On a Health Kick: Older Adults Spend More on Wellness

It is well-documented that the global population of older adults is growing due to advances in nutrition, exercise, medicine, and technology. A recent report by Morgan Stanley also shows that this demographic has more disposable income than in the past and is more inclined to spend it on wellness, preventative health, and self-care. According to the report, this trend is most advanced in Europe, but it does offer clues as to the evolving preferences and habits for older adults in the rest of the world.

The report states that global life expectancy has risen 54% since 1950 and U.S. census data shows that, in 2022, adults over 65 had around 65% more disposable income than they did in the year 2000. These statistics, combined with the consumption trends observed in Europe, lead the analysts at Morgan Stanley to conclude that there will be significant growth in the demand for products and services focused on healthier living for older adults.

Read more here, and the full Morgan Stanley report (titled “Aging Well”) is available on request: https://www.morganstanley.com/ideas/health-and-wellness-industry-older-consumer-growth