Abstract:

The Emerging Markets house the bulk of human populace, with China and India alone accounting for about 30% of the world's population. As these markets have developed and per capita income has risen in many of these countries, they have become growth engines for global consumer companies. For example China's per capita incomes tripled in nominal terms in the 1990s and India followed suit with its per capita income tripling between 2002 and 2011. The middle income group or the ‘aspirational classes’ grew by about 67% in numbers, in India and China, in the first decade of this century. Large CPG multinationals reported 37% - 57% of their sales from emerging markets in 2012, and this percentage is growing.