Global Food And Beverage Stores Market Trends And Strategies Of Major Players In The Food And Beverage Stores Market 2021-2030
15 Feb, 2021
The food and beverage stores market consists of sales of food and beverages and related services by entities (organizations, sole traders and partnerships) that retail food and beverages merchandise, from fixed point-of-sale locations. This industry includes grocery stores, specialty food stores, convenience stores and beer, wine and liquor stores.
Global Food And Beverage Stores Market Size And Drivers:
The global food and beverage stores market is expected to grow from $1.70 trillion in 2020 to $1.87 trillion in 2021 at a compound annual growth rate (CAGR) of 9.7%. The market is expected to reach $2.47 trillion in 2025 at a CAGR of 7%. The food and beverage store market is expected to benefit from steady economic growth forecasted for many developed and developing countries.
Request For A Sample For The Global Food And Beverage Stores Market Report:
Trends In The Global Food And Beverage Stores Market
Self-checkout technology is being widely used in department stores, specialty stores, and small convenience stores to automate payments. Self-checkout systems are integrated with a mobile software application to collect purchase data and to automatically receive payment. They make use of Near Field Communication (NFC) or quick response code (QR code), which is a machine-readable optical label. This eliminates the need for checkouts, queues, loading and unloading and employees to operate the checkout counter. This type of automation reduces operational costs and saves the time spent on manual billing. Self-checkout systems are being used extensively by retail stores in the USA and the UK.
Global Food And Beverage Stores Market Segments:
The global food and beverage stores market is further segmented based on type, ownership and geography.
By Type: Specialty Food Stores, Beer, Wine & Liquor Stores.
By Ownership: Retail Chain, Independent Retailer.
By Geography: The global food and beverage stores market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
Among these regions, Asia Pacific is the largest region in the global food and beverage stores market, accounting for 63% of the total market.
Read More On The Report For The Global Food And Beverage Stores Market At:
Food And Beverage Stores Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides food and beverage stores market overviews, analyzes and forecasts market size and growth for the global food and beverage stores market, food and beverage stores market share, food and beverage stores market players, food and beverage stores market segments and geographies, food and beverage stores market’s leading competitors’ revenues, profiles and market shares. The food and beverage stores market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.