Consumers to Spend a Record $150B on Essentials in 2025, a $30B Surge in Just One Year

Household spending has soared over the past five years as inflation pushes up the prices of essentials, while shrinkflation makes products smaller but more expensive. Since 2019, the amount of money households worldwide spend on essentials has surged by nearly 145%, jumping from $50 billion to a shocking $122 billion in 2024. Even more worrying is that this trend shows no signs of slowing down, with 2025 set to shatter records again.

According to data presented by Stocklytics.com, consumers worldwide are expected to spend a record-breaking $150 billion on essentials in 2025, marking a staggering $30 billion increase in just one year.

Households to Spend 22% More on Essentials in 2025 Than Last Year

In 2025, households across the globe will be spending nearly three times more on essentials than they did back in 2019. Inflation, shrinkflation, and the surging demand for premium and eco-friendly products are the major drivers behind this shocking triple-digit growth. Unfortunately, returning to pre-pandemic spending levels seems almost impossible. In fact, the Statista Market Insights survey shows household prices across the globe will keep rising, pushing market revenue to new all-time highs.

The Statista data show that annual household spending had increased by an average of 25% between 2019 and 2021, with the market revenue hitting nearly $85 billion that year. The following two years brought a brief slowdown, with household spending rising by only 6% and 9%, respectively. But after this temporary dip, household essential prices started surging again.

Last year, the global household spending soared by 23% and hit $122.6 billion. Statistics show 2025 is on track for another 22% increase, bringing total spending to a record-breaking $150 billion.  To put this into perspective, this massive $30 billion surge in just one year equals the market revenue reported in 2016 or 2017.

Statistics show this negative trend will affect all major markets and regions. However, China’s household essentials market is expected to grow the most, rising by 22.8%. The United States and Europe follow closely, with projected growth rates of 22.5% and 21.4% in 2025, respectively.

Household Spending to Top $200 Billion by 2028

Although Statista’s forecast shows a slowdown in annual growth beginning in 2026, with the rate falling to 5% by 2028, the cumulative increase will still be massive.

With rising prices, shifting consumer habits, and economic pressures reshaping daily budgets, global spending on household essentials will soar to over $200 billion by 2028, growing by an average of $14 billion per year. This shocking figure not only raises the question of how much households will spend in years after that but also how they will they adapt to an era of ever-rising costs.