Gen X leads global spend with $15t in 2025, NIQ says

They are projected to maintain their lead through 2033.

Generation X is dominating global consumption whilst Gen Z is on track to become the fastest-growing — and eventually wealthiest — cohort in history, according to an NIQ report.

Gen X spent $15.2t globally in 2025 and is projected to lead generational spend through 2033, with its affluent spending forecast to remain the largest until 2036.

Categories poised to benefit include Functional Beverages, Speciality Snacks, Beauty & Personal Care, and Coffee & Tea at the premium end, and bulk formats, multipacks, and Household and Pet Care products at the value end.

Meanwhile, Gen Z will be the largest and wealthiest generation in history. Its share of total generational spend is projected to grow to 19.3% in 2030 from 18.2% in 2026.

Its affluent spending is forecast to rise to $12.4t by 2036 from $5.4t in 2026, reflecting an 8.68% compound annual growth rate.

Moreover, in-store mass merchandise and grocery still account for 50% of Gen Z's dollar share, and 53% of Gen Zers say they have used "buy" buttons on social media platforms.

As for millennials, they are entering peak household spending years whilst carrying higher debt loads than prior generations did at the same life stage, and will remain the largest core spending market until 2036.

The report frames the Millennial opportunity as ‘defensible premium’, spanning Beauty & Personal Care, clean-label food, Functional Beverages, Speciality Coffee & Tea, and Pet Care on the upgrade side, and Household essentials, family staples, and Baby and Childcare products on the value side.

Further, boomers' growth influence is tapering as younger generations gain spending power, but the cohort remains significant in health-related and need-based categories due to high medical and replenishment spend.

They are likely to trade up in health, speciality foods, and premium over-the-counter products, whilst trading down on Home Care basics and over-the-counter generics.