India Poised to Overtake China in Affluent Consumer Base by 2036, According to Report
BENGALURU: India is set to have 10.8 crore affluent consumers by 2036, surpassing China’s projected 10.3 crore, according to a report by NielsenIQ (NIQ) and World Data Lab. The report defines affluent consumers as those spending over $90 daily. Currently, India has about 2.6 crore affluent consumers, with an expected increase of 8.2 crore over the next decade.
China is projected to add 6.2 crore affluent consumers during the same period. Among the countries analyzed, India is anticipated to experience the largest growth in this demographic. The report also estimates that India will have 64.9 crore “core consumers” in 2026, defined as individuals spending between $13 and $90 daily, which is a separate category from affluent consumers.
The United States is expected to have 23.1 crore affluent consumers by 2036, more than both India and China. Globally, the affluent population is forecast to reach 102.5 crore by then, an increase of 36.9 crore from 2026. These projections are based on available data and historical patterns, with actual outcomes potentially differing.
India is classified as a “volume growth” market due to its rising population and expanding middle class. The report notes that growth across various product categories will be influenced by factors such as household participation, affordability, and distribution. Newly affluent consumers are likely to seek products that offer quality, convenience, or status.
The report also highlights consumer behavior trends. Among “upgrade consumers,” 60% prioritize value for money, while 46% are willing to pay for convenience. Despite a willingness to spend more, consumers may opt for cheaper alternatives when premium options do not clearly justify the cost. This comes in the context of a significant rise in global fast-moving consumer goods prices, which increased by 26% between 2021 and 2025.
Affluent consumers wield considerable spending power. In 2026, their global population is estimated at 65.7 crore, compared to 410 crore core consumers. However, affluent consumers are projected to spend $35.9 trillion that year, exceeding the $31.6 trillion expected from the larger core-consumer group. Companies will need to offer products that justify upgrades while maintaining affordable options, as the traditional “average” consumer is no longer a reliable growth target.
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