Global Population Trends

Demographic trends such as population ageing, urbanisation, and increased health risks continue to shape economies and consumer markets. In 2020, the global population aged 65 and up continued to grow as lifespans increased, while the number of children aged 0-4 decreased as birth rates plummeted. In 2020, Asia Pacific's urban population will reach 2 billion, with the Middle East and Africa seeing the world's fastest urbanisation. The Coronavirus pandemic has halted migration and will continue to do so until 2020.

The Global Population Is Expected to Reach Eight Billion by 2027 and Will Approach Nine Billion by 2030: Global population growth will continue to be driven by increased live births and rising life expectancy, particularly in developing nations, though at a slower pace. Nearly 88 % of the world's population will live in developing and emerging countries by 2030, transferring consumer influence (and spending) away from industrialised economies.

Population Ageing Accelerates: By 2030, the global number of people aged 65 and above will have increased to 1.3 billion, or 15% of the total population, from 0.7 billion, or 9% of the entire population in 2020. Longer lives will have an impact on consumer profiles in terms of shifting preferences and demands, as well as spur age-friendly technologies.

Urbanisation Continues to Fuel Consumption and Lifestyles: By 2030, the urban population will have increased from 57 % of the total to 63 %. Because urban residents have a larger average purchasing power, urbanisation will be a primary driver of consumption and lifestyle trends. Over the period 2020-2040, the Asia Pacific region will witness the greatest increase in urban population, followed by the Middle East and Africa.

Singletons are set to exceed the Married in Number: By 2030, the world's single population will have surpassed that of married people. Singles present unique difficulties and opportunities for consumer products and services companies because to their diversified purchasing patterns. The Asia Pacific area will see the fastest growth in the singles population between 2020 and 2030.

Holistic Wellbeing Is On The Rise: Governments and consumers will prioritise preventative health and holistic wellbeing in the face of rising health issues such as obesity, diabetes, and hypertension, as well as the severe impact of COVID-19.