With the rise of the world’s population past the seven billion mark, opinions are plentiful as to the consequences of continued population growth. In the past, these discussions focused on concerns that too many children would outstrip our food supply. However, as birth rates have been falling, many countries have shifted their focus to the rapid rise of elderly as it compares to a shrinking number of workers. A major concern now is too few young people to provide for the healthcare and needs of the rapidly growing population of old people.
The world population is aging. The U.S. Census Bureau projects global growth to slow to 1.11% in 2010-2020 and to 0.91% in 2020-2030. This slowing growth will result in fewer children and an increasingly older population. It’s a mathematical certainty that as the proportion of youth declines, older people become an ever larger fraction of the world’s population. Despite this slower growth by 2030 another 1.3 billion people are expected, in addition to the seven billion here now.
Excepted from a MetLife Mature Market Institute report. To read the full report click here: www.metlife.com/mmi
United States Trends
With over 314 million residents the U.S. is the world’s third largest nation. But in terms of dollars spent on consumer goods it’s by far the largest nation. The American consumer marketplace is one of slowing growth (under 1% /year) combined with increased fragmentation and two huge life-stage transitions. Baby Boomers are entering the traditional retirement years and Millennials (who are more numerous than Baby Boomers) are leaving their parents home and forming their own households.
Over the next decade we don’t know for sure how Millennials will act differently from Baby Boomers, but our research suggests that they are very unlikely to repeat Boomer behavior. We also can’t be sure how Baby Boomers will act differently in their retirement years. But recent research tells us that most of them will delay their retirement far beyond any previous generation. In any case, there’s not much doubt that Boomers will transform what it means to be a senior citizen.
Taken from from a report for Insurance Auto Auctions, Inc. For a copy of the full report please email: firstname.lastname@example.org
- Population estimates
- Population projections
- Consumer income
- Educational attainment
- Family demographics
- Community profiles
- Bureau of Labor Statistics Consumer Spending Data
- Federal Reserve Board Consumer finances
There are a great many sources of demographic information besides federal agencies. Here is a selection of three that also provide software and other services.
Here are the top three publishers of demographic & marketing related articles and books: