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Food And Grocery Retail Market Report 2024: Strategies And Recent Developments | Wal-Mart Stores Inc., Costco Wholesale Corporation, The Kroger Co., Target Brands Inc., 7-ELEVEN Inc
Food And Grocery Retail Market Characteristics
The Business Research Company offers in-depth market insights through Food And Grocery Retail Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The food and grocery retail market size has grown steadily in recent years. It will grow from $11727.37 billion in 2023 to $12299.74 billion in 2024 at a compound annual growth rate (CAGR) of 4.9%. The growth in the historic period can be attributed to global trade expansion, regulatory compliance, risk management practices, cargo volume fluctuations, emergence of specialized cargo.
The food and grocery retail market size is expected to see steady growth in the next few years. It will grow to $14131.77 billion in 2028 at a compound annual growth rate (CAGR) of 3.5%. The growth in the forecast period can be attributed to natural disasters and incidents at sea, global economic trends, climate change and environmental risks, stringent regulatory changes, evolving supply chain dynamics. Major trends in the forecast period include digitalization and data analytics, collaboration and partnerships, security concerns and cyber risks, technological advancements in shipping, technological advances in shipping.
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Market Segmentation:
The food and grocery retail market covered in this report is segmented -
1) By Product: Fresh Food, Frozen Food, Food Cupboard, Beverages, Cleaning And Household
2) By Category: Packed, Unpacked
3) By Distribution channel: Supermarkets And Hypermarkets, Convenience Stores, Departmental Stores And Clubs
Major Driver - E-Commerce Surge Fuels Growth In The Food And Grocery Retail Market
The increasing e-commerce sector is expected to propel the growth of the food and grocery retail market going forward. E-commerce in food and grocery retail refers to the buying and selling of food and grocery products online. It involves a transaction between two parties, usually a business and a consumer, where the payment and delivery of products are conducted online. E-commerce is used by businesses to reach a wider audience and expand their customer base, leading to increased revenue and growth in the food and grocery retail business. For instance, in November 2023, according to Census.gov, US-based e-commerce sales for the third quarter of 2023 totaled $271.7 billion, an increase of 0.9 percent (±0.4%) from the second quarter of 2023. Therefore, the rise in the e-commerce sector is driving the growth of the food and grocery retail market.
Competitive Landscape:
Major companies operating in the food and grocery retail market report are Wal-Mart Stores Inc., Costco Wholesale Corporation, The Kroger Co., Target Brands Inc., 7-ELEVEN Inc., Carrefour S.A., REWE Group, Lidl Stiftung & Co. KG, Tesco PLC, Edeka Zentrale AG & Co. KG, Aeon Co. Ltd., Publix Super Markets Inc., Woolworths Group, J Sainsbury plc, Les Mousquetaires, Auchan Retail, Aldi Einkauf GmbH & Co. oHG, Mercadona S.A., ASDA Stores Limited, Coles Group Limited, Système U, Wm Morrison Supermarkets Limited, HEB Grocery Company LP, Meijer Inc., Wakefern Food Corporation, Kaufland Stiftung & Co. KG, Fred Meyer Stores Inc., Spar International, Safeway Inc., Leclerc SA
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Top Trend - Technological Rise Of 30-Minute Delivery Services To Meet Consumer Demand
Major companies operating in the food and grocery retail market are developing innovative technologies, such as 30-minute delivery service, to enable ultra-fast or on-demand delivery options in the retail industry and to meet the needs of customers who seek fast and convenient shopping experiences. The 30-minute delivery service is a technology-driven offering that enables customers to receive their grocery and convenience items within a 30-minute time frame. For instance, in December 2023, Instacart of Maplebear Inc., a US-based retail company, launched a 30-minute delivery service called 'Fairway Now,' powered by Instacart. This service allows customers to receive store-to-door delivery of groceries and essentials in as fast as 30 minutes. It is designed to provide last-minute shopping convenience, enabling customers to access a wide range of items quickly.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Food And Grocery Retail Market Characteristics
3. Food And Grocery Retail Market Trends And Strategies
4. Food And Grocery Retail Market - Macro Economic Scenario
5. Food And Grocery Retail Market Size And Growth
…..
27. Food And Grocery Retail Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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