a major force in the US personal care market, says Kitty So
Producers of anti-ageing and extra moisturising products in the US are benefitting as the national population ages. “People are living longer. It’s good for business... they are buying products longer in their lives,” said Jeffrey Light, President of Aroma Naturals, California, which in March launched its Amazing 30 range of care products for skin types including old age.
The range is based on 30 natural ingredients including oils, butters, peptides, echinacea and comfrey. It can help counter dryness in ageing skin, said Light, whose company also offers whipped body butters and high vitamin facial creams made by a trademarked cold process that preserves key natural ingredients.
Independent experts share his enthusiasm. “Overall, the industry in the US will be positively impacted by the ageing of the population,” said Virginia Lee, senior analyst at market intelligence firm Euromonitor International.
A State of Aging & Health in America 2013 report from the US National Center for Chronic Disease Prevention and Health Promotion estimates that Americans aged 65-plus will number 89 million by 2050, more than double the number in 2010.
“There are proportionately more older adults than in previous generations,” the report said. Americans are living longer than ever and the ‘baby boomers’ born after World War II are reaching their 60s and 70s.
Over 65s represent an increasing share of America’s overall beauty and personal care product market for which Euromonitor forecasts five year growth of 8.5% from around US$68.7bn in 2012 to nearly $74.6bn in 2017.. . .
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