emerging market

noun2

1. •
   [before a noun] A relatively less-developed country or other trading region undergoing significant growth in production, consumption, or foreign investment.

   • And while Brazil's Telebras and South Africa's Anglo American Corp. again rank among the world's top emerging-market groups, their market capitalizations are also down from last year. — 1998
2. •
   New and increasing demand or consumer purchasing activity (for a product or service).

   • [H]is members saw an emerging market for even more luxurious dwellings among those "who would rather pay for amenities instead of space." — 1987