Vietnam is forecast to become the world’s eleventh-largest consumer market by 2030, according to a report from World Data Lab.

The country is expected to have 80 million consumers by 2030, up 34 per cent compared to 2024.

China is forecast to top the list, with an estimated 1 billion or more consumers by that time, followed by India with 773 million.

HSBC Vietnam forecast last year that Vietnam would become the world’s tenth-largest consumer market by 2030.

Home to a population of 100 million people, Vietnam is expected to be among Asia’s top 5 countries posting the fastest growth in their consumer market, with the population earning more than $20 a day in constant purchasing power parity (PPP) terms in the current 2021-2030 decade, according to the bank.