Global Super Markets Market Size 2024, Forecast To 2033

6 Mar, 2024

The supermarkets market has experienced strong growth, rising from $1634.55 billion in 2023 to $1769.68 billion in 2024, demonstrating a notable compound annual growth rate (CAGR) of 8.3%. The growth observed in the historical period is linked to changing consumer lifestyles, urbanization, and population density, increased disposable income, a heightened focus on convenience, and the expansion of private label products. Moving into the future, the supermarkets market is poised for continued strong growth, anticipating a market size of $2405.78 billion in 2028, with a CAGR of 8.0%. Contributing factors in the forecast period encompass the integration of e-commerce and omnichannel retailing, health and wellness trends, sustainability, and ethical consumerism, the demand for local and organic produce, and an adaptation to changing demographics. Major trends include the introduction of smart shelving and inventory management, personalized marketing and loyalty programs, an enhanced focus on fresh and local produce, the incorporation of contactless and cashless payment options, and the introduction of automated and robotic solutions.

Global Supermarkets Market Key Driver

The expected increase in consumer preference for healthy eating habits is poised to drive the growth of the supermarkets market. Healthy eating, characterized by a balanced diet with diverse wholesome foods, has gained popularity due to its numerous health benefits. Supermarkets play a pivotal role in catering to this consumer preference by offering a variety of healthy food options, including fresh fruits and vegetables, lean proteins, whole grains, and organic, non-GMO, and sustainably sourced products. According to the World Economic Forum in March 2023, 50% of Americans claimed to have started trying to eat healthier. Additionally, the 2022 Food and Health Survey by the International Food Information Council in May 2022 reported a significant rise in Americans following a diet or healthy eating habit, reaching 52%, up from 39% in 2021. The rising consumer preference for healthy eating is a driving force behind the growth of the supermarkets market, indicating positive trends in 2023, 2024, and 2028.

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Global Supermarkets Market Segments

The supermarkets market covered in this report is segmented –
1) By Type: Packaged Foods, Fresh Foods
2) By Ownership: Retail Chain, Independent Retailer
3) By Application: Personal Shoppers, Business Customers
By Geography:The regions covered in the supermarkets market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain North America was the largest region in the supermarkets market in 2023. The regions covered in the supermarkets market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

Major Supermarkets Industry Players

Tesco plc, Carrefour Group, J Sainsbury plc, REWE Group, The Kroger Company, ALDI Nord Group, Albertsons Companies Inc., Target Corporation, Costco Wholesale Corporation, ICA Supermarket, Real Canadian Superstore, ParknShop Limited, Wm Morrison Supermarkets Limited, Woolworths Group Limited, Asda Stores Ltd., Walmart Inc., Kroger Co., Ahold Delhaize USA Inc., Publix Super Markets Inc., The Home Depot Inc., Lowe's Companies Inc., Walgreens Boots Alliance Inc., CVS Health Corporation, Safeway Inc., H-E-B Grocery Company LP, Meijer Inc., Giant Food Stores LLC, Hy-Vee Inc., Wegmans Food Markets Inc., The Schwarz Group

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Supermarkets Market Overview

A supermarket can be defined as a large self-service retail store that has an area under 20,000 square feet and offers a diverse range of food and non-food products organized into various sections for customers to purchase. It is designed to provide a convenient and efficient shopping experience, with different passages and areas to showcase and store products.

Supermarkets Global Market Report 2023 provides data on the global supermarkets market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The supermarkets market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.