As India’s middle class grows, consumer goods companies are focusing on this segment to expand market share and drive innovation. The rising aspiration and spending power are boosting demand for premium products, prompting firms to enhance their offerings and adapt marketing strategies.
Retail intelligence platform Bizom’s Akshay D’souza noted the middle class’s role in driving high-margin consumption. Companies like Hindustan Unilever are relaunching brands like Vim and Ponds to align with evolving consumer preferences.
The shift from saving to spending, particularly on luxuries, is creating opportunities for new premium products. For example, Parle Products is offering smaller packs of premium goods.
The middle class, expected to grow from 30% to 50% of the population by 2030, is further supported by increased female workforce participation and e-commerce growth. Companies like Adani Wilmar are tailoring products to regional preferences and premium markets. Experts predict that brands will continue to expand and refine their offerings to meet the needs of this influential consumer group.
