Below are the key trends highlighted in the new research.
Globally, SUVs are the fastest growing light vehicle segment with demand increasing 5 percent each year between 2017 and 2022, outpacing the 3 percent sales growth for the overall light vehicles category.
“China and India are set to continue growing in both light vehicle production capacity and domestic demand, further challenging the United States,” says Eric Totaro, automotive analyst at Euromonitor International.
“By 2030, annual passenger car registrations in China are expected to more than double, growing from 22 million to 45 million,” continues Totaro.
Consumer movement toward prevention over treatment represents the key emerging trend for consumer health, as vitamins and dietary supplements, sports nutrition and weight management products outpace over-the-counter, or OTC, from 2017 to 2022 at a compound annual growth rate (CAGR) of 3.2 percent, 6.8 percent and 2.9 percent, respectively, versus 2.1 percent for OTC products.
“Supplementation has become a cornerstone component of healthy living trends across developed and emerging economies, leading to a broader consumer interest for these products,” says Matthew Oster, head of consumer health at Euromonitor International.
Cash payments are expected to decline by US$772 billion over the next five years compared to an increase of US$9.2 trillion for card payment value globally. The top-5 markets – China, US, UK, South Korea and Japan – account for 70 percent of global card payment value in 2017 while the Asia Pacific region accounted for 50 percent of total card payment value.
“China is forecast to have single-digit growth rates for card payment value over the next five years after a decade of double-digit growth, but is still expected to more than double m-commerce value from 2017 to 2022, reaching US$1.3 trillion,” says Kendrick Sands, senior consumer finance analyst at Euromonitor International.
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