Food and Grocery Retail Market Analysis Report by Type (Unpackaged, Packaged, Drinks, Tobacco, Household Products), By Region (U.S., Canada, India, Netherlands), And Segment Forecasts, 2011 - 2020
The global food and grocery retail market size is expected to reach USD 12.24 trillion by 2020, according to a new report by Grand View Research, Inc., progressing at a CAGR of 6.9% during the forecast period. The global food & grocery retail industry has been growing steadily in recent years - a trend that looks set to continue over the forecast period. Growth in this industry is mainly being driven by countries in the Asia-Pacific region. Countries such as India, China, Indonesia have witnessed prominent growth due to increase in number of modern outlets. Markets in some countries, especially in Western Europe, are mature and facing saturation.
Rise in global population has a pivotal role to play in the development of the market.Improving spending power of people is augmenting the affordability of premium food and grocery products, which in turn is boosting the revenue generation of the market.
Changing lifestyles and food choices are promoting manufacturers to experiment with cultivation techniques and ingredients.
On the basis of type, the market is divided into unpackaged food, packaged food, drinks, tobacco, and household products.Unpackaged food is expected to be at the forefront of the market throughout the forecast period.
On the other hand, segments such as packaged food and drinks are anticipated to account for sizeable shares in the market during the same period.
The US food & grocery retail industry has been growing moderately in recent years. While the trends is likely to continue for the market in the U.S. over the coming years, there have been certain segments of the industry that have been enjoying significant growth.
Further key findings from the report suggest: • The global food and grocery retail market size was valued at USD 8.77 trillion in 2015 • The market in India is estimated to tread along a healthy growth track during the forecast period, thanks to rising urbanization and increasing disposable income of the populace • The Canadian food and grocery retail market was valued at USD 107.4 billion in 2015, and will register a CAGR of 3.0% from 2011 to 2015 • Some of the prominent companies operating in the market are Bharti Enterprises; Carrefour S.A.; Costco Wholesale Corporation; Future Retail Limited; Koninklijke Ahold; The Kroger Co; and Wal-Mart Stores, Inc.
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