Prepared Foods Exclusive: The Youth Market Comes of Age
March 10/Chicago & London/Prepared Foods Magazine & Business Insights -- The U.S. will see its young population increase noticeably in coming years. As Business Insights has found, in the US there will be 20.8 million 5-9 year olds by 2011, compared with 19.6m in 2006, a group notable for its diversity and its increasing amount of disposable income. In fact, that demographic in Europe is expected to see its pocket money increase by a compound annual growth rate of 6.5% over the next three years.
These consumers are facing a concept that Business Insights describes as “growing older younger”: they have access to the Internet; food and drinks manufacturers can use social networks to target them from a young age; and an increasing number have their own cell phones.