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Convenience Stores Market worth $3.11 trillion by 2030, growing at a CAGR of 5.18% - Exclusive Report by 360iResearch
Convenience Stores Market | 360iResearch
The Global Convenience Stores Market to grow from USD 2.18 trillion in 2023 to USD 3.11 trillion by 2030, at a CAGR of 5.18%.
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A convenience store is a retail establishment offering a limited selection of food, beverages, and other merchandise. These stores typically offer items such as snacks, candy, dairy products, soft drinks, and grocery items in the same place. Convenience stores are generally located in close proximity to residential areas and often in locations where there is high foot traffic. The primary purpose of a convenience store is to offer customers quick and easy access to everyday items they may need. However, convenience stores are typically more expensive than larger retail outlets due to their higher overhead costs. Market players are consistently working on improving the operational efficiency of convenience stores by adding AI and ML-based technologies for inventory management. They are also making investments in expanding franchises of their stores to elevate the commercialization of the business.
In the United States, the convenience store count is considerably higher than other trade channels such as supermarkets and grocery stores. The changing shopping conduct and the pandemic reformed the U.S. retail sector, resulting in increased functioning and the expansion of convenience stores. Customers are more likely to visit convenience stores due to fewer crowds than supermarkets, which increases the overall sales of convenience stores in this region. The increase in purchasing power of the middle-class population in China and Vietnam is attributed to the surge in demand for convenience stores. Countries such as India and Japan noticed significant growth in convenience stores, especially in urban areas, due to lifestyle changes and consumers living a fast-paced life. In Europe, the development of infrastructure, the increased number of stores, and the introduction of convenience formats by major grocery chains to attract customers by offering high standards of convenience are surging the overall demand for convenience stores. Convenience stores in the Middle East & Africa are expected to grow in the forecast period due to increasing infrastructural development.
Market Segmentation & Coverage:
This research report categorizes the Convenience Stores Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Product, market is studied across Center Store, Cigarettes & Tobacco, Foodservice, Low Alcoholic Beverages, and Packaged Beverages. The Cigarettes & Tobacco is projected to witness significant market share during forecast period.
Based on Store Type, market is studied across Expanded Convenience Store, Hyper Convenience Store, and Kiosks & Mini Convenience Store. The Hyper Convenience Store is projected to witness significant market share during forecast period.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Asia-Pacific is projected to witness significant market share during forecast period.
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FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the Convenience Stores Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the Convenience Stores Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Key Company Profiles:
The report delves into recent significant developments in the Convenience Stores Market, highlighting leading vendors and their innovative profiles. These include 24seven by Godfrey Phillips India Limited, 7-Eleven, Inc., Al Madina Distribution Centre LLC, Alibaba Group Holdings Ltd., Alimentation Couche-Tard Inc., Amazon.com, Inc., Casey's General Stores, Inc., Chevron Corporation, Cumberland Farms by EG America, LLC, Dorfin Inc., Falls Wholesale, FamilyMart Co., Ltd., Groupe Beaudry, Hess Express by Speedway LLC, Jacksons Food Stores, Inc., Lawson, Inc., Mayrand Food Service Group, Metcash Limited, Parkland Fuel Corporation, Plaid Pantry, Inc., QuickChek Corp., QuikTrip Corporation, Ricco Food Distributors, Royal Farms, Rutter's Dairy and Rutter's Stores, Stewart's Shops Corp., Thorntons LLC, United Dairy Farmers, Wawa, Inc., and Xtra Mart by Alliance Energy LLC.
Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Convenience Stores Market, by Product
7. Convenience Stores Market, by Store Type
8. Americas Convenience Stores Market
9. Asia-Pacific Convenience Stores Market
10. Europe, Middle East & Africa Convenience Stores Market
11. Competitive Landscape
12. Competitive Portfolio
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Convenience Stores Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Convenience Stores Market?
3. What is the competitive strategic window for opportunities in the Convenience Stores Market?
4. What are the technology trends and regulatory frameworks in the Convenience Stores Market?
5. What is the market share of the leading vendors in the Convenience Stores Market?
6. What modes and strategic moves are considered suitable for entering the Convenience Stores Market?
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About 360iResearch
360iResearch is a market research and business consulting company headquartered in India, with clients and focus markets spanning the globe.
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