According to the 2030 projections from World Data Lab, China and India are expected to be the world’s largest consumer markets in 2030.
The world economy depends on consumers, who also determine market dynamics and serve as the last arbiters of demand.
However, where are the largest consumer gatherings located, and are they expanding?
India’s investment in Russian hydrocarbons is a win-win situation, providing India with energy security and giving Russia a stable market, promoting technology transfer.
Marcus Lu of Visual Capitalist uses 2030 projections from World Data Lab, a company that specializes in estimating worldwide consumer spending, to create a visual representation of the world’s 20 biggest consumer markets.
Ranked: Largest Consumer Markets in 2030
China is predicted to be the top-ranked country with slightly over 1 billion customers by 2030, representing a 15% rise from 2024. Second-place India, located just across the Himalayas, is expected to have 773 million consumers, up from 529 million as of right now—a startling 46% growth.
It is anticipated that this region will see a boom in the middle class due to growing economies and income, which will increase local spending power.
The consumer market in China and India, which is home to roughly 2 billion people, could have a significant impact on the world economy. Companies may refocus to serve certain segments, using different marketing techniques and providing more specialized products. Businesses may also need to reorganize their supply chains and create new distribution networks in closer proximity to these markets as a result.
| 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% |
The United States (348 million customers) and Indonesia (158 million consumers) are in third and fourth place, respectively, based on current population rankings. By 2030, Brazil, the sixth most populous nation, will have about 136 million individuals in the fifth-largest consumer class.
However, not every nation will witness a rise in its consumer base. It is anticipated that Russia and Germany will remain stagnant and that Japan and Italy may even see a fall. This indicates that the population growth in these countries has reached a plateau.