Supermarkets And Hypermarkets Global Market To Reach Value Of Almost $3.3 Trillion In 2025
15 Jan, 2021
The supermarkets and hypermarkets market consists of sales all sorts of goods and some services by entities (organizations, sole traders and partnerships) that are engaged in retailing, fresh, frozen and canned foods and dry goods by, including such as tea, coffee, spices, sugar, and flour; fresh fruits and vegetables; and fresh and prepared meats, fish, and poultry to ultimate users. They also have nonfood items in their portfolio.
Global Supermarkets And Hypermarkets Market Size And Drivers:
The global supermarkets and hypermarkets market is expected to grow from $2498.09 billion in 2020 to $2632.72 billion in 2021 at a compound annual growth rate (CAGR) of 5.4%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $3289.6 billion in 2025 at a CAGR of 6%. The rapid growth in retail data and the availability of technologies to analyze data it will become easier for supermarkets and hypermarkets to identify and meet the needs and expectations of their customers; thus, it is expected to drive the market going forward.
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Trends In The Global Supermarkets And Hypermarkets Market
Supermarkets and hypermarkets are increasingly using blockchain technology to track product details such as source, manufacturing location, transportation modes. Blockchain 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 food production methods to understand the entire food supply chain. Blockchain technology enables the users to access labelling information on smartphones giving the user in-depth tracking of data that ensures food quality.
Global Supermarkets And Hypermarkets Market Segments:
The global supermarkets and hypermarkets market is further segmented based on type, ownership and geography.
By Type: Supermarkets, Hypermarkets
By Ownership: Retail Chain, Independent Retailer
By Geography: The global supermarkets and hypermarkets market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North American was the largest region in the global supermarkets and hypermarkets market, accounting for 30% of the total market.
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Supermarkets And Hypermarkets Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides supermarkets and hypermarkets market overviews, analyzes and forecasts market size and growth for the global supermarkets and hypermarkets market, supermarkets and hypermarkets market share, supermarkets and hypermarkets market players, supermarkets and hypermarkets market segments and geographies, supermarkets and hypermarkets market’s leading competitors’ revenues, profiles and market shares. The supermarkets and hypermarkets market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.