ENGAGING THE 50+ MARKET: A FORMULA FOR SUCCESS
HEALTHY AGEING
Healthy aging is a significant concern for all, regardless of age. In the U.S., there are currently over 108+ million people over the age of 50 and is expected to grow by another 19 million over the next decade (1). According to the latest estimates, by 2050 there will be 2 billion people aged over 60 (22% of the world population) (2). The 50 and over age bracket is the primary demographic that experiences the health declines that come with age. The body, like an automobile as it ages, some parts begin to wear down and fail. By keeping the body well-maintained over the years, there will be less chance of developing health problems.
The top health concerns of the aging population are (3):
Chronic Health Conditions- Approximately 80% of older adults have at least one chronic disease, and 77% have at least two. Four chronic diseases—heart disease, cancer, stroke, and diabetes—cause almost two-thirds of all deaths each year (4).
Cognitive health- The most common cognitive health issue facing the elderly is dementia, the loss of those cognitive functions (5). Approximately 47.5 million people worldwide have dementia, a number that is predicted to nearly triple in size by 2050 (6).
Mental health- According to the World Health Organization, over 15 percent of adults over 60 have a mental disorder (7). A common mental disorder among seniors is depression, occurring in seven percent of the elderly population (8).
Physical injuries- According to recent statistics from the International Osteoporosis Foundation, worldwide, 1 in 3 women over the age of 50 years and 1 in 5 men will experience osteoporotic fractures in their lifetime (9).
Osteoarthritis is the single most common cause of disability in older adults (10).
It is evident just by these staggering numbers that the 50+ population needs help. With this age bracket continuing to grow, the need for more alternatives to modern medicine will increase as well. Categories such as sleep, nootropics (brain-boosting), immune health, cardiovascular health, and even aging men’s (andropause) and women’s (menopause) health issues are hot in the 50+ market. Too often, the focus is on beauty when discussing aging and not focused on the real health challenges that this group faces.
REFERENCES
- AARP Website, https://blog.aarp.org/notebook/top-10-demographics-interests-facts-about-americans-age-50 Top 10 Demographics & Interests Facts About Americans Age 50+, Published May 14, 2014, Accessed December 4, 2019
- SilverEco.org website, http://www.silvereco.org/en/statistics/, The ageing population : Numbers and Statistics, Accessed December 4, 2019
- Vital Record Website, 10-Common Elderly Health Issues, https://vitalrecord.tamhsc.edu/10-common-elderly-health-issues/ Published February 11, 2016, Accessed December 5, 2019
- National Council on Aging website, https://www.ncoa.org/news/resources-for-reporters/get-the-facts/healthy-aging-facts/#intraPageNav0, Healthy Aging Facts, revised July 2018, accessed December 4, 2019
- Vital Record Website, 10-Common Elderly Health Issues, https://vitalrecord.tamhsc.edu/10-common-elderly-health-issues/ Published February 11, 2016, Accessed December 5, 2019
- World Health Organization Website, https://www.who.int/en/news-room/fact-sheets/detail/mental-health-of-older-adults, Mental Health of older adults, December 12, 2017, accessed December 7, 2019
- World Health Organization Website, https://www.who.int/en/news-room/fact-sheets/detail/mental-health-of-older-adults, Mental Health of older adults, December 12, 2017, accessed December 7, 2019
- Vital Record Website, 10-Common Elderly Health Issues, https://vitalrecord.tamhsc.edu/10-common-elderly-health-issues/ Published February 11, 2016, Accessed December 5, 2019
- Sözen, T., Özışık, L., & Başaran, N. Ç. (2017). An overview and management of osteoporosis. European journal of rheumatology, 4(1), 46–56. doi:10.5152/eurjrheum.2016.048
- Laupattarakasem W et al. Arthroscopic debridement for knee osteoarthritis. Cochrane Database of Syst Rev, 2008, Issue 1. Art. No.: CD005118.
- Walker AF, Marakis G, Simpson E, et al. Hypotensive effects of hawthorn for patients with diabetes taking prescription drugs: a randomized controlled trial. Br J Gen.Pract 2006;56:437-43
- Morris, M. C., Taylor, J. O., Stampfer, M. J., Rosner, B., and Sacks, F. M. The effect of fish oil on blood pressure in mild hypertensive subjects: a randomized crossover trial. Am J Clin Nutr 1993;57(1):59-64
- Kass, L., Weekes, J. & Carpenter, L. Effect of magnesium supplementation on blood pressure: a meta-analysis. Eur J Clin Nutr 66, 411–418 (2012) doi:10.1038/ejcn.2012.4
- Pratte, M. A., Nanavati, K. B., Young, V., & Morley, C. P. (2014). An alternative treatment for anxiety: a systematic review of human trial results reported for the Ayurvedic herb ashwagandha (Withania somnifera). Journal of alternative and complementary medicine (New York, N.Y.), 20(12), 901–908. doi:10.1089/acm.2014.0177
- NUTRAingredients U.S.A. website, https://www.nutraingredients-usa.com/Article/2014/11/20/Pill-fatigue-is-driving-innovation-in-space-between-functional-foods-and-supplements-experts-say, Pill fatigue is driving innovation in space between functional foods and supplements, experts say, Last Updated December 23, 2014, accessed December 7, 2019
- NUTRAingredients U.S.A. website, https://www.nutraingredients-usa.com/Article/2014/11/20/Pill-fatigue-is-driving-innovation-in-space-between-functional-foods-and-supplements-experts-say, Pill fatigue is driving innovation in space between functional foods and supplements, experts say, Last Updated December 23, 2014, accessed December 7, 2019.
ENGAGING THE 50+ MARKET:
A FORMULA FOR SUCCESS
Formulate for Success
In most cases, both natural and modern medicine currently address health challenges by looking at the surface or symptoms associated with the condition rather than solving the root problem. To achieve the best results, efforts should be focused on the root cause(s) of a condition and not symptomatic relief. To formulate using this technique, it is best to start by reviewing the underlying causes of the condition you are trying to help.
An example would be high blood pressure, which has several possible causes, such as being overweight, stress, sodium intake, smoking, alcohol consumption, physical inactivity, diabetes, etc. Once the list of potential causes is identified, select foods or dietary ingredients which address these underlying causes. Researching the mechanisms of action and efficacy is critical to ensure a successful combination is formed.
Example: With regards to the model of hypertension above, combining ingredients such as hawthorn (11), omega-3s (12), magnesium (13) and ashwagandha (14) may be a good selection. Each ingredient possesses unique mechanisms of action and has clinical substantiation.
In addition to choosing the precise ingredients, the exact dosage for each ingredient must be used based on clinical research. Using sub-therapeutic doses of nutraceutical ingredients will often lead to failure of the end product and yield consumer dissatisfaction. Finding the appropriate blend of ingredients is only helpful when they are combined in therapeutic amounts. Therapeutic dosing will increase the chance for product success, which will most likely lead to consumer loyalty. Using clinically substantiated ingredients will also allow you to make claims about your product.
Delivery Method
Pill fatigue is a real thing. Paying strict attention to using innovative delivery methods and dosage forms is another way to attract and maintain the 50+ market. A recent article broached the question, “Is pill fatigue j ust a marketing ploy? (15)” Just ask a natural health enthusiast, and they will most likely validate that pill fatigue is real. The same article also stated that pill fatigue is driving innovation in both dosage form and the use of bioactives into functional foods (16). Other than traditional capsules and tablets (pill fatigue), there are several different methods to deliver your formulation. Some of the more popular areas are gummies, film strips, beverages, shots, and powders (stick packs, sachets, effervescent, pods, etc.) and functional foods.
When looking at using one of these unique delivery methods, several considerations will need to be made. For instance, if you have several active ingredients:
- Serving size- example: the number of gummies to be consumed to achieve the therapeutic dose may be high.
- Taste- One or more of the ingredients may be difficult to mask when flavoring is done.
- Calories- The choice of a sweetener may impact calorie count (sugars) and detract a consumer with weight or blood sugar concerns.
- Stability- There may be stability issues depending on the ingredient and delivery method
- Solubility- An ingredient that is not fat or water-soluble may determine what delivery methods can be used.
- Packaging- Consumer convenience, package size, portability depending on the delivery method may have an impact on consumer use.
- Shipping- Shipping will be impacted depending on the dosage form used. Liquids will cost more than powder of the same ingredients due to weight.
Lifestyle Fit
Ask yourself this question; Does your formula and delivery method fit your demographic’s lifestyle? Having a product in which multiple doses per day may decrease compliance. Ease of use in a once per day package is a great start. Decreased compliance will impact the end efficacy of the product, reduce sales, and in the worst case, a lost customer. Using the philosophy of K.I.S.S. (keep it simple stupid) is paramount to capture and retain a customer. If a product is difficult to use, store, or consume, it will not fit easily into the customer’s lifestyle. An example of lifestyle would be to add the ingredients into food such as yogurt and create a functional food. Foods fit into most consumer’s daily lifestyle and therefore make it easier for the consumer to remain compliant.
TIPS TO CAPTURE AND RETAIN THE 50+ MARKET
To capture and retain this growing 50+ market, efforts need to be focused on the three areas mentioned above. Who doesn’t desire to live longer and/or maintain their vitality? Both of these can be obtained with careful consideration of ingredients, delivery methods i.e., foods, beverages, supplements, and by the ease in which they fit into an existing lifestyle.
CONCLUSION
DAVID FOREMAN
Herbal Pharmacist | USA
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ABOUT THE AUTHOR
David Foreman is a pharmacist, naturopath, author, speaker and media personality known internationally as, “The Herbal Pharmacist”. Foreman is highly sought for his abilities as a science engineer, connecting the science world with sales and marketing. Foreman is a graduate of the University of South Carolina College of Pharmacy, currently serves on Organic & Natural Health Association’s Scientific Advisory Board and is author of several books including “4 Pillars of Health: Heart Disease."
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