As of 2023, there were approximately 13.57 million members of the Baby Boomer generation in the United Kingdom, ranging from the ages of 59 to 77. The most-common single year of age for Baby Boomers in this year was 59, at 915,735, while there were 521,896 who were 77, the least common year of age.

In 2023, there were approximately 14.69 million millennials in the United Kingdom, making it the largest generational cohort at that time. Millennials surpassed the Baby Boomer generation as the largest generation for the first time in 2019. The two youngest generations, Gen Z and Gen Alpha, numbered approximately 13.2 million, and 8.3 million respectively. Gen X are, as of the most recent year, the second-largest generation in the UK at 14.04 million people, with their parent's generation, the Silent Generation, numbering around 4.3 million people in the same year. There were estimated to be 85,920 people who belonged to the Greatest Generation, the parents of the Baby Boomer generation, who lived through major events such as the Great Depression and World War Two. Post-War Baby Boom The baby boomer generation was the largest generation for much of this period due to the spike in births that happened after the Second World War. In 1947 for example, there were over one million live births in the United Kingdom, compared with just 657,038 live births just thirty years later in 1977. Members of this generation are typically the parents of millennials, and were the driving force behind the countercultural movement of the 1960s, due to their large numbers relative to older generations at the time. The next generational cohort after Boomers are Generation X, born between 1965 and 1980. This generation had fewer members than the Boomer generation for most of its existence, and only became larger than it in 2021. Millennials and Gen Z As of 2022, the most common single year of age in the United Kingdom in 2020 was 34, with approximately 944,491 people this age. Furthermore, people aged between 30 and 34 were the most numerous age group in this year, at approximately 4.67 million people. As of 2022, people in this age group were Millennials, the large generation who came of age in the late 1990s and early 2000s. Many members of this generation entered the workforce following the 2008 financial crash, and suffered through high levels of unemployment during the early 2010s. The generation that followed Millennials, Generation Z, have also experienced tough socio-economic conditions recently, with key formative years dominated by the COVID-19 pandemic, climate change, and an increasingly unstable geopolitical situation.

This statistic displays the findings of a survey that asked baby boomers which high street bank they have their main (most active) current account with. Baby boomers are often defined as persons born between the mid 1940's (post world war 2) and the mid 1960's. This survey referred to respondents aged 55 years as of June 2018. Santander is the most popular bank for baby boomers in the United Kingdom (UK) with 16 percent responding that they use the bank as their main current account.

There were approximately 14.69 million millennials in the United Kingdom in 2023. This generation, sometimes called Generation Y were born between 1981 and 1996 and are mainly the children of the post-war Baby Boomer generation. As of 2023, Millennials were the largest generational cohort in the UK, followed by Generation X at 14.04 million people, Baby Boomers at 13.57 million, and then by Generation Z at 13.2 million. The most numerous single-year of age for Millennials, and the UK as a whole, was 35 at 956,116. Boomerang generation The first cohort of millennials came of age at the turn of the century and have almost certainly been heavily influenced by the growth of internet accessibility during this time. The economic challenges faced by this generation may have a relation to the increasing share of young adults who live with their parents in the UK. This has led to the perhaps unfair, characterization of millennials as the boomerang generation, who failed to grow-up and mature. Some of these negative stereotypes regarding Millennials have since shifted to the next youngest generation, Generation Z, who have started to enter the workplace since the mid-2010s. Generation Remain One of the main challenges that British millennials currently face are their prospects after Brexit. Although the United Kingdom voted to leave the European Union in June 2016, there were clear divisions between regions, classes and age-groups. Most millennials voted to remain in the Brexit referendum with 73 percent of people aged 18 to 24, and 62 percent of those aged 25 to 34 voting to remain. In the next UK election, the majority of 25 to 49-year-olds intend to vote for the Labour Party, with only a slight majority of those over 65 planning to vote for the Conservative Party. Millennials also still appear to oppose Brexit, with approximately 65 percent of 25 to 49-year-olds believing Brexit to have been the wrong decision.

In 2023, Millennials were the largest generational cohort in the United Kingdom, comprising approximately 21.5 percent of the population. Gen X was the next largest generation at 20.6 percent of the population, followed by Baby Boomers at 19.9 percent, and Gen Z on 19.4 percent.

As of September 2024 in the United Kingdom, 98 percent of Generation Z, those born between 1995 and 2012, were using social media. The same was true for 97 percent of millennials in the country. Overall, 92 percent of Gen X were on social networks, as were 86 percent of Baby boomers.

In 2023, there were estimated to be 956,116 people who were aged 35 in the United Kingdom, the most of any age in this year. The two largest age groups during this year were 30-34, and 35 to 39, at 4.7 million and 4.64 million people respectively. There is also a noticeable spike of 693,679 people who were aged 76, which is due to the high number of births that followed in the aftermath of the Second World War. Over one million born in 1964 In post-war Britain, there have only been two years when the number of live births was over one million, in 1947 and in 1964. The number of births recorded in the years between these two years was consistently high as well, with 1955 having the fewest births in this period at 789,000. This meant that until relatively recently, Baby Boomers were the largest generational cohort in the UK. As of 2022, there were approximately 13.76 million Baby Boomers, compared with 14 million in Generation X, 14.48 million Millennials, and 12.9 million members of Gen Z. The youngest generation in the UK, Generation Alpha numbered approximately 7.5 million in the same year. Median age to hit 44.5 years by 2050 The population of the United Kingdom is aging at a substantial rate, with the median age of the population expected to reach 44.5 years by 2050. By comparison, in 1950 the average age in the United Kingdom stood at 34.9 years. This phenomenon is not unique to the United Kingdom, with median age of people worldwide increasing from 23.6 years in 1950 to a forecasted 41.9 years by 2100. As of 2022, the region with the oldest median age in the UK was South West England, at 43.9 years, compared with 35.9 in London, the region with the youngest median age.

In the United Kingdom, The Co-operative Food, Iceland, and Sainsbury's were the most popular three supermarket chains among baby boomers surveyed in the fourth quarter of 2024. The Co-operative Food topped the ranking with 83 percent of respondents having a positive opinion of the food retailer.

According to a survey of social media users conducted in the United Kingdom between April 2023 and March 2024, 67 percent of Generation Z, those born between 1995 and 2012, were using social media daily. The same was true for around 71 percent of Millennials and Generation X users in the country. Surprisingly, Baby Boomers had the highest share of daily usage frequency, as 73 percent of respondents in this age cohort reported engaging with social media daily.

Data shows that in the United Kingdom, Gen Z shoppers were most interested in using mobile phones for online shopping in the second quarter of 2023. A total 63 percent of UK Gen Zers preferred mobile commerce. In comparison, 54 percent of Baby Boomers in the country had a preference for computers for online shopping.

As of Q1, 2024, fish and chips was the most popular British dish among baby boomers in Great Britain. About 91 percent of respondents had a positive opinion of the dish. In second place was roast beef, with about 88 percent.

This is a qualitative data collection comprised of interviews with 70 women generated as part of an ESRC funded study 'Transitions and Mobilities: Girls growing up in Britain 1954-76 and the implications for later-life experience and identity' (ES/P00122X/1), otherwise known as the ‘Girlhood and Later Life Project’. This study addressed women born 1939-52 who became young adults in Britain 1954-76. The youth of this generation has immense historical and current significance. These women grew up in a period of far-reaching post-war social change. In later life they are part of the largest group of over 60s in British history with unprecedented influence and are widely seen to be ageing differently from their predecessors partly due to their youth experiences. The study had 2 aims. First, to investigate key experiences and transitions to adulthood of young women from different social backgrounds in Britain 1954-76, addressing related spatial mobilities. Youth was defined as 15 to 24 years, bridging the end of compulsory full-time education and the age by which most young women married. Two cohorts were identified: war babies born 1939-45 and baby boomers born 1946-52. Second, to explore the relationship between the youth of these women and their current, later-life experiences and identities.

This study addressed women born 1939-52 who became young adults in Britain 1954-76 because this generation of women has immense historical and current significance. In their youth, these women were in the vanguard of postwar social change. In later life they are part of the largest group of over 60s in British history with unprecedented influence and are widely seen to be ageing differently from their predecessors partly due to their youth experiences.

This study investigated the key youth events and transitions to adulthood 1954-76 of girls born 1939-52, and the implications for their later-life experience and identity. It looked initially at the period 1954-76 when these girls were 15-24 years. It included working- and middle-class girls from rural and urban areas and compared 2 cohorts - war babies born 1939-45 and baby boomers born 1946-52. The exploration of youth experiences paid close attention to spatial mobilities because of their likely significance for understanding social diversity and inequalities in youth and longer term. Topics covered included: travel for work, study and leisure; leaving home; residential mobility; independent travel.

The research employed 4 quantitative and qualitative methods. 1) Documentary research to provide contemporary evidence of youth and to contextualise and inform methods 2 and 4. 2) Secondary analysis of longitudinal surveys to identify the occurrence and timing of youth events and transitions 1954-76 and to explore relationships between youth and later-life experiences. The English Longitudinal Study of Ageing (ELSA) is the backbone of this part. It was launched in 2002 to generate data about the lifecourses and ageing of people born pre-1954 in England; it includes retrospectively-collected data about youth 1954-76 and prospectively-collected data on later life. The study also utilised the MRC National Survey of Health and Development (NSHD)which has followed through to the present a sample of children born in Britain in 1946; this includes girls from Wales, Scotland and England and enabled comparisons between prospectively and retrospectively collected data on youth. 3) Qualitative study of the records of a sample of 70 ELSA and 30 NSHD participants to holistically assess youth experiences and lifecourse trajectories. 4) Two interviews using 3 elicitation methods with each of the 70 ELSA participants to probe: relationships in the survey data; the personal meaning and import of youth events, transitions and related spatial mobilities; links between youth experiences and later-life experience and identity. The interviews are archived.

In 2022, among the working age population of the United Kingdom, there were approximately 3.71 million people employed from the Baby Boomer Generation, followed by 11.4 million Gen X employed, 12.2 million Millennials, and 4.3 million Gen Z.

This statistic shows the type of website Millennial and Baby Boomer consumers booked their most recent holiday through in the United Kingdom (UK) in 2017. Close to a quarter of Baby Boomers said they booked their most recent holiday through a hotel website, making it the most popular option among this generation. The results also showed that Millennials were more likely to be users of accommodation platforms such as Airbnb, with 10 percent booking their last vacation via such platforms compared to only one percent of Baby Boomers.

Snapshot img

Senior Living Market Size 2025-2029

The senior living market size is forecast to increase by USD 130.9 billion at a CAGR of 5.8% between 2024 and 2029.

The market is experiencing significant growth due to the aging baby boomer population and advancements in technology. Long-term care facilities are integrating telehealth services, artificial intelligence (AI), and wearable technology to enhance health and wellness for seniors. Fitness programs, including AI-powered personal trainers and AR-enhanced workouts, are becoming increasingly popular. Healthcare services are also leveraging AI for automation and computer-assisted diagnosis. Real estate developments are incorporating telemedicine and 3D printing for customized living solutions. Insurance companies are recognizing the importance of senior care and investing in innovative solutions. These trends are addressing the challenges of staffing and workplace issues In the senior living industry, making it an exciting and dynamic market to watch.

What will be the Size of the Market During the Forecast Period?

Request Free Sample

The market caters to the unique needs and preferences of the aging population, primarily composed of senior citizens. With an increasing global aging population, this market is experiencing significant growth. This demographic shift is driven by various factors, including extended life expectancy and the nuclearization of families, leading to a larger number of adults aged 65 and above. Senior living options span from independent housing to assisted living and memory care facilities. These living arrangements offer amenities tailored to seniors, such as medical services, insurance coverage, and high-quality care. Urban areas and suburbs alike have seen an influx of senior living services, including health and wellness centers, fitness centers, and recreational activities.
The baby boomer generation, now entering their retirement years, is a substantial market segment. These educated seniors prioritize active post-retirement life, seeking communities that cater to their medical needs, social engagement, and overall well-being. As the elderly population continues to grow, the market will remain a dynamic and essential sector, providing essential services and accommodations for seniors.

How is this Industry segmented and which is the largest segment?

The industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Service

  Assisted living
  Independent living
  CCRC


Geography

  North America

    Canada
    US


  Europe

    Germany
    UK
    France
    Italy


  APAC

    China
    India
    Japan


  South America

    Brazil


  Middle East and Africa

By Service Insights

The assisted living segment is estimated to witness significant growth during the forecast period.

The market caters to the unique needs of the aging population, primarily senior citizens, through various housing arrangements, including independent living, assisted living, and skilled nursing care. This demographic shift, driven by an increase in life expectancy and the nuclearization of families, has led to a growing demand for senior housing. Real estate developers and institutional investors are responding by constructing senior living communities in suburban areas, offering attractive financing options, and integrating healthcare and hospitality services. Assisted living arrangements provide apartment-style dwellings with or without kitchens, catering to individuals with varying levels of assistance requirements. Memory care facilities, a specialized segment, offer secure environments for seniors with cognitive impairments.

Get a glance at the market report of share of various segments Request Free Sample

The assisted living segment was valued at USD 158.20 billion in 2019 and showed a gradual increase during the forecast period.

Regional Analysis

North America is estimated to contribute 44% to the growth of the global market during the forecast period.

Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

For more insights on the market size of various regions, Request Free Sample

The North American market presents a significant investment opportunity due to the increasing senior population and resulting demand for retirement housing and care services. In the US, the senior demographic is projected to expand faster than the overall population, with approximately 17% currently aged 65 and above, projected to reach nearly 22% by 2050. This growth is primarily driven by the Baby Boomer generation entering retirement. Senior citizens seek various housing options, including independent living, assisted

Snapshot img

Retirement Communities Market Size 2024-2028

The retirement communities market size is forecast to increase by USD 394.5 bn at a CAGR of 4.25% between 2023 and 2028.

The market is experiencing significant growth due to several key factors. Firstly, the rising life expectancy is leading to an increasing population of elderly individuals seeking suitable living arrangements. This demographic shift presents favorable business opportunities for real estate developers to cater to this growing demand. Additionally, offering proper healthcare solutions within retirement communities is becoming increasingly important as seniors prioritize their health and well-being. These trends are driving the growth of the market and providing significant opportunities for industry players.

What will be the Size of the Retirement Communities Market during the Forecast Period?

Request Free SampleThe market caters to the unique needs and lifestyle preferences of an aging population, primarily composed of senior citizens. With the global population aging, this market is experiencing significant growth, driven by the increasing medical needs and desire for security among older adults. Retirement communities offer various options, including senior living facilities, active adult housing, and assisted living, to accommodate diverse lifestyle choices. Major cities and suburbs have traditionally been popular locations for retirement communities due to their accessibility to healthcare services and amenities. However, non-metro cities are also gaining popularity, providing attractive financing options and a more relaxed, affordable lifestyle.Parents of businessmen and entrepreneurs are increasingly seeking retirement communities that offer continuity and convenience, ensuring a seamless transition into retirement. Regardless of location, the focus on providing a secure and engaging environment remains a top priority for retirement communities. As the demand for these communities continues to grow, innovation and adaptability will be essential to meet the evolving needs and expectations of the aging population.

How is this Retirement Communities Industry segmented and which is the largest segment?

The retirement communities industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments. TypeAssisted living facilitiesContinuing care retirement communitiesRest homesApplicationElderly peopleDisabled peopleGeographyNorth AmericaUSEuropeGermanyUKFranceAPACChinaSouth AmericaMiddle East and Africa

By Type Insights

The assisted living facilities segment is estimated to witness significant growth during the forecast period. Assisted living facilities are a significant segment of the market, catering to senior citizens with increasing medical needs but not requiring continuous care. These communities offer services such as meal preparation, housekeeping, medication management, and personal care assistance to ensure residents' independence and enhanced quality of life. Designed to mimic a home-like environment, assisted living facilities provide private or semi-private living spaces and communal areas for socializing and activities. Many facilities offer additional amenities, including fitness centers, libraries, beauty salons, and transportation services, to encourage an active and engaged lifestyle. These communities are popular in major cities, suburbs, metros, non-metro cities, and senior living residences.Attractive financing options, availability of land, and various models, including outright purchases, leases or rentals, hybrid models, and senior living facilities, cater to diverse lifestyle preferences and budgets. Keywords: retirement communities, assisted living, senior citizens, medical needs, amenities, financing options, models, senior living residences.

Get a glance at the market report of various segments Request Free Sample

The Assisted living facilities segment was valued at USD 982.90 bn in 2018 and showed a gradual increase during the forecast period.

Regional Analysis

North America is estimated to contribute 32% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

For more insights on the market size of various regions, Request Free Sample

The North American the market is experiencing steady growth due to demographic trends and increasing demand for senior housing options. The aging population, particularly the Baby Boomer generation, is driving this demand. Senior living facilities, including Continuous Care Homes, independent living, and assisted living communities, are expanding in major cities, suburbs, and non-metr

According to the Statista Global Consumer Survey carried out between April 2022 and March 2023 in the United Kingdom, around 10 percent of baby boomer survey respondents stated that they followed a flexitarian diet.

For more countries, the results of prior surveys, and a variety of other topics, please visit our Global Consumer Survey web page.

According to a survey conducted in early May 2024, over 80 percent Gen Z and millennial shoppers in the United Kingdom had traded down when purchasing a product in the past three months. In other words, these consumers had bought less valuable or lower-priced items, e.g., by shopping at a lower-priced retailer. In comparison, only just over half of baby boomers and the silent generation had done the same.

In their survey, published by Visual Capitalist in April 2020, the Global Web Index surveyed internet users across the U.S. and the UK on the impact the Covid-19 pandemic had on their media consumption. 42 percent of Baby boomer respondents stated that they had started or had been watching more broadcast TV since the outbreak of the pandemic, making traditional TV by far the most popular activity. This generation has also the biggest share of respondents stating they haven't sprent more time with any of this media, contrasting sharply with the younger generations, especially Gen Z.

In 2024, chili con carne was the most popular Mexican dish among baby boomers in Great Britain. About 72 percent of respondents had a positive opinion of the dish. In second place were fajitas, with 56 percent.