Consumer Credit Market Developments and Forecast by 2031

Historic Data: 2021-2023   |   Base Year: 2023   |   Forecast Period: 2023-2031

Consumer Credit Market Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Credit Type (Revolving Credits, Non-revolving Credits); Service Type (Credit Services, Software and IT Support Services); Issuer (Banks and Finance Companies, Credit Unions, and Others); Payment Method (Direct Deposit, Debit Card, and Others); and Geography

  • Report Date : Sep 2025
  • Report Code : TIPRE00039091
  • Category : Banking, Financial Services, and Insurance
  • Status : Data Released
  • Available Report Formats : pdf-format excel-format
  • No. of Pages : 150

The Consumer Credit market size is expected to grow from US$ 12.18 billion in 2023 to US$ 18.60 billion by 2031; it is anticipated to expand at a CAGR of 5.4% from 2023 to 2031. Consumer credit, often known as consumer debt, is personal debt incurred in order to acquire goods or services. Although any sort of personal loan could be classified as consumer credit, the phrase is most commonly used to indicate unsecured debt in small sums. Consumer credit stats are a key index to monitor the health of an economy. It conveys the spending power of a consumer in a particular economy.

Consumer Credit Market Analysis

Credit is an important enabler of consumption for customers who would otherwise be unable to afford a particular product. As more people shop online, innovative digital solutions for point-of-sale finance, frequently designed by nimble technology businesses and seamlessly integrated into the customer journey, are gaining popularity among millennial shoppers who are cautious of incumbent banks' inadequate digital capabilities. Technological advancements and supportive regulation have made it easier for these new competitors to disrupt incumbents' control over the lending value chain and compete on the basis of faster, more personalized, and more efficient service delivery. The loyalty and inertia that formerly bound consumers to their banks are fading across Europe, as regulation has made it easier than ever to create partnerships with several financial service providers.

Consumer Credit

Industry Overview

  • Some of the major factors driving the growth of the consumer credit market are changing urban lifestyles, the rapid proliferation of e-commerce in all regions of the world, technological advancements, and others. For instance, The introduction of artificial intelligence will change the fundamental process of consumer lending. AI technology is designed to improve and simplify administrative tasks, allowing bank workers to devote more time to customer connections. AI-driven interactions enable seamless customer onboarding and reduced turnaround times for risk and compliance duties. Positive consumer experiences can increase client loyalty and referrals.
  • A country's consumer credit business highly depends on the spending behavior of a consumer in the country. For instance, Consumer card spending climbed by only 4.1 percent year on year in 2023 in the UK, far lower than the growth observed in 2022 (10.6 percent), as Brits cut back on new clothes, dining out, and home improvements due to growing inflation and family costs. Consumers, on the other hand, continued to prioritize moments of delight and shared experiences, driving growth in travel, entertainment, and pubs and bars.

Customize This Report To Suit Your Requirement

You will get customization on any report - free of charge - including parts of this report, or country-level analysis, Excel Data pack, as well as avail great offers and discounts for start-ups & universities

Consumer Credit Market: Strategic Insights

consumer-credit-market
  • Get Top Key Market Trends of this report.
    This FREE sample will include data analysis, ranging from market trends to estimates and forecasts.

Consumer Credit Market Driver

Demand for Flexibility in Spending to Drive the Consumer Credit Market

  • Offering consumer loans boosts conversion by giving the flexibility that today's customers want. According to the Foreign & Colonial Investment Trust's Millennial Money Survey, 16% of millennials do not save any money each month, and 7.8 million have no savings at all.
  • Millennials frequently value experiences such as travel, dining out, and entertainment over traditional asset ownership such as homes and cars. As a result, individuals may rely more on credit cards and personal loans to fund these experiences, fuelling demand in the consumer credit market.

Consumer Credit

Market Report Segmentation Analysis

  • Based on the credit type, the consumer credit market report is segmented into revolving credits and non-revolving credits.
  • Revolving credit, which includes credit cards, can be used for any purchase. The credit is "revolving" in the sense that the line of credit remains open and can be utilized up to the full limit repeatedly as long as the borrower continues to make the minimum monthly payment on time.

Consumer Credit

Market Analysis by Geography

The scope of the consumer credit market report is primarily divided into five regions - North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is experiencing rapid growth and is anticipated to hold a significant consumer credit market share. The region's significant economic development, growing population, and increasing focus on risk management and insurance have contributed to this growth. North America is home to many developing countries like the US and Canada, driving the consumer credit market growth.

Consumer Credit

Consumer Credit Market Regional Insights

The regional trends and factors influencing the Consumer Credit Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Consumer Credit Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

consumer-credit-market-global-geography
  • Get the Regional Specific Data for Consumer Credit Market

Consumer Credit Market Report Scope

Report Attribute Details
Market size in 2023 US$ 12.18 Billion
Market Size by 2031 US$ 18.60 Billion
Global CAGR (2023 - 2031) 5.4%
Historical Data 2021-2023
Forecast period 2023-2031
Segments Covered By Credit Type
  • Revolving Credits
  • Non-revolving Credits
By Service Type
  • Credit Services
  • Software and IT Support Services
By Issuer
  • Banks and Finance Companies
  • Credit Unions
By Payment Method
  • Direct Deposit
  • Debit Card
Regions and Countries Covered North America
  • US
  • Canada
  • Mexico
Europe
  • UK
  • Germany
  • France
  • Russia
  • Italy
  • Rest of Europe
Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
South and Central America
  • Brazil
  • Argentina
  • Rest of South and Central America
Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa
Market leaders and key company profiles
  • American Express
  • U.S. Bank
  • Citi
  • Wells Fargo Bank
  • Capital One Bank
  • Revolut
  • Barclays
  • Discover
  • Finastra

  • Consumer Credit Market Players Density: Understanding Its Impact on Business Dynamics

    The Consumer Credit Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

    Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

    Major Companies operating in the Consumer Credit Market are:

    1. American Express
    2. U.S. Bank
    3. Citi
    4. Wells Fargo Bank
    5. Capital One Bank

    Disclaimer: The companies listed above are not ranked in any particular order.


    consumer-credit-market-cagr

    • Get the Consumer Credit Market top key players overview

    The "Consumer Credit Market Analysis" was carried out based on core investment strategies and geography. In terms of credit type, the market is segmented into revolving credits and non-revolving credits. Based on geography, the market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South America.

    Consumer Credit

    Market News and Recent Developments

    Companies adopt inorganic and organic strategies such as mergers and acquisitions in the consumer credit market. A few recent key market developments are listed below:

     

    • In February 2024, Barclays PLC and Blackstone Credit & Insurance today announced that Barclays Bank Delaware has entered into an agreement with insurance accounts managed by Blackstone’s Asset Based Finance group to sell approximately US$1.1 billion of currently outstanding credit card receivables in relation to a defined set of Barclays-branded credit card accounts in the United States of America. This is the first in a series of activities Barclays plans to conduct to reduce its risk-weighted assets (RWAs) and create additional lending capacity for BBDE.

    [Source: Barclays PLC, Company Website]

    Consumer Credit

    Market Report Coverage & Deliverables

    The market report "Consumer Credit Market Size and Forecast (2021–2031)" provides a detailed analysis of the market covering below areas-

    • Market size & forecast at global, regional, and country levels for all the key market segments covered under the scope.
    • Market dynamics such as drivers, restraints, and key opportunities.
    • Key future trends.
    • Detailed PEST & SWOT analysis
    • Global and regional market analysis covering key market trends, key players, regulations, and recent market developments.
    • Industry landscape and competition analysis covering market concentration, heat map analysis, key players, and recent developments.
    • Detailed company profiles.

    Frequently Asked Questions

    What is the estimated market size for the global consumer credit market in 2023?

    The global consumer credit market was estimated to be US$ 12.18 billion in 2023 and is expected to grow at a CAGR of 5.4% during the forecast period 2023 - 2031.

    What are the future trends of the Global Consumer Credit market?

    The use of AI and data analytics is impacting consumer credit, which is anticipated to bring new consumer credit market trends in the coming years.

    Which are the key players holding the major market share of the global Consumer Credit market?

    The key players holding majority shares in the global Consumer Credit market are American Express, U.S. Bank, Citi, and Wells Fargo Bank.

    What will be the market size for the global consumer credit market by 2031?

    The global consumer credit market is expected to reach US$ 18.60 billion by 2031.

    What are the driving factors impacting the global Consumer Credit market?

    Demand for flexibility in spending and rapid urbanization are the major factors that propel the global consumer credit market growth.

    Ankita Mittal
    Ankita Mittal
    Manager,
    Market Research & Consulting

    Ankita is a dynamic market research and consulting professional with over 8 years of experience across the technology, media, ICT, and electronics & semiconductor sectors. She has successfully led and delivered 100+ consulting and research assignments for global clients such as Microsoft, Oracle, NEC Corporation, SAP, KPMG, and Expeditors International. Her core competencies include market assessment, data analysis, forecasting, strategy formulation, competitive intelligence, and report writing.

    Ankita is adept at handling complete project cycles—from pre-sales proposal design and client discussions to post-sales delivery of actionable insights. She is skilled in managing cross-functional teams, structuring complex research modules, and aligning solutions with client-specific business goals. Her excellent communication, leadership, and presentation abilities have enabled her to consistently deliver value-driven outcomes in fast-paced and evolving market environments.

    • Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
    • PEST and SWOT Analysis
    • Market Size Value / Volume - Global, Regional, Country
    • Industry and Competitive Landscape
    • Excel Dataset

    Testimonials

    Reason to Buy

    • Informed Decision-Making
    • Understanding Market Dynamics
    • Competitive Analysis
    • Identifying Emerging Markets
    • Customer Insights
    • Market Forecasts
    • Risk Mitigation
    • Boosting Operational Efficiency
    • Strategic Planning
    • Investment Justification
    • Tracking Industry Innovations
    • Aligning with Regulatory Trends
    Your Key Concerns Addressed - Question & Answer
    Can I view a sample of the report before purchasing?

    Yes! We provide a free sample of the report, which includes Report Scope (Table of Contents), report structure, and selected insights to help you assess the value of the full report. Please click on the "Download Sample" button or contact us to receive your copy.

    Is analyst support included with the purchase?

    Absolutely — analyst assistance is part of the package. You can connect with our analyst post-purchase to clarify report insights, methodology or discuss how the findings apply to your business needs.

    What are the next steps once I place an order?

    Once your order is successfully placed, you will receive a confirmation email along with your invoice.

    • For published reports: You’ll receive access to the report within 4–6 working hours via a secured email sent to your email.
    • For upcoming reports: Your order will be recorded as a pre-booking. Our team will share the estimated release date and keep you informed of any updates. As soon as the report is published, it will be delivered to your registered email.

    Can the report be tailored to suit my specific needs?

    We offer customization options to align the report with your specific objectives. Whether you need deeper insights into a particular region, industry segment, competitor analysis, or data cut, our research team can tailor the report accordingly. Please share your requirements with us, and we’ll be happy to provide a customized proposal or scope.

    In what format is the report delivered?

    The report is available in either PDF format or as an Excel dataset, depending on the license you choose.

    The PDF version provides the full analysis and visuals in a ready-to-read format. The Excel dataset includes all underlying data tables for easy manipulation and further analysis.
    Please review the license options at checkout or contact us to confirm which formats are included with your purchase.

    How secure is the payment process on your platform?

    Our payment process is fully secure and PCI-DSS compliant.

    We use trusted and encrypted payment gateways to ensure that all transactions are protected with industry-standard SSL encryption. Your payment details are never stored on our servers and are handled securely by certified third-party processors.
    You can make your purchase with confidence, knowing your personal and financial information is safe with us.

    Do you provide special pricing for buying multiple reports?

    Yes, we do offer special pricing for bulk purchases.
    If you're interested in purchasing multiple reports, we’re happy to provide a customized bundle offer or volume-based discount tailored to your needs. Please contact our sales team with the list of reports you’re considering, and we’ll share a personalized quote.

    Can I connect with your team to discuss the report before buying?

    Yes, absolutely.
    Our team is available to help you make an informed decision. Whether you have questions about the report’s scope, methodology, customization options, or which license suits you best, we’re here to assist. Please reach out to us at sales@theinsightpartners.com, and one of our representatives will get in touch promptly.

    Will I get a billing invoice upon purchase?

    Yes, a billing invoice will be automatically generated and sent to your registered email upon successful completion of your purchase.
    If you need the invoice in a specific format or require additional details (such as company name, GST, or VAT information), feel free to contact us, and we’ll be happy to assist.

    Is there support available if I can’t access my report?

    Yes, certainly.
    If you encounter any difficulties accessing or receiving your report, our support team is ready to assist you. Simply reach out to us via email or live chat with your order information, and we’ll ensure the issue is resolved quickly so you can access your report without interruption.

    Our Clients
    • American Express
    • U.S. Bank
    • Citi
    • Wells Fargo Bank
    • Capital One Bank
    • Revolut
    • Barclays
    • Discover
    • Finastra
    • Affirm
    Sales Assistance
    US: +1-646-491-9876
    UK: +44-20-8125-4005
    Email: sales@theinsightpartners.com
    Chat with us
    DUNS Logo
    87-673-9708
    ISO Certified Logo
    ISO 9001:2015
    ISO Certified Logo