Getting ahead of the curve Growth in Asia’s emerging consumer landscape

Without a robust view on future consumer demand, sustainable growth through strategy development is not possible. Asia’s rapidly evolving consumer landscape presents a challenge to companies striving to keep their product portfolios relevant and positioned for growth across markets. This EIU Canback special report explains how Asia’s consumer landscape will evolve over the coming decade and how companies can capture this growth by leveraging analytics to anticipate turning points such as take- off or plateau points in the life cycle of a product category.

Asia accounted for 25.6% of global consumer spending in 2015. Yet, as a sign of the region’s vast potential, three quarters of Asia’s consumers have not yet reached affluence levels to be considered part of the mainstream consumer class.

The mainstream consumer class will increase from 23% of Asia’s population to 43% in 2025. India will outshine China in growth of the mainstream consumer class. However, China will maintain a large advantage in total spending, especially in premium segments.

China and India will account for three quarters of Asia’s increase in mainstream consumers over the coming decade. Indonesia and Pakistan will make up for much of the rest.

Asia’s premium segment will outpace the mainstream segment. Asia’s premium consumers’ share of the total population will rise from 5.5% in 2015 to 11.5% in 2025. Outside of India and China, Indonesia and South Korea are likely to see the largest increases in the premium consumer base.

Understanding how consumer classes affect category life cycles is critical for building product portfolios that are positioned to capture Asia’s growth.

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