Baby Boomers are increasingly turning to supplements like omega-3s, magnesium, calcium, and CBD to improve their health as they age. With the aging population and younger consumers focusing on longevity, the market for healthy aging products is ripe for innovation. The health and nutrition industry must prioritize cognitive health, ingredients that support activity and wellness, and bone health.
According to the Transamerica Retirement Survey of 2013, ten thousand Baby Boomers turn 65 every day. This generation is not only growing older but also living longer. By 2050, the U.S. population aged 65 and over is projected to reach 83.7 million, nearly double the 43.1 million in 2012, as reported by the U.S. Census Bureau in “An Aging Nation.” This trend has led Baby Boomers to embrace the idea that 70 is the new 60 and 80 is the new 70. A 2009 Pew Research survey found that the typical Boomer believes old age does not begin until age 72. About 61% of Boomers feel younger than their actual age, and 65% plan to work past age 65. This may be due to increased life expectancy, financial concerns about Social Security and Medicare, or support for adult children. As a result, people are seeking supplements to aid daily life and longevity. Omega-3 fatty acids DHA and EPA: Derived from sources like plants, beef, seeds, and especially fish and seafood, these supplements offer benefits such as reducing triglycerides, relieving rheumatoid arthritis symptoms, and slowing age-related macular degeneration. Magnesium: This mineral supports bone health, the cardiovascular system, diabetes management, and other bodily functions. It can help with migraines and low levels are linked to anxiety. Good food sources include almonds, spinach, peanut butter, bananas, and black beans. Calcium: Essential for bone health, calcium is crucial for active aging populations like Baby Boomers and Millennials. It also helps protect against colon cancer and aids in weight control.Vitamin D: A lack of Vitamin D due to poor diets or lack of sunshine because the population is either working or living mostly indoors has become a real issue for the aging population’s health. Several studies link low vitamin D levels with an increased risk of fractures in older adults. Vitamin D in high dosages has been proven to help protect against heart disease and cancer, and help with the development of muscle, a critical factor in mobility as we grow older.
CBD: Cannabidiol (CBD) is a chemical compound from the cannabis plant. It is a naturally occurring substance used in products like oils and edibles. Unlike its cousin tetrahydrocannabinol (THC), it is not psychoactive. With the passage of the 2018 Farm Bill and the removal of industrial hemp from the controlled substance list and the use of the word CBD finding its way into the lexicon of the average consumer, the CBD market has exploded. What started as mostly a grassroots movement only five years ago has now ballooned to a potential market for CBD projected to be $22 billion by 2020, according to the Brightfield Group. While much research is still to be done, and the legal landscape surrounding CBD must still be vetted on a state by state basis, the health benefits of CBD are wide ranging. Some of the purported health benefits of CBD include relief from anxiety, inflammatory conditions, acne, diabetes, cancer and Alzheimer’s disease. As our population continues to live longer, it is important to maintain a healthy lifestyle. Supplements such as magnesium, calcium and vitamin D have proven for years to help in longevity while recent studies of CBD have outlined benefits as well. For related content, download INSIDER’s Healthy Aging Digital Magazine. Matthew Smith, Counsel to Hoban Law Group has a long history with the cannabis industry dating back to the 1990s. Matthew’s first career was as a physicist. This combined with his experience of being in business, including cannabis businesses, and his training as a teacher, gives him an ability to analyze issues, solve problems, explain what is happening to clients, and do so in a cost-effective way. Smith has extensive corporate and transactional experience, including corporate structuring, capital raises, acquisitions, and contract drafting. This article has been prepared for informational and general guidance purposes only; it does not constitute legal or professional advice. You should not act upon the information contained herein without obtaining specific professional advice. No representation or warranty (express or implied) is made to the accuracy or completeness of the information contained in this publication. Hoban Law Group, its members, employees and agents accept no liability and disclaim all responsibility, for the consequences of you or anyone else acting, or refraining to act, in reliance on the information contained in this publication or for any decision based thereupon.
