Consulting Point observes that Asia Pacific is set to overtake North America as the world’s largest consumer market within the next decade. Private consumption across the region is accelerating rapidly, reshaping where and how global growth will be generated.
This expansion reflects more than rising demand. It signals a structural shift in consumer behaviour, channel dynamics, and market leadership that will define the outlook for consumer businesses from 2026 onwards.
Healthier growth dynamics than mature markets
Recent performance highlights the region’s relative strength. Growth is increasingly driven by volume rather than price, contrasting with patterns seen in North America and Western Europe.
However, performance across Asia Pacific is uneven. While some markets are accelerating, others are moderating, reinforcing the need for nuanced, market-specific strategies rather than regional generalisations.
Diverging trajectories across key markets
India continues to demonstrate strong momentum, while parts of Southeast Asia have experienced a slowdown. China is showing early signs of recovery, supported by digital and online channels, and North East Asian markets remain buoyed by e-commerce growth.
Consulting Point notes that this divergence underscores a critical reality. Asia Pacific is no longer anchored to a single growth engine, but operates as a portfolio of markets moving at different speeds.
Six forces shaping the consumer landscape
Looking ahead, several structural forces are reshaping consumption across the region.
Economic growth is becoming more distributed, requiring diversified market strategies. Consumer preferences are diverging, with premiumisation, polarisation, and value-seeking behaviours coexisting across markets. Channel complexity is increasing as e-commerce, social commerce, and quick commerce reshape the consumer journey.
Local brands are gaining strength, often outpacing multinational competitors through speed and local relevance. Agility at scale is emerging as a key differentiator, with leading companies replicating best practices while empowering local teams. AI is increasingly embedded across the value chain, supporting faster and more informed decisions when grounded in robust data.
The strategic implications for consumer businesses
To achieve sustainable growth, companies must clearly define the role each market plays, whether as a growth engine, profit centre, or innovation platform. Value propositions need to extend beyond price, reflecting local preferences and expectations.
Business models must also adapt to new channels, while multinational organisations build the capability to transfer knowledge and scale success across borders. Consulting Point believes that enterprise-wide AI adoption, underpinned by reliable data and strong consumer insight, will be central to delivering both growth and efficiency.
Asia Pacific’s rise as the world’s leading consumer market is not a uniform opportunity. Success will depend on the ability to localise quickly, scale intelligently, and respond to increasingly fragmented consumer behaviours. Those that balance local relevance with regional coordination will be best positioned to capture the next decade of global consumption growth.