Food & Grocery Retail Market Size, Share and Segmentation by Type (Fresh Food, Frozen Food, Food Cupboard, Beverages, Cleaning & Household, Others) by Category (Packed, Unpacked), by Distribution Channel (Supermarkets & Hypermarkets, Convenience Stores, Online Stores, Others), by Regions and Global Market Forecast 2023-2030

Report Scope & Overview:

Food & Grocery Retail Market Size was valued at USD 11.71 trillion in 2022 and is expected to reach USD 15.67 trillion by 2030, and grow at a CAGR of 3.7% over the forecast period 2023-2030.

 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.

Market Dynamics:

Driving Factors:

• 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.

  Restraining Factors:

• 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.

Opportunities:

• 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.

Challenges:

• 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.

Market Estimations:

Product Type:

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.

Distribution Channel:

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:

By Type:

• Fresh Food

• Frozen Food

• Food Cupboard

• Beverages

• Cleaning & Household

• Others

By Category:

• Packed

• Unpacked

By Distribution Channel:

• Supermarkets and Hypermarkets

• Convenience Stores

• Online Stores

• Others

REGIONAL COVERAGE:

• North America

  • The USA

  • Canada

  • Mexico

• Europe

  • Germany

  • The UK

  • France

  • Italy

  • Spain

  • The Netherlands

  • Rest of Europe

• Asia-Pacific

  • Japan

  • south Korea

  • China

  • India

  • Australia

  • Rest of Asia-Pacific

• The Middle East & Africa

  • Israel

  • UAE

  • South Africa

  • Rest of Middle East & Africa

• Latin America

  • Brazil

  • Argentina

  • 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.

Key Player:

Walmart, Costco Wholesale Corporation, 7-ELEVEN Inc, Amazon.com Inc, The Kroger Co., Target Brands, Inc, ALDI, AEON Co Ltd, CA Carrefour, Schwarze Gruppe.

Frequently Asked Questions (FAQ) :