China & India Will Combine for Nearly 2B Consumers by 2030

What we’re showing

The 20 largest consumer markets in the world, based on 2030 projections from World Data Lab. A consumer is classified as someone who spends at least $12 per day.

Key takeaways

• India will have 773M consumers by 2030, up from 529M today (+46% growth!)
• Russia and Germany are expected to stagnate, while Japan and Italy could even see a decline.

Context

The growth of China and India’s consumer class will have wide-ranging effects on the global economy. For example, 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.