Market Analysis of the Silver Economy
An increase in life expectancy and a lower birth rate makes the proportion of the elderly population grow – introducing new opportunities for the silver market.
Approaching the market in the right way
The Market Analysis of Personalised Nutrition in the Silver Economy is a European report carried out by Agropolis International and INCluSilver. The report focuses on how demographic changes in Europe have led to new market opportunities within the area of food and tech.
Combining insights from all over Europe, the report reveals valuable insights into the true nature of the market and provides need-to-know details for those interested in exploring the market opportunities.
Below are five interesting points extracted from the report – showcasing only a few out of many
The silver economy is estimated to grow from €3,7 trillion to €5,7 trillion from 2015 to 2025. This brings great opportunities for the development of personalised nutrition products for the elderly population.
The report defines three segments: The young and active retirees, the older retirees living with at least one person and the older retirees living alone. All these segments have different levels of budgets, activity, awareness in relation to their diets, social intercourse and buying behaviour. These are all critical aspects that you will need to consider when developing and marketing a product for Silver consumers.
…as they do not consider themselves old. So, when you market your product you will have to consider how to reach your consumer in the right way.
For an SME, it might be difficult to distribute products directly to the consumers. Therefore, an SME’s network is crucial when entering the market. Also, authorities such as medical doctors and prescribers are trusted by the consumers, which means that a product recommended by e.g. a physician will have a better chance of penetrating the market quickly.
E.g. bringing your product to market in Western Europe will differ immensely from marketing it in Southern Europe. Thus, depending on the country or region, the purchasing power or the number of actors and so on will differ.
Statements from the researchers behind the report
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INCluSilver includes partners from:
Covering the agro-food, health, ICT, packaging, and creative industries sectors (part of five emerging industries comprised of Food, Personalised Medicine, Mobile Services, Mobility, and Creative)