Baby Boomers and New Middle Classes Key to Growth for Consumer Products Companies
13 Apr, 2011, 01:00 ET
NEW YORK, April 13, 2011 /PRNewswire/ -- The affluent, aging populations of the developed world represent one of the most likely sources of profitable growth for consumer products companies in the coming years, according to a new report by Deloitte Touche Tohmatsu Limited. Global Powers of the Consumer Products Industry argues that while developed markets as a whole offer limited opportunities for growth, the "forever young" attitude of the baby boomer generation represents a significant opportunity for innovation to address the specific needs of this consumer segment.
Dr. Ira Kalish, Director of Consumer Business for Deloitte Research* in the United States, said: "Aging populations in the UK, Germany, Japan, and even China and Russia offer significant opportunities, and we would expect to see new products being developed for this group. For example, consumer products companies are already leading the way in functional foods to help manage disease, illness, and health and wellness."
The report suggests that the biggest single opportunity comes from the emerging middle classes in developing economies, with an estimated 70 million new consumers expected to enter the global middle classes each year. However, to fully exploit this opportunity, companies must prepare for radical innovation to deliver the right products at price points that are typically well below equivalent products in the developed world.
To read a complete version of this media alert or download a copy of the report, go to www.deloitte.com/consumerbusiness
* Deloitte Research in the United States is part of Deloitte Services LP
Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity. Please see www.deloitte.com/about for a detailed description of the legal structure of Deloitte Touche Tohmatsu Limited and its member firms.
Deloitte provides audit, tax, consulting, and financial advisory services to public and private clients spanning multiple industries. With a globally connected network of member firms in more than 150 countries, Deloitte brings world-class capabilities and deep local expertise to help clients succeed wherever they operate. Deloitte's approximately 170,000 professionals are committed to becoming the standard of excellence.
SOURCE Deloitte Touche Tohmatsu Limited
Share this article