The supermarkets and hypermarkets market is set for substantial growth, expected to rise from $3,418.55 billion in 2023 to $3,694.61 billion in 2024, with a CAGR of 8.1%. This growth is linked to urbanization, rising disposable income, and improved supply chain efficiency. By 2028, the market is forecasted to reach $4,987.3 billion, growing at a CAGR of 7.8%, driven by e-commerce integration and innovative store formats.
Major Driver In The Supermarkets And Hypermarkets Market
Supermarkets and hypermarkets are embracing a robust data analytics strategy for effective management, aiming to enhance supply chain efficiency and customer engagement while fostering loyalty. The deployment of data analytics technology in retail operations has become critical, facilitating the identification and fulfillment of customer needs and expectations. As retail data continues to grow rapidly, coupled with advancements in data analytics technology, supermarkets and hypermarkets are better positioned to drive market growth by understanding and meeting the demands of their customers. This trend is expected to shape the market's future, with market sizes for 2023, 2024, and 2028 influencing its trajectory.
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Supermarkets And Hypermarkets Market Competitive Landscape
Walmart Inc., Costco Wholesale Corporation, Schwarz Unternehmenstreuhand KG, The Kroger Co., Aldi, Target Corporation, Rewe Group, Koninklijke Ahold Delhaize N.V, Carrefour SA, Tesco plc, Albertsons Companies Inc., Edeka Group, Aeon Co. Ltd., Shoprite Holdings Limited, Woolworths Group Limited, J Sainsbury plc, Casino Group, X5 Retail Group N.V., Migros Genossenschafts-Bund, Metro AG, Système U, Coles Group Limited, Seven & I Holdings Co. Ltd., Colruyt Group, Lotte Corp., SPAR International, Fonciere Euris SA, Lidl Stiftung & Co. KG, Auchan Retail S.A., Kroger Asia Pacific, Jerónimo Martins SGPS SA, Kesko Corporation, Shufersal Ltd., Magnit LLC, PT. Hero Supermarket Tbk, ICA Gruppen AB, The Home Depot Inc., Giant Eagle Inc., Meijer Inc., Delhaize Group
Key Supermarkets And Hypermarkets Market Trend
Supermarkets and hypermarkets are increasingly using block chain technology to track product details such as source, manufacturing location, transportation modes. Block chain technology can be described as a data structure that holds transactional records and ensures security, transparency, and decentralization. Due to rising awareness about healthy eating, shoppers are actively looking for the origin and methods of food production to understand the entire food supply chain. Food quality. Block chain technology enables users to access labeling information on smartphones, giving the user in-depth tracking of data that ensures food quality. For instance, in March 2022, Zipmex, a Southeast Asia-based digital asset platform launched a block chain powered supermarket in collaboration with Thailand’s Central Retail Corporation.
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Supermarkets And Hypermarkets Market Segmentation
The supermarkets and hypermarkets market covered in this report is segmented –
1) By Type: Supermarkets, Hypermarkets
2) By Ownership: Retail Chain, Independent Retailer
3) By Application: Consumer Electronics, Furniture, Food and Beverage, Toy And Stationery, Personal Care, Cosmetic, Home Textile, Dress, Other Applications
By Geography:The regions covered in the supermarkets and hypermarkets market report are Australia; China; India; Indonesia; Japan; South Korea; Bangladesh; Thailand; Vietnam; Malaysia; Singapore; Philippines; Hong Kong; New Zealand; USA; Canada; Mexico; Brazil; Chile; Argentina; Colombia; Peru; France; Germany; UK; Austria; Belgium; Denmark; Finland; Ireland; Italy; Netherlands; Norway; Portugal; Spain; Sweden; Switzerland; Russia; Czech Republic; Poland; Romania; Ukraine; Saudi Arabia; Israel; Iran; Turkey; UAE; Egypt; Nigeria; South Africa.
North America was the largest region in the supermarkets and hypermarkets market in 2023.
The Supermarkets And Hypermarkets Global Market Report 2024 furnishes information about the global supermarkets and hypermarkets market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
