BANK OF AMERICA: These 17 companies are best positioned to benefit from the millennial boom, which offers investors a $62 trillion opportunity

• Millennials and centennials (aged 0-18) are "the world's most important demographics," according to analysts at Bank of America Merrill Lynch.
• They compiled a list of global buy-rated public companies that are best positioned to benefit from the demographic boom.
• The combined income of both groups should grow to $62 trillion by 2030, BAML estimates.

"The world's most important demographics" are about to take over, according to Bank of America Merrill Lynch.

Millennials, aged 19-35, have already overtaken baby boomers as the largest living generation in US history, and Gen Z, aged 0-18, is coming right behind them. BAML estimates that their combined income could grow from an estimated $21 trillion in 2015 to $62 trillion by 2030.

Investors can earn a slice of that cash pile.

BAML compiled a list of buy-rated companies positioned to benefit from the growth of these demographics. It identified the 17 companies below as having "high" millennial exposure, meaning millennial/centennial-related products are core to their sales and business models.

"We need to prepare for the rise of the 2.4bn Centennials - born at the turn of the century and set to live to over 100Y," Beijia Ma, an equity strategist, said in a note on Monday. "They are embracing diversity, sustainability, globalization, disruptive technology, "peak stuff", new business models, and entrepreneurialism like no generation before them - and they are economically optimistic to boot.

Ma said investors should look into the fundamentals of each company before making any decisions to buy the stocks. She added that while these stocks are going to be moved by more than their relationship to millennials, they're important to keep track of, since the demographic boom is set to be a long-term trend.