The World's Largest Consumer Markets In 2030

This makes india the go to place to establish new manufacturing for the next decades.  globally, the population itself has flatlined and growth has to come from obvious catch up economies and that certainly places india at the top.

The good news is that all populations are stabalizing their base and moving into modernity.  So this rise by india will be sustained and matched everywhere.  The bad news is that this is happening with populations either flatlining or in devcline.

We have made policy suggestions, but it is not obviously necessary yet.

These Are Expected To Be The World's Largest Consumer Markets In 2030

BY TYLER DURDEN

FRIDAY, FEB 16, 2024 - 07:40 PM

Consumers are the lifeblood of the global economy, the driving force behind market dynamics, and the ultimate arbiters of demand.

But where are the biggest congregations of consumers, and are they growing?

Visual Capitalist's Marcus Lu visualizes the 20 largest consumer markets in the world, based on 2030 projections from World Data Lab, an enterprise focused on creating estimates on global consumer spending.

In this dataset, a consumer is classified as someone who spends at least $12 per day. Sources for the data include the World Bank, UN, Eurostat, and OECD databases.

Ranked: Largest Consumer Markets in 2030

Ranked first, China is expected to have slightly more than 1 billion consumers by 2030, a 15% increase from 2024. Just across the Himalayas, at second place, India will have 773 million consumers, up from 529 million today, a staggering 46% increase.

The rise of the global middle class, thanks to expanding economies and wealth, is expected to boom in this region, in turn increasing local spending ability.

This nearly 2 billion-strong consumer market in India and China could have wide-ranging effects on the global economy. Businesses may shift their focus to cater to these markets, offering more customized products and employing different marketing strategies. This could also require businesses to realign their supply chains and build new distribution networks closer to these markets.

Rank Country Consumer Market

(2030 Projections)% Change

(from 2024)1 🇨🇳 China 1,062,294,436 +15%

2 🇮🇳 India 772,929,623 +46%

3 🇺🇸 U.S. 348,393,863 +4%

4 🇮🇩 Indonesia 158,448,996 +27%

5 🇧🇷 Brazil 135,902,978 +9%

6 🇷🇺 Russia 127,324,784 0%

7 🇯🇵 Japan 118,264,539 -3%

8 🇵🇰 Pakistan 99,263,255 +30%

9 🇲🇽 Mexico 91,698,269 +9%

10 🇧🇩 Bangladesh 87,183,060 +59%

11 🇻🇳 Vietnam 80,383,445 +34%

12 🇩🇪 Germany 80,370,656 0%

13 🇹🇷 Turkey 79,955,332 +8%

14 🇬🇧 UK 69,179,607 +3%

15 🇫🇷 France 67,980,532 +3%

16 🇪🇬 Egypt 67,710,385 +25%

17 🇵🇭 Philippines 65,545,279 +35%

18 🇹🇭 Thailand 58,237,555 +10%

19 🇮🇹 Italy 55,596,017 -1%

20 🇮🇷 Iran 55,219,774 +11%

Following current population rankings, the U.S. (348 million consumers), and Indonesia (158 million consumers) rank third and fourth respectively. Brazil, the sixth-most populated country, will have the fifth-largest consumers class by 2030, close to 136 million people.

At the same time, not all countries will see a growing consumer base. Russia and Germany are expected to stagnate, while Japan and Italy could even see a decline, a direct representation of plateauing population growth within these countries.