I started going to folk clubs and sessions when I was 19. I dipped in and out of the folk 'scene' in intervening years. I'm now 44 and still going. I think there are more younger people going to folk clubs and sessions now than there was back when I first started going. Folk has had a bit of a resurgence recently, this is partly due to the next generation of folk artists such as Eliza Carthy. Also bands such as Mumford & Sons have made it popular (love them or hate them..) I would say their style is folksy music rather than folk music. But then I'm not going to restart that old argument..there's enough of that on here already ;)
Not to mention the resurgence of beards amongst young men..