Singapore’s silver economy is set to reach $72.4 billion in value by 2025, according to Aging Asia, a social enterprise that specializes in the business…
Citizens aged 65 and above make up almost one-fifth of Singapore's population, up 11.7% from a decade ago, according to the Singapore government's 2023 population report.
The term"pioneer generation" was introduced by Singapore's government, referring to seniors aged 74 years and above in 2023. Consumers aged 65 and above clock the fastest rate of spending growth among other age groups in advanced economies like Singapore, according to a report by Singapore's Citibank,
"We have an increasing number of seniors purchasing our products for their partners or themselves," she added. Even the food industry is catching on. Startups that produce food and supplements catered to an elderly diet have sprung up to meet the growing market.
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