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Europe: Spending power of seniors to hit US$10T by 2020

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Tetra Pak has released a consumer study to highlight opportunities in the food and beverage market for seniors, those aged 60 and over, the fastest growing consumer group in the world.

“Seniors spend 20% of their income on food and beverages,” says Libby Costin, VP global marketing.

“They have more disposable income than previous generations, and are poised to become one of the most important consumer groups over the next decade with a total spending power of US$10 trillion by 2020.”

“This creates a huge opportunity for manufacturers to respond to their needs.”

This report is the latest edition of Tetra Pak’s annual Consumer Generations Whitepaper series which analyses consumers by their age, needs and spending habits.

It investigates senior consumer trends in food, packaging and shopping experience, and identifies product opportunities for producers, based on insights from 27 countries across developed and developing markets such as Japan, the US and Brazil.