India's Gen X pegged to consume USD 500bn worth of goods, services by FY30:RedSeer

New Delhi, Feb 26 (PTI) India's Generation X is expected to consume over USD 500 billion worth of goods and services by FY30, backed by rising per-capita consumption, making it a disproportionately valuable cohort for durable premium growth, according to a report by consulting firm, RedSeer.

Spending on preventive healthcare is projected to scale to USD 73 billion by FY30, growing at 17 per cent CAGR, as Gen X, (aged roughly 45-60 years today), shifts from reactive care to longevity-led prevention, said the report titled 'The Sorted Generation: Gen X as India's Hidden Consumer Powerhouse'.

Similarly, the report noted that nutraceutical spending is projected at USD 20 billion by FY30, growing at 25 per cent CAGR, reflecting an outcomes-first approach to wellness and everyday health optimisation.

Commenting on the findings, RedSeer Strategy Consultants Partner, Mrigank Gutgutia 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." 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, he added.

"As India's retail market approaches the trillion-dollar mark, Gen X will shape where premiumisation acquires substance and where long-term brand loyalty is built," Gutgutia noted.

As per the report, Gen X is accelerating efficacy-led premiumisation in beauty and personal care (BPC), with the Gen X BPC market projected to reach USD 8 billion by FY30 as preferences move from trends to treatments.

In terms of travel, it is becoming slower, more indulgent and comfort-led for Gen X, which is reflected in a 25 per cent YoY rise in alternative accommodation such as luxury villas and boutique stays, and a strong preference for premium cabins and five-star stays for leisure, it 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, the report said, adding Gen X is set to become a major driver of premium and outcomes-led consumption. PTI RKL ANU ANU