Brazil already has 27% of the population over 50 years old, and the rate of aging is impressive: according to projections by the United Nations (UN), by 2044 the so-called “silver” segment will account for 40% of the total population. For comparison purposes: it took France 120 years to increase its population over 65 from 10% to 20%.
Despite what is clear, many businesses have not yet taken advantage of opportunities for this audience. “Aging will be one of the biggest challenges today and, at the same time, a great economic opportunity”, says Marcos Ferreira, founder of Silver Hub, an accelerator specialized in the silver economy and organizer of Inova Silver, an event that brought together around 410 people this October, in São Paulo, to discuss the aging population and opportunities.
A giant of trillions
The lack of attention to the topic is immense, since in 2024 alone the consumption of the 50+ population corresponded to R$1.8 trillion, or 24% of private consumption in Brazil. In two decades, this value is expected to double, reaching R$3.8 trillion, and by 2044 it will represent 35% of private household consumption, according to Cléa Klouri, founding partner of Data8, an innovation consultancy for 50+ businesses and responsible for compiling data on the sector.
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Agelab (research program on 50+ linked to MIT) indicates that the aging population already represents almost a new continent emerging in the ocean, with more than 1 billion consumers around the world, eager for products that meet their specific demands.
This entire movement creates what many already call “Silver Money”, the economic force formed by people over 50 and still invisible to part of the market, but with the capacity to shape several markets, as Klouri explains.
Slow movement of companies
According to Ferreira, some companies in the world, especially European ones, have already noticed the transformation and are instructing Latin American subsidiaries to adapt portfolios for this age group. In Brazil, the expert cites concrete examples of companies that are already taking advantage of the ‘grey wave’, such as Prevent Senior and MedSenior, which were created with a focus on the mature population, as well as insurance companies such as Mapfre and banks Mercantil and BMG, which launched specific products for the elderly.
In the real estate sector, we can also see the beginning of efforts to go beyond conventional construction, with adapted apartments, safe environments and integrated services that facilitate aging in one’s own home. “Because we already know that the best place to grow old is our home, as long as that home is designed for us,” said Ferreira.
With four years of operation, Silver Hub has already identified around 140 startups focused on longevity and currently supports nine of them with mentoring, governance and connections. Half of these work in health and well-being, and others in the financial, property and digital areas. One of the supported cases, Tech Balance, allows remote monitoring of exercises via app, for example, according to Ferreira.
Representativeness
According to the Data8 representative, the survey showed that 75% of those interviewed said they did not see themselves represented in advertising campaigns, for example. Furthermore, 45% say that products are not developed considering their specific needs. The mature audience, contrary to popular belief, is very connected, many of them are already on social networks, use smartphones and participate digitally.
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“But it is also necessary to emphasize that aging in Brazil is accelerated and unequal. Brazil has aged too quickly and, at the same time, there are regional disparities and inequality in access to health, income and services”, highlights Clea Klouri, from Data8.
Job market
According to Clea, companies need to rethink not only their products, but also their structures. This is because, with the drop in birth rates and increasing aging, the capacity to replace the workforce decreases. “Companies will have to rethink hiring and take advantage of more mature talent, perhaps in projects or flexible positions, as well as promote training and recycling for those who want to remain active. And, of course, combat institutional and cultural ageism”, he states.
The expert also cites another challenge: intergenerationality in the job market, which will have baby boomers, generations X and Z all together and needing to be accommodated. “Companies have to learn to deal with all of them to become more competitive.”
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Entrepreneurship
The 50+ population also appears to have a significant participation in entrepreneurship, creating businesses that meet their own demands and those of their peers. “The market needs to abandon this myopic view of 50+, developing products and services that consider the needs of this population, which is only increasing across the world,” said Ferreira.
