Which Products Will Consumers Spend More on in 5 Years?

The team at LLC Attorney analyzed business and economic trends to determine which products consumers will spend the most on over the next five years. Analysts invest a lot of effort into predicting spending trends to get ahead of the curve. Consumers can benefit from this data by using it to guide savings and create a budget. The team used their data to identify the individual categories that might see the highest spending and then determined how much prices may increase for products in these categories.

Click below to zoom.

Experts expect these products to see the biggest spending increase between 2025 and 2029:

• Food
• Tobacco
• Household Essentials
• Online Education
• Beverages
• Luxury Goods
• Fashion
• E-Services
• OTC Pharmaceuticals
• Furniture

Analysts predict consumers will spend $389 on food in 2029, which is a 12% increase. Food will always be a high-spending category since it’s a necessity. Inflation hit grocery prices hard, and those prices rarely go back down. Part of the reason grocery prices have increased is that busy lifestyles are driving consumers to spend more on convenience food and meal kits. At the same time, rising restaurant prices drive more people to cook at home, which means a greater spend on ingredients.

The team’s data shows specific food, beverage, and tobacco products with the largest projected spending increases:

• Fish and Seafood
• Oils and Fats
• Sauces and Spices
• Bread and Cereal Products
• Spreads and Sweeteners
• Confectionery and Snacks
• Meat
• Dairy Products and Eggs
• Fruits and Nuts
• Vegetables

Outside of those three categories, these specific products have the highest projected spending increase:

• Tissue and Hygiene Paper
• Luxury Watches and Jewelry
• Online University Education
• Luxury Fashion
• Home and Laundry Care
• Accessories
• Luxury Leather Goods
• Beauty Tech
• Grocery Delivery
• Prestige Cosmetics and Fragrances

It may be surprising to see tobacco spending increase so much. Surveys show that young adults are using more tobacco than the previous generation because of the popularity of vapes and e-cigarettes. “Vice markets” tend to rise in periods of economic strain, so the sales very well may hold firm.

The household essentials category is similar to high grocery spending. Toilet tissue is an essential item, and the COVID-19 pandemic drove up spending on cleaning products. It seems many Americans haven’t relaxed their cleaning standards since then.

A combination of current trends and expert analysis on consumer behavior leads to these spending predictions. Demographics, interests, needs, and economic stability all contribute to a population’s spending habits. Not all trends are predictable. Significant events like warfare and natural disasters can dramatically impact prices and spending habits in ways that economists may not be able to predict. While not every change can be expected, this data can still provide an accurate forecast, and consumers should pay attention to areas where prices are set to increase. Perspective business owners can also use this information to their advantage and find opportunities for areas that will be in high demand in a few years.