Millennials were the largest generation group in the U.S. in 2023, with an estimated population of 72.7 million. Born between 1981 and 1996, Millennials recently surpassed Baby Boomers as the biggest group, and they will continue to be a major part of the population for many years. The rise of Generation Alpha Generation Alpha is the most recent to have been named, and many group members will not be able to remember a time before smartphones and social media. However, the group already makes up around 42.75 percent of the U.S. population, and they are said to be the most racially and ethnically diverse of all the generation groups, with the oldest Generation Alpha members aging into adolescents this year. Boomers vs. Millennials The number of Baby Boomers, whose generation was defined by the boom in births following the Second World War, has fallen by around seven million since 2010. However, they remain the second-largest generation group, and aging Boomers are contributing to steady increases in the median age of the population. Meanwhile, the Millennial generation continues to grow, and one reason for this is the increasing number of young immigrants arriving in the United States.
In 2023, Millennials were the largest generation group in the United States, making up about 21.71 percent of the population. However, Generation Z was not far behind, with Gen Z accounting for around 20.69 percent of the population in that year.
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.
The statistic shows the number of people in the U.S. in 2011 and 2030, by generation. By 2030, the Millennial generation will have 78 million people whereas the Boomer generation will only have 56 million people in the United States.
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The United States senior living market, valued at $112.93 billion in 2025, is experiencing robust growth, projected to expand at a Compound Annual Growth Rate (CAGR) of 5.86% from 2025 to 2033. This expansion is fueled by several key drivers. The aging population, particularly the baby boomer generation, is a significant factor, creating an increasing demand for assisted living, independent living, memory care, and nursing care facilities. Furthermore, rising disposable incomes and increasing awareness of the benefits of senior living communities contribute to market growth. Technological advancements in senior care, such as telehealth and remote monitoring, are also enhancing the quality of life for residents and boosting market appeal. However, the market faces some restraints, including the rising costs of healthcare and senior care services, potentially limiting accessibility for some segments of the population. Furthermore, staffing shortages within the industry represent a significant challenge. The market is segmented by property type, with assisted living, independent living, and memory care facilities representing the largest segments. Key states driving market growth include New York, Illinois, California, North Carolina, and Washington, reflecting higher concentrations of the senior population and higher disposable incomes. Major players in the market such as Ensign Group Inc, Sunrise Senior Living, Brookdale Senior Living Inc, and Atria Senior Living Inc, compete fiercely, driving innovation and service improvements. The forecast period (2025-2033) anticipates continued growth, driven by the ongoing demographic shifts and increased demand for high-quality senior care options. Strategic partnerships, acquisitions, and investments in technology are likely to shape the competitive landscape in the coming years. The industry will continue to adapt to meet the evolving needs of the aging population, focusing on personalized care, innovative technologies, and cost-effective solutions. This comprehensive report provides an in-depth analysis of the booming United States senior living market, covering the period from 2019 to 2033. With a base year of 2025 and a forecast period spanning 2025-2033, this report is an invaluable resource for investors, industry professionals, and anyone seeking to understand the dynamics of this rapidly evolving sector. The report leverages extensive data analysis to provide insightful projections and uncover key trends shaping the future of senior care in the US. Expect detailed breakdowns of key segments, including assisted living, independent living, memory care, and nursing care, across major states like California, New York, Illinois, North Carolina, and Washington. Recent developments include: July 2023: Spring Cypress senior living site expansion is set to open at the end of 2024 and will consist of three phases. The first phase of the expansion will include 19 independent-living, two-bedroom cottages. The second phase will include 24 townhomes. The third phase will feature 95 apartments. The final phase will feature a resort with several luxury amenities., Apr 2023: For seniors looking for innovative, high-quality care, Avista Senior Living is transitioning away from its SafelyYou partnership to empower safer, more personalized dementia care with real-time, AI video and remote clinical experts 24/7.. Key drivers for this market are: 4., Increase in Aging Population Driving the Market4.; Healthcare and Long-term Care Needs Driving the Market. Potential restraints include: 4., High Affordability and Cost of Care Affecting the Market4.; Staffing and Workforce Challenges Affecting the Market. Notable trends are: Senior Housing Witnessing Increased Demand.
In 2022, 51 percent of Generation Z in the United States were White. In comparison, 48 percent of Gen Alpha were White in that year, making it the first generation that does not have a majority White population in the United States.
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This paper illustrates, based on an example, the importance of consistency between empirical measurement and the concept of variables in estimated macroeconomic models. Since standard New Keynesian models do not account for demographic trends and sectoral shifts, I propose adjusting hours worked per capita used to estimate such models accordingly to enhance the consistency between the data and the model. Without this adjustment, low-frequency shifts in hours lead to unreasonable trends in the output gap, caused by the close link between hours and the output gap in such models. The retirement wave of baby boomers, for example, lowers US aggregate hours per capita, which leads to erroneous permanently negative output gap estimates following the Great Recession. After correcting hours for changes in the age composition, the estimated output gap closes gradually instead following the years after the Great Recession.
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.
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The working-age population can be divided into two broad categories: the early-working age group (15-34) and the later working age group (35-64). The effect of fertility on the composition of these groups is obvious. The later working age group is largely composed of the baby-boomers (those born between 1946 and 1965), while the early working age group is composed of those born during the baby-bust period (1966-1974) and the children of baby-boomers. Thus, despite the fact that baby-boomers are now older, they still remain the largest group in the population. This is evident in the relatively large proportion (42.6%) of the population that belonged to the late working age group in 2006. The corresponding proportion was much smaller (31.3%) just 25 years ago in 1981. As a result of the entry into the working age group of the people born during the baby-bust period and the children of baby-boomers in 2006, only 26.0% of the population belonged to the 15 to 34 age group in 2006, compared with 36.5% in 1981.
This statistic shows the share of Baby Boomer internet users in the United States who were using selected social networks as of February 2019. During that period of time, 23 percent of U.S. adults aged between 50 and 64 years used the photo sharing app Instagram.
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Curious about your clientele in Luxembourg? Wondering about which generation can be most often seen flocking to your store? Dive deep into customer insights using our population by age group data of Luxembourg. Whether your customers are down your street or across the globe, we empower you to pinpoint the ideal demographic for your marketing campaigns or projects. Our dataset offers intricate details on this country's age distribution.
Each data variable is available as a sum, an average, or as a percentage of the total population within each selected area. Continue reading for the list of included data variables:
Available for the total, female, and male population.
This data is available at both the street and 4-digit postal code levels.
Understanding Luxembourgish age demographics is a critical tool for marketers to create advertising that deeply resonates with their target audience. Different age groups possess unique preferences, values, and consumption habits. By delving into these demographics, marketers can tailor their messaging, visuals, and channels to craft more relevant and engaging campaigns.
Whether you're catering to tech-savvy Gen Z, career-focused Millennials, or financially established Baby Boomers, age demographics provide invaluable insights for crafting advertising that not only captures attention but also fosters genuine connections with consumers, ultimately driving brand loyalty and sales.
Spotzi Profiling and Targeting enable you to swiftly analyze age demographics and convert your insights into highly targeted marketing campaigns.
At the 4-digit postal code level, there are 4,262 areas in this dataset.
Spotzi Profiling simplifies gaining deeper insights into the demographics of your (potential) customers in Luxembourg. At Spotzi, you have the following options:
After analyzing your locations with Profiling, Spotzi Targeting helps you turn your analysis into action. Spotzi Targeting offers assistance in perfectly targeting your desired audience with various enticing options:
Income quintiles are assigned based on equivalized household disposable income, which takes into account differences in household size and composition using a method proposed by the Organization for Economic Co-operation and Development (OECD). The OECD-modified" equivalence scale assigns a value of 1 to the first adult Age groups refer to the age group of the major income earner. Housing tenure of household Refers to the main source of income for the household, either from wages and salaries, self-employment income, net property income, current transfers received related to pension benefits, or from other current transfers received from non-pension related sources (others). Distributions by generation are defined as follows and are based on the birth year of the major income earner : pre-1946 for those born before 1946, baby boom for those born between 1946 and 1964, generation X for those born between 1965 and 1980 and millennials for those born after 1980. Note that generation Z has been combined with the millennial generation as their sample size is relatively small.
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Curious about your clientele in Ireland? Wondering about which generation can be most often seen flocking to your store? Dive deep into customer insights using our population by age group data of Ireland. Whether your customers are down your street or across the globe, we empower you to pinpoint the ideal demographic for your marketing campaigns or projects. Our dataset offers intricate details on this country's age distribution.
Each data variable is available as a sum, an average, or as a percentage of the total population within each selected area. Continue reading for the list of included data variables:
Available for the total, female, and male population.
This data is available at both the street and 4-digit postal code levels.
Understanding Irish age demographics is a critical tool for marketers to create advertising that deeply resonates with their target audience. Different age groups possess unique preferences, values, and consumption habits. By delving into these demographics, marketers can tailor their messaging, visuals, and channels to craft more relevant and engaging campaigns.
Whether you're catering to tech-savvy Gen Z, career-focused Millennials, or financially established Baby Boomers, age demographics provide invaluable insights for crafting advertising that not only captures attention but also fosters genuine connections with consumers, ultimately driving brand loyalty and sales.
Spotzi Profiling and Targeting enable you to swiftly analyze age demographics and convert your insights into highly targeted marketing campaigns.
At the 4-digit postal code level, there are 139 areas in this dataset.
Spotzi Profiling simplifies gaining deeper insights into the demographics of your (potential) customers in Ireland. At Spotzi, you have the following options:
After analyzing your locations with Profiling, Spotzi Targeting helps you turn your analysis into action. Spotzi Targeting offers assistance in perfectly targeting your desired audience with various enticing options:
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Curious about your clientele in Bulgaria? Wondering about which generation can be most often seen flocking to your store? Dive deep into customer insights using our population by age group data of Bulgaria. Whether your customers are down your street or across the globe, we empower you to pinpoint the ideal demographic for your marketing campaigns or projects. Our dataset offers intricate details on this country's age distribution.
Each data variable is available as a sum, an average, or as a percentage of the total population within each selected area. Continue reading for the list of included data variables:
Available for the total, female, and male population.
This data is available at both the street and 4-digit postal code levels.
Understanding Bulgarian age demographics is a critical tool for marketers to create advertising that deeply resonates with their target audience. Different age groups possess unique preferences, values, and consumption habits. By delving into these demographics, marketers can tailor their messaging, visuals, and channels to craft more relevant and engaging campaigns.
Whether you're catering to tech-savvy Gen Z, career-focused Millennials, or financially established Baby Boomers, age demographics provide invaluable insights for crafting advertising that not only captures attention but also fosters genuine connections with consumers, ultimately driving brand loyalty and sales.
Spotzi Profiling and Targeting enable you to swiftly analyze age demographics and convert your insights into highly targeted marketing campaigns.
At the 4-digit postal code level, there are 4,619 areas in this dataset.
Spotzi Profiling simplifies gaining deeper insights into the demographics of your (potential) customers in Bulgaria. At Spotzi, you have the following options:
After analyzing your locations with Profiling, Spotzi Targeting helps you turn your analysis into action. Spotzi Targeting offers assistance in perfectly targeting your desired audience with various enticing options:
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According to Cognitive Market Research, the global senior living market will be worth USD XX million in 2024 and expand at a compound annual growth rate (CAGR) of 10.20% from 2024 to 2031.
North America held the major market of more than 30% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.4% from 2024 to 2031.
Europe accounted for over 25% of the global market size of USD XX million.
Asia Pacific held a market of around 36% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 12.2% from 2024 to 2031.
Latin America's market will have more than 5% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 9.6% from 2024 to 2031.
Middle East and Africa held the major market of around 4.00% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 9.9% from 2024 to 2031.
Assisted living held the highest Senior Living market revenue share in 2024.
Key Drivers of Senior Living Market
Increasing Demand for Senior Healthcare and Active Lifestyle to Propel the Growth
The increasing demand for senior healthcare is expected to boost the global senior living market significantly. As the global population ages, driven primarily by the aging baby boomer generation and improving healthcare, there is a growing need for specialized housing and healthcare services tailored to seniors. Further, medical technology and treatments have enabled seniors to live longer and healthier lives, increasing the demand for senior living options that provide access to high-quality healthcare and rehabilitation services.
Additionally, the preference for active lifestyles among seniors has led to a demand for senior living communities that offer a wide range of amenities, including fitness centers, recreational activities, and social engagement opportunities. Also, the COVID-19 pandemic has highlighted the importance of infection control and healthcare infrastructure in senior living communities, driving the need for innovative solutions and technologies to ensure the safety and well-being of residents.
Generally, the increasing demand for senior healthcare, coupled with evolving consumer preferences and regulatory changes, is expected to drive significant growth in the global senior living market in the coming years.
Aging Baby Boomer Population to Propel Market Growth
The aging baby boomer population is poised to drive substantial growth in the senior living market. As baby boomers age, there is an increasing need for specialized housing, healthcare services, and amenities tailored to their unique needs and preferences. This includes a growing demand for independent living communities, assisted living facilities, memory care units, and skilled nursing facilities. These accommodations offer varying levels of support and care, allowing seniors to maintain their independence while receiving assistance with daily activities or healthcare needs as necessary.
Furthermore, the absolute size of the baby boomer cohort means that their transition into older age is driving extraordinary demand for senior living options. This demand is not only for housing and healthcare but also for social engagement, recreational activities, and wellness programs designed to promote healthy aging and quality of life.
Moreover, the aging baby boomer population is influencing the development of innovative senior living solutions, including technology-enabled care, age-friendly design features, and personalized services to meet this demographic's diverse needs. The aging baby boomer population largely represents a significant driver of market growth in the senior living sector, shaping the demand for a wide range of housing, care, and lifestyle options for older adults.
Restraint Factors of Senior Living Market
Low Life Savings of Baby Boomers to Impede the Growth
The low life savings of baby boomers could pose a challenge to the growth of the senior living market. While the aging baby boomer population represents a significant demographic segment driving demand for senior living options, their financial preparedness for retirement varies widely. Many baby boomers face financial ...
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Curious about your clientele in Croatia? Wondering about which generation can be most often seen flocking to your store? Dive deep into customer insights using our population by age group data of Croatia. Whether your customers are down your street or across the globe, we empower you to pinpoint the ideal demographic for your marketing campaigns or projects. Our dataset offers intricate details on this country's age distribution.
Each data variable is available as a sum, an average, or as a percentage of the total population within each selected area. Continue reading for the list of included data variables:
Available for the total, female, and male population.
This data is available at both the street and 5-digit postal code levels.
Understanding Croatian age demographics is a critical tool for marketers to create advertising that deeply resonates with their target audience. Different age groups possess unique preferences, values, and consumption habits. By delving into these demographics, marketers can tailor their messaging, visuals, and channels to craft more relevant and engaging campaigns.
Whether you're catering to tech-savvy Gen Z, career-focused Millennials, or financially established Baby Boomers, age demographics provide invaluable insights for crafting advertising that not only captures attention but also fosters genuine connections with consumers, ultimately driving brand loyalty and sales.
Spotzi Profiling and Targeting enable you to swiftly analyze age demographics and convert your insights into highly targeted marketing campaigns.
At the 5-digit postal code level, there are 299 areas in this dataset.
Spotzi Profiling simplifies gaining deeper insights into the demographics of your (potential) customers in Croatia. At Spotzi, you have the following options:
After analyzing your locations with Profiling, Spotzi Targeting helps you turn your analysis into action. Spotzi Targeting offers assistance in perfectly targeting your desired audience with various enticing options:
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Curious about your clientele in Poland? Wondering about which generation can be most often seen flocking to your store? Dive deep into customer insights using our population by age group data of Poland. Whether your customers are down your street or across the globe, we empower you to pinpoint the ideal demographic for your marketing campaigns or projects. Our dataset offers intricate details on this country's age distribution.
Each data variable is available as a sum, an average, or as a percentage of the total population within each selected area. Continue reading for the list of included data variables:
Available for the total, female, and male population.
This data is available at both the street and 5-digit postal code levels.
Understanding Polish age demographics is a critical tool for marketers to create advertising that deeply resonates with their target audience. Different age groups possess unique preferences, values, and consumption habits. By delving into these demographics, marketers can tailor their messaging, visuals, and channels to craft more relevant and engaging campaigns.
Whether you're catering to tech-savvy Gen Z, career-focused Millennials, or financially established Baby Boomers, age demographics provide invaluable insights for crafting advertising that not only captures attention but also fosters genuine connections with consumers, ultimately driving brand loyalty and sales.
Spotzi Profiling and Targeting enable you to swiftly analyze age demographics and convert your insights into highly targeted marketing campaigns.
At the 5-digit postal code level, there are 20,512 areas in this dataset.
Spotzi Profiling simplifies gaining deeper insights into the demographics of your (potential) customers in Poland. At Spotzi, you have the following options:
After analyzing your locations with Profiling, Spotzi Targeting helps you turn your analysis into action. Spotzi Targeting offers assistance in perfectly targeting your desired audience with various enticing options:
In the first quarter of 2024, 51.8 percent of the total wealth in the United States was owned by members of the baby boomer generation. In comparison, millennials owned around 9.4 percent of total wealth in the U.S. In terms of population distribution, there is almost an equal share of millennials and baby boomers in the United States.
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BASE YEAR | 2024 |
HISTORICAL DATA | 2019 - 2024 |
REPORT COVERAGE | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
MARKET SIZE 2023 | 24.22(USD Billion) |
MARKET SIZE 2024 | 25.28(USD Billion) |
MARKET SIZE 2032 | 35.6(USD Billion) |
SEGMENTS COVERED | Expatriate Purpose, Expatriate Demographics, Duration of Stay, Origin Country, Regional |
COUNTRIES COVERED | North America, Europe, APAC, South America, MEA |
KEY MARKET DYNAMICS | Increasing migration trends, Demand for international services, Cultural integration challenges, Economic stability impacts, Rising technological adoption |
MARKET FORECAST UNITS | USD Billion |
KEY COMPANIES PROFILED | SIRVA, KPMG, Aon, Fragomen, Deloitte, ExpatsOnline, Cigna, Bupa, Santa Fe Relocation, InterNations, Mercer, Global Mobility Solutions, Allianz, Cigna Global Re, William Russell |
MARKET FORECAST PERIOD | 2025 - 2032 |
KEY MARKET OPPORTUNITIES | Remote work solutions, Cross-border financial services, Cultural adaptation programs, International health insurance, Global relocation services |
COMPOUND ANNUAL GROWTH RATE (CAGR) | 4.38% (2025 - 2032) |
This statistic presents a ranking of the most popular social networks of Baby Boomer and Senior internet users as of the third quarter of 2020. Overall, only 32 percent of U.S. Boomer and Senior respondents stated that they used photo sharing app Instagram, compared to 51 percent of the general online population.
Millennials were the largest generation group in the U.S. in 2023, with an estimated population of 72.7 million. Born between 1981 and 1996, Millennials recently surpassed Baby Boomers as the biggest group, and they will continue to be a major part of the population for many years. The rise of Generation Alpha Generation Alpha is the most recent to have been named, and many group members will not be able to remember a time before smartphones and social media. However, the group already makes up around 42.75 percent of the U.S. population, and they are said to be the most racially and ethnically diverse of all the generation groups, with the oldest Generation Alpha members aging into adolescents this year. Boomers vs. Millennials The number of Baby Boomers, whose generation was defined by the boom in births following the Second World War, has fallen by around seven million since 2010. However, they remain the second-largest generation group, and aging Boomers are contributing to steady increases in the median age of the population. Meanwhile, the Millennial generation continues to grow, and one reason for this is the increasing number of young immigrants arriving in the United States.