Adam Minter, Columnist

China's Seniors Will Reshape the World

China's old people have growing consumer clout. Companies are catching on.

May 30, 2017 at 12:34 AM UTC

Adam Minter is a Bloomberg Opinion columnist covering the business of sports. He is the author, most recently, of “Secondhand: Travels in the New Global Garage Sale."

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For decades, Nestle SA has tried to get its infant milk powder into the hands of China's new mothers with promises of brighter, healthier babies. Now it's trying to do the same for the elderly. Last week, the company launched "Nestle YIYANG Fuel for brainTM senior milk powder," a formula designed to help China's seniors "refuel their brains and start a new smart life."

The announcement didn't get quite the hype that products targeted to China's millennials do. But it may yet prove more consequential. With 222 million people over age 60, China is home to the world's largest population of seniors, and their economic clout is set to surge in the years ahead. By one estimate, the value of products and services geared toward them may reach 33 percent of gross domestic product by 2050.