Trend Megatrend 6: growth of the middle class and of consumption worldwide

Summary

The sixth megatrend in the Megatrends 2040 report is the worldwide expansion of the middle class and of consumption. The middle class is growing faster than other classes and capturing a larger share of total income, which brings investment opportunities, changing consumer behaviour and higher overall purchasing power. The report argues that the larger the middle class becomes, the more the economy grows over the long term, through stable demand, trust, better governance and shared values. Most of this growth is expected in Asia, with China and India together accounting for two-thirds of the global middle class by 2030. However, shifting consumption patterns are also expected to drive sharp increases in demand for food, water and energy.