Elderly consumers in China - statistics & facts
In 2022, China saw its first decline in population. With the birth rate plummeting in the past years, and a longer lifespan due to improvements in healthcare and living standards, China is now facing a major demographic challenge from its aging population. In 2020, around 17.8 percent of China's population was over 60 years old, and projections estimate that it will increase to over 40 percent by 2060. As a result, senior consumers are becoming an increasingly crucial segment of China's economy and consumer market.
