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Gen X to drive $500 billion in consumption in India by FY30: Report
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The report from market research firm RedSeer said the consumption growth will be supported by a steady rise in per-capita consumption. Preventive healthcare spending by Gen X is projected to scale to $73 billion by FY30 at a 17 per cent compound annual growth rate (CAGR), it added.
New Delhi: Gen X (people born between 1965 and 1980) are expected to consume over $500 billion worth of goods and services by FY30, making the cohort "a disproportionately valuable driver of durable premium growth," a report said on Friday.
The report from market research firm RedSeer said the consumption growth will be supported by a steady rise in per-capita consumption. Preventive healthcare spending by Gen X is projected to scale to $73 billion by FY30 at a 17 per cent compound annual growth rate (CAGR), it added.
Nutraceutical spending is projected at $20 billion by FY30 growing at 25 per cent CAGR, reflecting an outcomes-first approach to wellness and everyday health optimisation, the report further said. Gen X beauty and personal care market is expected to reach $8 billion by FY30 as preferences shift from trends to treatments, it added.
Gen X travel is becoming slower, more indulgent and comfort-led with a 25 per cent year‑on‑year rise in alternative accommodation and boutique stays. The cohort has a strong preference for premium cabins and five-star stays for leisure, the report noted.
Education remains “legacy spend” for Gen X parents, with urban families spending up to Rs 10–20 lakh per child annually, alongside increasing adoption of Cambridge and IB schooling and overseas programmes, it said.
“Gen X is perhaps the most understated force in India’s consumption story, as of now. Though they are financially secure, digitally confident, and clear about what they value,” said Mrigank Gutgutia, Partner, RedSeer Strategy Consultants.
“This is a generation that has moved past discretionary trial and now spends with deliberation on stronger health outcomes, deeper travel experiences, better-designed homes, and quality built to endure," Gutgutia added.
Another recent report said that India’s salaried class, especially young professionals will drive India’s consumer durables market growth expected at 11 per cent compound annual growth rate (CAGR), reaching Rs 3 lakh crore by 2029.
Source: ZeeNews
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