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Development and marketing of food products in the Danish Silver Economy

The food and drinks sector in Denmark is adapting to the demographic changes of an ageing population and efforts are being made on several levels to develop and market products for these older consumers.

The ‘Inno+’ Catalogue (2013) is the basis for the inspiration and prioritisation of strategic investments in innovation in Denmark, and has been developed through extensive consultation with stakeholders – identifying food products as one such promising area. In the context of ageing populations and increasing numbers of people living with ‘lifestyle diseases’, the catalogue outlines a vision of “Denmark as global supplier of nutritious and health-promoting food products”. For example, high-quality protein has proved to be important to prevent muscle loss for elderly people and changing nutritional recommendations are expected to contribute to growing global demand for such products. Innovation Fund Denmark is now investing in integrated partnerships between knowledge institutions and industry on ‘Foods and Resource-Efficient Biological Production’.

In industry too, there is focus on opportunities presented by changing demographics. The Danish Food and Drink Federation (an independent business organisation within the Confederation of Danish Industries) has published a report, ‘Food in Later Life’, to inspire its members to adapt communication and marketing strategies to appeal to consumers above the age of 50. The large ‘baby-boomer’ generation is reaching retirement age and many are 'individualists with money to spend'. They are different from previous generations of retirees and also differ from the younger consumers that markets usually target. The report also presents the results of a survey comparing two groups of consumers: Women in the age brackets 20-45 and 60-65 respectively. One of the characteristics of older women is their willingness to pay extra for products that are of a high quality, environmentally friendly and healthy. There is an unrealised potential that companies can tap into through targeted communication and marketing.

 

Further reading:

The Ministry of Science, Innovation and Higher Education, “Inno+ - the innovative Denmark”, 2013: http://ufm.dk/en/publications/2013/inno-catalogue

DI Fødevarer, “Food in Later Life”, 2012:
http://foedevarer.di.dk/Vi%20goer/andreaktiviteter/Pages/Foodinlaterlife.aspx