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Consumers’ attitudes and habits in the very diverse Asia Pacific region have evolved significantly in recent years, with a variety of economic, demographic and social changes helping mould a new, more dynamic consumer profile. Among other trends, consumers are generally earning more, moving to cities, having fewer children and living longer. In coming years, members of the growing middle class in the region are expected to drive increased demand for a wide range of modern goods and services.
Source: Euromonitor International
Disposable incomes in the Asia Pacific region are projected to grow by 78.0% (in real terms) over the 2017–2030 period, spurring growth in the middle class in China, Indonesia, Malaysia, the Philippines, Singapore, Taiwan and Thailand.
The 65+ age group in the region is projected to expand to a size greater than that of the entire population of North America by 2019. The Senior segment (80+), also known as the ‘super-aged’, will themselves increase by over 36 million between 2017 and 2030.
By 2030 there will be 19 megacities in the Asia Pacific region, with Jakarta overtaking Tokyo to become the world’s largest megacity.
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