World population set to cross 8-billion mark

The number of human beings inhabiting the earth is set to cross the 8-billion mark today, November 15, 2022. The population growth has been led by Asian countries, especially India and China, in recent years. However, China’s population growth is set to decelerate, while India’s numbers will continue to grow, taking it to the top of the list in less than one year’s time.

The global population hit the one billion mark in 1804. It took another 126 years to hit the second billion in 1930, and another 30 years to hit the third. The fourth billion just took 14 years, while the fifth billion was even faster at 13 years.

In less than 100 years since 1930, the world population has grown four times and will cross 8 billion in a few hours. The annual population growth rate was the highest between 1963 and 1972, at over 2 per cent. The growth rate has declined since then, and has fallen below 1 per cent since 2021.

It is further projected to decline till 2050, according to World Bank data. In 2022 China and India account for over a third of the world’s population, with China‘s share at 18.2 per cent and India’s at 17.7 per cent. The US and Indonesia follow with 4.2 per cent and 3.5 per cent share of the global population.

This is expected to change by 2050, with India having the world’s highest population share at 16.8 per cent, while China’s population share would have declined by over 4.2 per cent.

India’s fast growing population will see it surpass China as the most populated country in the world in 2023. India is projected to add over 2.3 billion people by 2050, while China’s population is projected to shrink from 2030 onwards.

The population of the US, Indonesia and Pakistan is also expected to grow with the addition of 41 million, 51 million and 108 million people, respectively, by 2050. While Asia has the largest share of the world’s population, Africa is home to the youngest population with a median age of just 20, and Europe the oldest population with a median age of around 43.