The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
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Learn moreAug 2018
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The continuing growth of the region’s young, urban population is expected to drive increased demand for an array of modern goods and services in coming years. High birth rates and the large number of family households will ensure sustained demand for child-related products, but increasing levels of disposable income will result in growth of single-person households. High income inequality will continue to drive variances in consumer spending patterns and choices in nearly all product categories.
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With an average of 3.9 children born per female expected in 2030, baby products will remain a huge market. Products that offer convenience will be particularly popular as women are expected to continue to join the workforce in increasing numbers.
It is projected that in 2026 urban residents will outnumber rural residents for the first time, significantly changing the consumer fabric and expanding consumers’ choices in terms of food, household items and a wide range of other products.
Despite the robust growth of single-person households, the majority of households in the region will still consist of couples with children, ensuring sustained demand for child-related products and services, including educational products and services.
The growing number of new urban residents will be faced with myriad challenges, including ensuring greater home security and affordable energy bills. It is expected that these concerns will drive increased demand for a wide range of modern, smart product solutions, including digital IoT home systems, energy-saving appliances and alternative home energy sources such as solar panels.
Unemployment remains stubbornly high among teenagers and young adults in the region. As a result, many young people are increasingly looking for alternative career opportunities, including starting their own businesses. Highly motivated and digitally connected, this large group of young entrepreneurs is expected to drive demand for a wide range of modern goods and services in coming years.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.