The recent past has seen enormous population changes including rapid urbanisation, accelerating migration and population ageing. These changes are set to continue in the future with far-reaching implications. They play a powerful role in driving the most influential megatrends impacting consumer markets. These megatrends include Healthy Living, Ethical Living, Connected Consumers, Shopping Reinvented, Middle Class Retreat, Premiumisation, Experience More and Shifting Market Frontiers.
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Euromonitor International identified rapid urbanisation, accelerating migration and population ageing as the most important forces of global population change, as they have the power to transform the world we live in. The pace of change, however, varies significantly between different countries.
The unprecedented shift from rural to urban living is a major population change impacting the global consumer landscape. Asia and Africa, in particular, are undergoing rapid urbanisation with implications ranging from expanding middle classes and smaller families to rising obesity and environmental pollution.
Global migration is on the rise and is becoming a key feature in a globalised and interconnected world. Although the effect of migration is uneven between countries, where it occurs, migration has a profound impact on both the country that has been left behind and the country that is being migrated to.
The developed world is ageing as a result of fertility rates falling below the natural replacement level, but ageing is not restricted to developed countries. In particular, China is home to a fifth of the world’s urban population and to an even larger proportion of the global population aged 65+ as a consequence of rapid ageing.
Each of the key aspects of global population change examined in this report has the potential to generate both tremendous opportunities to seize and substantial risks and challenges to mitigate. But together they become the transformative force of population change that contributes to generating and shaping the eight most influential megatrends impacting consumer markets.