Press release
Convenience Stores Market: Rapid Growth and Key Trends Drive The Industry Forward
Convenience Stores Market Share
What Is The Projected Market Size Of The Global Convenience Stores Market And Its Growth Rate?
• In 2024, the convenience stores market size stood at $1140.11 billion.
• It is expected to witness a significant rise to $1268.27 billion in 2025 with a compound annual growth rate (CAGR) of 11.2%.
• The market size is predicted to attain a considerable growth to $1753.22 billion in 2029 at a CAGR of 8.4%.
What Is Driving The Growth In The Convenience Stores Market?
A prime driver of growth in the convenience store market is an increase in the disposable income of consumers. Disposable income, the money left to spend and save after income tax deductions, impacts total product consumption. With increased disposable income, consumers are more likely to spend on goods and services, thereby boosting the convenience store market. For instance, India witnessed an increase in consumer disposable income, climbing to 274.13 million in 2022 from 238.57 million in 2021. The increase of global disposable incomes and family spending by 2.6% in 2022 fuels the market growth.
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Who Are the Key Players Driving Convenience Stores Market Growth?
• Casey's General Stores Inc.
• Alimentation Couche-Tard Inc.
• Murphy USA Inc.
• Parkland Corporation
• 7-Eleven Inc.
• FamilyMart Co. Ltd.
• OXXO
• Amazon.com Inc.
• Best-One
• BGF Retail Co. Ltd., and others.
What Are The Key Trends In The Convenience Stores Market?
• Contactless shopping and payment options
• Integration of AI and analytics for customer insights
• Collaborations with food delivery platforms
• Innovations in store design and layout
• Rise of micro-fulfillment centers
What Are The Segments Of The Global Convenience Stores Market?
• By Store Type: Kiosks, Mini Convenience Store, Limited Selection Convenience Store, Traditional Convenience Store, Expanded Convenience Store, Hyper Convenience Store
• By Ownership: Retail Chain, Independent Retailer
• By Product Type: Cigarettes And Tobacco, Foodservice, Packaged Beverages, Center Store, Low Alcoholic Beverages, Other Product Types
Which Region Leads The Convenience Stores Market?
In 2024, North America held the largest share in the convenience stores market. The regions analyzed in the report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Convenience Stores Market Global Market Report?
- Market Size Analysis: Analyze the Convenience Stores Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Convenience Stores Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Convenience Stores Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Convenience Stores Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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