Google officially supports the suggestedAge property as an alternative to suggestedMaxAge and suggestedMinAge within its product structured data. Google says they added this support to make it more flexible for people to specify age ranges for a product.
Google noted this change over here saying, "Added support for the suggestedAge property as an alternative to suggestedMaxAge and suggestedMinAge." Google also noted that it has "Clarified the list of possible values for age ranges in our Product structured data documentation."
Truth is, I do not see these changes notated yet and by the time I wrote this, the link in the documentation seems to be going to the wrong place but hopefully by the time you read this, you will see the update. (Update - now fixed...)
Google said it made this change to "make it easier and more flexible for people to specify age ranges for a product." Google also made this change because "the previous wording was confusing and didn't map well to the Merchant Center documentation about product age ranges."
I do see the max age and min age properties mentioned in the Google Merchant Center structured data docs, it says, "Use the audience property to specify a PeopleAudience object which specifies the age group using its suggestedMinAge and suggestedMaxAge properties."
You can see this documented under the Google Merchant Center tab:
Then you see it over here:
Here are the age groups documented there but it does not mention the new "suggestedAge" property yet there:
Forum discussion at X.