What Has Been the Growth of the Food And Grocery Retail Market So Far?
The food and grocery retail market has seen considerable growth due to a variety of factors.
• The size of the food and grocery retail market has been consistently increasing in the past few years. It is expected to expand from $12299.74 billion in 2024 to $12772.82 billion in 2025, showing a compound annual growth rate (CAGR) of 3.8%.
Factors such as global trade growth, compliance with regulations, risk management strategies, variations in cargo volume, and the advent of specialized cargo contributed to this growth during the historical period.
How Will the Food And Grocery Retail Market?
The food and grocery retail market is expected to maintain its strong growth trajectory in upcoming years.
• The value of the food and grocery retail market is predicted to demonstrate continual expansion in the approaching years. It is anticipated to reach $14586.54 billion in 2029 with a compound annual growth rate (CAGR) of 3.4%.
Factors contributing to the growth in this prediction period include natural catastrophes and sea-related incidents, worldwide economic patterns, climate alterations and environmental hazards, strict changes in regulations, and changing dynamics of the supply chain. The significant trends forecasted for this period involve digital transformation and data analytics, cooperation and partnerships, security challenges and cyber threats, and technology advancements in shipping.
Which Factors Are Boosting Growth In The Food And Grocery Retail Market?
The expected surge in the e-commerce sector is predicted to fuel the expansion of the food and grocery retail market. When we talk about e-commerce within food and grocery retail, we refer to the online purchase and sale of food and grocery items. This includes transactions between two parties, generally a business and consumer, with payments and product deliveries conducted over the internet. Businesses employ e-commerce to connect with a larger audience and increase their customer pool, leading to enhanced revenue and growth in the food and grocery retail domain. As an example, November 2023 data from Census.gov revealed that e-commerce sales in the US for the third quarter of that year reached $271.7 billion, marking a 0.9 percent (±0.4%) rise from the second quarter of 2023. Hence, the increasing presence of the e-commerce sector is driving the growth of the food and grocery retail market.
What Key Areas Define The Segmentation Of The Global Food And Grocery Retail Market?
The food and grocery retail market covered in this report is segmented –
1) By Product: Fresh Food, Frozen Food, Food Cupboard, Beverages, Cleaning And Household
2) By Category: Packed, Unpacked
3) By Distribution channel: Super markets And Hyper markets, Convenience Stores, Departmental Stores And Clubs
Subsegments:
1) By Fresh Food: Fruits And Vegetables, Meat And Poultry, Dairy Products, Bakery Items
2) By Frozen Food: Frozen Meals, Frozen Fruits And Vegetables, Ice Cream And Desserts, Frozen Snacks
3) By Food Cupboard: Canned Goods, Dry Goods, Snacks And Confectionery, Spices And Condiments
4) By Beverages: Soft Drinks, Alcoholic Beverages, Juices, Water And Sports Drinks
5) By Cleaning And Household: Laundry Detergents, Kitchen Cleaners, Paper Products, Personal Care Products
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What Emerging Trends Are Influencing The Growth Of The Food And Grocery Retail Market?
Big players in the food and grocery retail market are creating advanced technologies like a 30-minute delivery service in a bid to provide ultra-quick or on-the-spot delivery services in the retail sector, serving fast and handy shopping experiences for customers. The 30-minute delivery service, which is essentially a tech-based solution, allows customers to get their groceries and other convenience goods within a period of 30 minutes. For instance, 'Fairway Now,' a 30-minute delivery venture was launched by Instacart of Maplebear Inc., a retail company based in the US, in December 2023. This service facilitates doorstep delivery of groceries and essential items in just 30 minutes, catering to last-minute shopping needs and letting customers quickly access a vast variety of items.
Who Are the Key Players In The Food And Grocery Retail Market?
Major companies operating in the food and grocery retail market report are:
• Wal-Mart Stores Inc.
• Costco Wholesale Corporation
• The Kroger Co.
• Target Brands Inc.
• 7-ELEVEN Inc.
• Carrefour S.A.
• REWE Group
• Lidl Stiftung & Co. KG
• Tesco PLC
• Edeka Zentrale AG & Co. KG
• Aeon Co. Ltd.
• Publix Super Markets Inc.
• Woolworths Group
• J Sainsbury PLC
• Les Mousquetaires
• Auchan Retail
• Aldi Einkauf GmbH & Co. oHG
• Mercadona S.A.
• ASDA Stores Limited
• Coles Group Limited
• Système U
• Wm Morrison Supermarkets Limited
• HEB Grocery Company LP
• Meijer Inc.
• Wakefern Food Corporation
• Kaufland Stiftung & Co. KG
• Fred Meyer Stores Inc.
• Spar International
• Safeway Inc.
• Leclerc SA
What Is The Most Dominant Region In The Food And Grocery Retail Market?
North America was the largest region in the food and grocery retail market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the food and grocery retail market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
