Grocery Retail Market Size, Share,Growth Industry, Forecast and outlook (2024-2031)

Retail grocery includes stores such as Mom-and-Pop stores, supermarkets, hypermarkets, specialty fruit and vegetable stores, and online grocery platforms. Supermarkets and hypermarkets generally stock substantial amounts of non-food products, such as clothing and household items, which also attracts many consumers to spend time within the store.

Small grocery stores mainly focused on selling fruits and vegetables are known as greengrocers. Some groceries focus on the foods of certain countries or regions such as Chinese, Italian, Middle Eastern, or Polish, and are mainly found in big cities of a country. These stores in the USA are called ethnic markets and may also act as gathering places for immigrants.

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Market Dynamics

Various consumer-oriented features of grocery retail stores such as fair price, quality, and variety of products as well as convenience are driving the attractiveness of grocery retail among consumers, which drives the growth of the global grocery retail market. According to a survey conducted by the National Retail of consumers reported that they had used curbside pickup for groceries in the past year, up from Additionally, the same survey found that 23% of consumers had used home delivery services for groceries.

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Segment Analysis

The supermarket and hypermarket segment is expected to hold the largest market share in the grocery retail market due to several factors, including their established presence, wide product range, and ability to offer competitive prices. One indicator of the importance of supermarkets and hypermarkets in the grocery retail market is their revenue. According to Statista, in 2022, global revenue from supermarkets and hypermarkets This represents a significant portion of the total grocery retail market, indicating the dominance of this segment.

Competitive Landscape

The major global players include the Grocery Retail market are Walmart Inc., Carrefour Group, Koninklijke Ahold N.V., Metro AG, Kroger Co., Tesco Plc., Rewe, Costco Wholesale Corporation, Aldi Stores Limited, and ITM enterprises.

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