India’s affluent consumer population could grow more than fourfold over the next decade and overtake China by 2036, according to a new report projecting a major shift in global consumer spending power.
India is estimated to have around 2.6 crore affluent consumers in 2026. The number could rise to 10.8 crore by 2036, adding approximately 8.2 crore consumers over the decade. China’s affluent consumer population, meanwhile, is projected to reach 10.3 crore after adding around 6.2 crore people.
The report defines affluent consumers as people who spend more than $90 a day. The category is based on daily expenditure and should not be interpreted as the number of wealthy individuals based on income or net worth.
India is also projected to benefit from a rapidly expanding middle class and rising spending power. The country is classified as a major volume-growth market, with broader household participation expected to drive demand across several consumer categories.
At the same time, growing affluence could boost demand for premium products, convenience and higher-quality offerings. However, consumers are expected to remain value-conscious, with many willing to pay more only when they see clear benefits.
Globally, the affluent consumer population is projected to rise from 65.7 crore in 2026 to 102.5 crore by 2036. While India’s growth outlook appears strong, the report noted that the figures remain projections and actual outcomes could differ.
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