AN AGEING WORLD FROM WEST TO EAST
Summary of Euromonitor International Report
My Personal COMMENTS on REPORT:
Ageing is a natural process, which presents a unique challenge for all sections of the society and all kind of species. More over these, better and dedicated health services expected by the 60+ age group. An ageing population tends to have a higher prevalence of chronic diseases (especially musculoskeletal, cardiac and respiratory), physical disabilities, mental illnesses and other comorbidities. The health needs and health related problems of elderly people cannot be solved in isolation. Prevention and control of health problems of elderly necessitates a multifaceted approach incorporating active collaboration of health, social welfare, rural/urban development and legal sectors.
Euromonitor International Report 2017 shows that life expectancy continues to creep up and the world is ageing rapidly. This is the short summary of report with comment.
The median age of the global population was 29.6 years in 2015, up from 27.5 years a decade earlier. Average global life expectancy is now 72 years, up from 69 years in 2005. Over the decade, the global percentage of people aged over 60 years grew from 10% to 12%, and by 2020, this figure is expected to rise to %13.
Why are populations ageing?
More consumers are taking a holistic approach to ageing, paying attention to good nutrition and recognising the need to balance their emotional wellbeing with keeping their body active and mind sharp. This is benefiting a range of health and wellness foods and beauty-positioned supplements.
Over – 60s form the fastest – growing population segment.
Although the over-60s still represent the smallest of the key age groups, their growth has been more rapid than any other segment over the decade to 2015, at 34%. In contrast, the number of under-18s crept up by just 3%. The over-60s saw their share expand from 10.3% in 2005 to 12.3% in 2015.
In absolute terms, China and India have the largest numbers of people aged 60+ (211.9 million and 110.7 million, respectively), reflecting their vast populations. China’s population is ageing rapidly, a consequence of its one child policy. The number of people aged 60+ increased by 48% over the decade from 2005-2015, while India’s 60+ population grew by 43%. The most rapidly ageing populations over th last devade have included Colombia Philippines, Malaysia, Saudi Arabia and Brazil, where the number of people aged 60+ has grown by more than 50%.
At the retail level, the anti-ageing sector will see further robust growth in anti-agers and beauty ingestibles over the forecast period, as well as more anti-ageing properties being incorporated into regular beauty and personal care products, such as cosmetics, sun care, moisturisers and hair care. The future is also likely to see a more customised approach to skin care as instore skin consultancies proliferate.
Figure.1. Young children and older people as a percentage of the global population