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Competence Centre on Foresight

We foster a strategic, future-oriented and anticipatory culture in the EU policymaking process.

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Growing consumption

By 2030, the consumer class is expected to reach 5 billion people. This means 2 billion more people with increased purchasing power than today.

Foresight
(© CC0; Eduardo Davad; Pixabay)

By 2030, the global middle class is expected to reach 5.3 billion people. This means an additional more than 2 billion people with increased wishes and purchasing power than today. Most of this growth will be in Asia. By 2030, China and India together will represent 66% of the global middle-class population and 59% of middle-class consumption.
While the expanding middle-class could be a driver for economic development, changes in consumer behaviour and consumption patterns are expected to increase demand for food, water and energy by approximately 35%, 40% and 50% respectively by 2030.

Developments and Forecasts

Worldwide

Population in the world is currently (2020) growing at a rate of around 1.05% per year (down from 1.08% in 2019, 1.10% in 2018, and 1.12% in 2017). The current average population increase is estimated at 81 million people per year.

By 2030, over 70% of China’s population could be middle class, consuming nearly $10 trillion in goods and services and India could be the world’s largest middle class consumer market, surpassing both China and the USA. 

Middle class spending is expected to grow from about $37 trillion in 2017 to $64 trillion by 2030, accounting for a third of GDP growth. Most of it will be driven by the growing consuming classes in emerging economies.
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Relevant EC Work

Policy papers and projects relevant to Growing Consumerism

Models relevant to Growing Consumerism used by the EC

TIM (Tools for Innovation Monitoring) is a tool developed by the EC Joint Research Centre to monitor and better understand the different facets of innovation and technological development.
Use TIM to explore R&I related to growing consumerism

 

(© JRC, European Commission)

The EMM News Brief, Europe Media Monitoring, is a fully automatic system that analyses both traditional and social media. It gathers and aggregates about 300,000 news articles per day from news portals world-wide in up to 70 languages. 
Use EMM News Brief to explore worldwide news related to growing consumerism

 

(© EU, 2018)

More EC work

Other resources

More resources on this megatrend

Disclaimer: the content presented in this Megatrends Hub does not represent the views of the JRC or those of the EC, nor an endorsement by them.

 


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