Report Scope & Overview:
Food & Grocery Retail Market Size was valued at USD 11.3 trillion in 2021 and is expected to reach USD 14.5 trillion by 2028, and grow at a CAGR of 3.7% over the forecast period 2022-2028.
Individuals regularly eat an assortment of food and staple things for their day-to-day living necessities. Such things are of various classifications like new food, frozen food sources, beauty care products, individual consideration and home consideration items, refreshments, and others. Execution of a satisfactory cost item blend by the food and staple retailers assists them with accomplishing the incomes from such things.
These days, organizations related with food and staple retailing center around dealing with their inventories to create required incomes from such items. Also, they carry out different insightful measures to follow the shopper's conduct towards purchasing such things from their shops.
These days, retail organizations are directing various types of classes, rebate pop-ups and occasions connected with the staple things in their retail outlets. Developing patterns of eating dietary and frozen food things among the worldwide populace are further liable to drive such items' incomes.
In emerging countries, rising middle-income consumer demand has increased demand for quality consumables and grocery retail.
Some of the primary drivers of the food retail business are expanding customer demand for private label goods, rising consumer expenditure on food products, and a growing supermarket shopping culture.
Most supermarkets now provide home delivery, which has become a popular option for time-crunched customers.
The sector is experiencing issues such as inadequate supply chains and the danger of unorganized companies.
The market's main restraints are a lack of supply chain effectiveness and the danger of unregulated food sellers.
The quality of life is steadily improving as a result of increased urbanization and industrialization, prompting people to seek high-quality food items. And, because groceries are essential items for the general public, the worldwide food and grocery retail business is booming.
Consumers' lifestyles are changing, and they desire more convenient, aesthetically appealing, and high-quality meals.
Certain variables, like as unemployment and inflation, have kept the influence of increased consumer spending on the medium in the near term.
Impact of COVID-19:
Customers hurried to stock up on goods at supermarkets and online during the initial wave of the epidemic, while restaurants, companies, and schools were mainly shuttered in most countries. To fulfill customer demand, food stores were obliged to restructure their supply chains, investigate private-label items, and extend their supplier networks as a result of market instability induced by the COVID-19 epidemic. The key drivers driving market expansion include shifting consumption spending from food service to food retail owing to COVID-19 pandemic-induced lockdowns, increased usage of online channels for grocery purchases, and consumer polarization brought on by income shifts.
This resulted in unanticipated variations in grocery sales, as bare store shelves revealed shifting consumer preferences in real-time. Sales of nostalgic and hedonistic goods like confectionery, sweets, and salty snacks increased during the recessionary pantry-stocking period.
The fine food sector has placed a greater emphasis on nutrition and provenance, but demand for high-quality, long-lasting food pantry items is projected to rise as more people buy locally and less frequently. The beverages category, on the other hand, is expected to increase at the quickest rate throughout the projection period. Due to the closure of restaurants, bars, pubs, and cafés during the pandemic, off-trade purchases of beer, wine, and non-alcoholic beverages increased dramatically. As new trends compel producers to find new strategies to enhance sales, the beverage industry has experienced major changes. The beverage industry, like others, has seen a surge in health and wellness goods recently. While traditional beverage sales are declining, alternative items such as natural and organic drinks are growing in popularity.
The key reason for its significant market share is a large number of supermarkets and hypermarkets throughout the world. One of the primary motivators for people to frequent their local supermarkets and hypermarkets is the convenience of having a wide variety of food and beverage goods in one location. Furthermore, store owners are coming up with creative marketing and promotional activities to guarantee that consumers' in-store purchase habits are maintained.
Key Market Segmentation:
Cleaning & Household
By Distribution Channel:
Supermarkets and Hypermarkets
Rest of Europe
Rest of Asia-Pacific
The Middle East & Africa
Rest of Middle East & Africa
Rest of Latin America
Urbanization and growing disposable incomes on the demand side, Foreign Direct Investment (FDI), format diversification, local investments, and modernization of procurement procedures to lower costs on the supply side have all contributed to the growth of supermarkets in Asia Pacific. The expansion of online food purchases has been encouraged by increases in mobile usage and broadband penetration, particularly in developing nations.
In terms of online commerce adoption, Asia Pacific consistently beats the worldwide average. The most common flexible retailing option in the area is online ordering for home delivery, with China being the leading adoption of online food and grocery shopping. In this region, retailers are using technology to improve both the consumer experience and supply chain management.
Many Asian businesses are leading the way in food safety because to developments in blockchain technology.
Walmart, Costco Wholesale Corporation, 7-ELEVEN Inc, Amazon.com Inc, The Kroger Co., Target Brands, Inc, ALDI, AEON Co Ltd, CA Carrefour, Schwarze Gruppe.
|Market Size in 2021||US$ 11.3 Trillion|
|Market Size by 2028||US$ 14.5 Trillion|
|CAGR||CAGR 3.7% From 2022 to 2028|
|Report Scope & Coverage||Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook|
|Key Segments||• by Product (Food Cupboard, Beverages)
• by Distribution Channel (Supermarkets & Hypermarkets, Online)
|Regional Analysis/Coverage||North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, +D11UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
|Company Profiles||Walmart, Costco Wholesale Corporation, 7-ELEVEN Inc, Amazon.com Inc, The Kroger Co., Target Brands, Inc, ALDI, AEON Co Ltd, CA Carrefour, Schwarze Gruppe.|
|Key Drivers||•Most supermarkets now provide home delivery, which has become a popular option for time-crunched customers.|
|Market Opportunities||•Consumers' lifestyles are changing, and they desire more convenient, aesthetically appealing, and high-quality meals.|
Frequently Asked Questions (FAQ) :
Table of Contents:
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 Covid 19 Impact Analysis
4.2 Impact of the Ukraine and Russia war
5. Value chain analysis
6. Porter’s 5 forces model
7. PEST analysis
8. Global Food and Grain Retail market segmentation, By Type:
8.1 Fresh Food
8.2 Frozen Food
8.3 Food Cupboard
8.5 Cleaning & Household
9. Global Food and Grain Retail market segmentation, by Category:
10. Global Food and Grain Retail market segmentation, by Distribution channel:
10.1 Supermarkets and Hypermarkets
10.2 Convenience Stores
10.3 Online Stores
11. Global Food and Grain Retail market, by region/ country
11.2 North America
11.5 South America
11.6 Middle East & Africa
11.6.1 South Africa
12. Company profiles
12.2 Costco Wholesale Corporation
12.3 7-ELEVEN Inc
12.4 Amazon.com Inc
12.5 The Kroger Co.
12.6 Target Brands Inc
12.8 AEON Co Ltd
12.9 CA Carrefour
12.10 Schwarze Gruppe
13. Competitive Landscape
13.1 Competitive Bench Marking
13.2 Market Share Analysis
13.3 Recent Developments
An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.
Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.
The 5 steps process:
Step 1: Secondary Research:
Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.
Step 2: Primary Research
When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data. This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.
We at SNS Insider have divided Primary Research into 2 parts.
Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.
This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.
Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.
Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.
Step 3: Data Bank Validation
Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.
Step 4: QA/QC Process
After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.
Step 5: Final QC/QA Process:
This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.