Major economies are often ranked in accordance to their GDP output. While such a ranking has its use, a more valuable metric is the consumer market size. Such a metric is becoming increasingly important in the competitive world. This because consumer markets are the main drivers of international dynamics and trade. Indeed, sizes of consumer markets are key to investment policies and export success. Successful export undertakings depend on good knowledge of leading global markets and their trends.
The following list provides the ranking of the Top Ten economies by Consumer Market Size in 2030:
At the 10th position, Brazil will represent a consumer market of 1.35 trillion USD in 2030. Brazil is an emerging market with vast natural resources such as gold and iron. It has a huge population and a growing middle class who are keen purchasers of goods and services.
At the 9th position, Italy will constitute a consumer market of 1.4 trillion USD in 2030. Italy is one of the world’s largest possessor of gold reserve, wealth and exporter of goods. It is the third largest economy of Eurozone. Although, it is a net exporter of goods it is also a large importer of goods.
Next on the list is France at number 8, with a potential consumer market of 1.7 trillion USD in 2030. French consumers, with a relatively high buying power, will purchase everything from entertainment and culture to innovative and quality products.
At number 7th on the list, Indonesia is an emerging market with a promising future. It has a huge population and its number of middle-class and affluent consumers will continue to grow for the upcoming decades. In 2030, Indonesia will constitute a consumer market size 1.73 trillion USD.
At the 6th position, United Kingdom will continue to remain an important consumer market despite all the uncertainty around Brexit. UK consumers are big spenders. They enjoy quality and superior design. Consumption represent more than two third of the UK economy. In 2030, the United Kingdom will constitute a consumer market size 2.21 trillion USD.
Next on the list is Germany at number 4. This country has a huge GDP output and an affluent population with high income per capita. In 2030, Germany will constitute a consumer market size 2.9 trillion USD.
Next on the list is Japan at the 5th position. Japan has been a relatively large consumer market for the past few decades and will continue to be so during the upcoming decades. It has large affluent middle class which will constitute a market size of 3.2 trillion USD in 2030.
The 3th position is occupied by India, which will represent a consumer market of 4.05 trillion USD in 2030. Currently, the Indian consumer market is already attracting attention from global players. It is the largest importer of weapons. It has a growing middle class that will constitute hundreds of millions of potential customers at the end of the next decade. Notably, the size of the Indian consumer market will continue to grow at phenomenal pace for the upcoming decades, potentially surpassing the Eurozone market.
It is difficult to rank the EU on the list, because foreign countries do not trade with the EU as a whole, but they normally trade with individual countries of the Eurozone separately, under EU terms and conditions. Nonetheless, the size of the Eurozone market is worth a mention. This simply because of the sheer size of the Eurozone. The EU is home to the most affluent population on the planet and it will continue to dominate the global market in the decades to come. In 2030, The Eurozone will constitute a consumer market size 10.8 trillion USD.
At number 2, China will represent a staggering consumer market size of 12.3 trillion USD in 2030. Although, it is very likely to remain the exporter of goods, it will also have a vast consumption-based economy. By the end of the next decade its population will relatively affluent consumer base.
In 1st position, the USA will constinue to remain the largest consumer market with a size of 18.6 trillion USD. Americans are big spenders and consumers. Their economy is largely driven by consumption.
Top Ten Economies by Consumer Market Sizes in 2030
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Useful Resources
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