Baby boomers – now defined as being aged from 45 to 54 – spend more on food than other segments of the population, according to a report published by market researcher Packaged Facts.
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According to the report, Baby Boomers and the US Food and Beverage Industry, the 78m baby boomers in the US spend an average of US$123 a week on food, compared with US$102 for 25- to 34-year-olds and US$75 for 65- to 74-year-olds. In addition, the report found that over 12m boomers spend more than US$150 per week on household groceries.
The report suggests that as many boomers head households with children, the trend to eat well is being passed on to future generations, including preferences for fresh, natural and organic ingredients.
“Boomers are spending more on food because they can afford to and because health, particularly anti-ageing, is a major concern,” said Don Montuori, the publisher of Packaged Facts. “They are a driving force behind the success of functional and fortified foods, as well as organics, and they prefer gourmet foods of convenience that meet the demands of their elegant yet hectic lifestyles.”
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By GlobalData
