Insights / Perspectives

Evolving Households Insights

evolving households

Today’s households are transforming due to demographic, economic, social, and technological shifts. The population is getting older, and birth rates are declining. Solo households are on the rise, while homes are getting bigger. Many categories are influenced by household dynamics and size, including food, non-alcoholic beverages, home care, pet care, and children’s products. Understanding these dynamics can help brands cater to the needs of today’s consumers.

The Rise of Senior Households

People are living longer, and the aging population is growing. According to Euromonitor, the number of global households headed by someone aged 60+ will grow by 53% from 2023 to 2040. They note, “The senior segment will be strong not only in numbers but also in their purchasing power. Silver households, often financially stable and less burdened by debt, possess greater disposable income and can afford more discretionary goods and services.” Ergonomic packaging with easy-grip closures, tactile markings, larger font sizes, and more can appeal to older consumers with physical afflictions. Age-positive messaging and personalized solutions can also attract consumers looking to age healthily and happily.

Dove campaign

Dove Campaign

Solo Living

Euromonitor data shows that single-person households are outpacing the growth rate of all other household types. This is driven by changing attitudes toward relationships and independence and a focus on personal fulfillment. Many singles prioritize comfort, convenience, and indulgence. Brands can appeal to these consumers with packaging that provides multi-functionality, time-saving benefits, and ease of use. Products that provide solo-living consumers with affordable luxuries and unique experiences are also in demand. This can be achieved with custom pack shapes, interactive design, and sensory elements.

Sol de Janeiro

Sol de Janeiro

Larger Living Spaces

The post-pandemic rise in remote and hybrid work, shifts toward aspirational living, and demographic changes are driving individuals and families to seek larger living spaces. The number of U.S. homes with five or more rooms grew by 20 million between 2000 and 2023 (Euromonitor). Bigger homes come with bigger bills, impacting consumer budgets and potentially limiting spending on other essentials and discretionary goods. Brands can attract budget-conscious consumers with products that add value through convenience, multi-functionality, sustainability, and high quality.

Rejuvenate

Rejuvenate

Moira Stein

By: Moira Stein
Date: January 28, 2025

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The brands mentioned in this report are trademarks of their respective owners. Inclusion of these brands in this report is not meant to imply an association with or endorsement from the respective trademark owners.