Published by maria gbaf
Posted on November 9, 2021
4 min readLast updated: January 28, 2026
The consumer credit market is projected to grow at a 5% CAGR from 2021-2026, driven by BFSI industry expansion and increased MSME investments.
According to the latest report by IMARC Group the global consumer credit market exhibited moderate growth during 2015-2020. Looking forward, the market is expected to grow at a CAGR of around 5% during 2021-2026,
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Consumer credit stands for the personal loan granted to individuals for short- and intermediate-term to finance personal expenses. A finance fee is charged against a credit or an extension of existing credit presented in the form of a cash loan or sales credit. They can be non-revolving loans that are to be repaid in a fixed number of payments or revolving loans that include automobile, consumer goods, home repair, and personal loans.
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Market Trends
Substantial growth in the banking, financial services, and insurance (BFSI) industry, along with the rapid economic development of micro-enterprises, are spurring the demand for consumer credit. Rising investments in micro, small, and medium enterprises (MSMEs) by banks and other financial institutions are further propelling the market growth. Moreover, the widespread adoption of credit data by consumer banking professionals to obtain cash flows and analytics related information at the portfolio level also contributes to the market growth. It helps in managing personal credit cases, real-time pricing, and capital management of multi-asset portfolios. The rising demand for consumer credit to mitigate firm-wide risks through consistency, automation, and transparency is also driving the market growth. Several social media platforms are launched by consumer credit agencies for introducing media campaigns and innovative products, thereby expanding their consumer base.
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The report has segmented the market on the basis of credit type, consumer type, service type, issuer, payment method and geography.
Breakup by Credit Type:
Breakup by Consumer Type:
Breakup by Service Type:
Breakup by Issuer:
Breakup by Payment Method:
Breakup by Geography:
Key highlights of the report:
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
Competitive Landscape:
The report has also analysed the competitive landscape of the market with some of the key players being Bank of America, Barclays, BNP Paribas, China Construction Bank, Citigroup, Deutsche Bank, HSBC, Industrial and Commercial Bank of China (ICBC), JPMorgan Chase, Mitsubishi UFJ Financial, Wells Fargo, etc.
Other Report by IMARC Group:
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The article focuses on the consumer credit market's growth trends and forecasts from 2021 to 2026.
How is the BFSI industry influencing the consumer credit market?
What role does credit data play in the market's growth?
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