Households globally are transforming in a fast-paced world, being reshaped by demographics, socioeconomic factors and technology. As consumers seek better opportunities for education and employment, movement towards urban areas will be strong. Interest in devices and durables that complement consumers’ lifestyles remains significant. Thus, with changing consumer priorities and increasing access to basic amenities, the household structure is evolving, along with homes becoming sanctuaries of comf
This report comes in PPT.
Couples with children accounted for over 30% of all household types in 2022, but the global average household size is expected to reduce to 3.2 persons in 2040, with rapid growth in single-person households, along with ageing populations and a decline in the average number of children per household, especially in Asia Pacific and the Middle East and Africa.
Though houses remain the leading dwelling type in 2022, the number of households living in apartments almost doubled between 2000 and 2022, to reach 859 million. Asia Pacific has 68% of such households, owing to changing lifestyles, urbanisation, population density and limited space for houses in cities. Also, while smaller apartments have had a higher prevalence historically, bigger dwelling units are set to grow in number in the forecast period.
Consumers are benefiting from increasing access to household facilities and internet access, and are equipping their homes with gadgets that complement their lifestyles. Consumers are opting for products that save time and offer convenience, and are thus eschewing single-use durables based on older technology. Instead, they are seeking digital devices that aid work, productivity, communication and social interaction.
The share of households with female heads of is predicted to increase to 28% in 2040, reaching 801 million. The migration of male household members to urban areas in search of better employment opportunities is leading to women taking charge of households, such that they are considered the head of the household and take the key decisions for the family.
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