Consumer giants

Between 2022 and 2030, India and China are forecast to add 297 million and 238 million people to the global consumer class, respectively,  according to World Data Lab. The consumer class is defined as people spending more than USD 12 per day. India’s consumer class growth will be among young people, while China will predominately add consumers above the age of 45. Currently, China’s consumer class has a median age of 39 while the median consumer is only 30 years old. These large socio-demographic shifts will likely result in India accounting for 20% of the world’s youth consumer market and China representing 25% of the world’s senior market.

Source: World Data Pro, 2023.