Single-person households are the fastest growing type globally – and the pace of change in Asia outstrips the rest of the world. Driven by changing lifestyles as young people choose to relocate to cities and focus on their careers, as well as rising divorce rates, consumers living alone are fast becoming a power demographic in APAC. By 2040, 10% of all households worldwide will be a single-person home in Asia.¹ And almost one in five APAC consumers will live alone.¹

• Mostly urban dwellers in the region’s large, cosmopolitan cities
  
  
• Single young professionals who can afford to rent or buy alone
  
  
• Divorced people in middle age with no dependent children
  
  
• Independent older consumers with good financial security
  
  

More people living alone means more demand for individual dwellings; in Japan, for example, single-occupancy apartments have the lowest risk of vacancy.¹ Small apartments will require compact furniture and large electrical goods such as fridges to fit, while there could also be higher demand for furniture and homeware that offer storage or space-saving design.

Businesses that serve or help facilitate different types of companionship could see increased demand from this demographic. For example, in South Korea, the rise in people living alone has occurred alongside a 60% increase in pet ownership.³

There is no one ‘type’ of person that defines a typical single household in the APAC region. Instead, they span a wide range of ages and income brackets, and there are variations by country. That means businesses should consider looking closely at the demographics in each territory before deciding on sales and marketing strategies.