Food And Beverage Stores: A Leading Driver Behind Favorable Economic Outlook Fuels Optimism In The Food And Beverage Stores Market Market Expansion in 2025

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What Will the Food And Beverage Stores Industry Market Size Be by 2025?
In recent times, the market size of food and beverage stores has witnessed robust growth. The market value, which stands at $2294.99 billion in 2024, is expected to rise to $2507.87 billion in 2025, recording a compound annual growth rate (CAGR) of 9.3%. The noteworthy growth observed during the historical phase can be credited to factors such as prevailing economic conditions, shifts in consumer preferences, an increase in population, urbanization, and advancements in technology.

What's the Long-Term Growth Forecast for the Food And Beverage Stores Market Size Through 2029?
In the coming years, it is anticipated that the food and beverage stores market will experience significant expansion, swelling to a size of $3634.01 billion by 2029, with a 9.7% compound annual growth rate (CAGR). The expected growth during the forecast period is largely due to factors such as e-commerce and online grocery shopping, trends in health and wellness, private labels and store brands, and digital marketing and personalization. Notable trends for the forecast period include embracing sustainability and eco-friendly practices, virtual grocery shopping and use of augmented reality (AR), food safety and traceability, and a preference for convenience and ready-to-eat foods.

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What Are the Key Growth Drivers Fueling the Food And Beverage Stores Market Expansion?
The anticipated constant economic expansion in numerous developed and developing nations is predicted to be favourable for food and beverage stores markets. As per the World Economic Situation and Prospects 2024 report from the United Nations, an Intergovernmental organization based in the UK, it is projected that the global GDP growth will slow down from an anticipated 2.7% in 2023 to 2.4% in 2024. The comeback of commodity prices after a historical downturn is also projected to be a major stimulus of economic growth. The US economy is forecasted to maintain steady growth in the forecasted period. Moreover, the growth rate in emerging markets is expected to outpace that in developed markets during the forecast period. Higher economic expansion will likely boost public and private investments, joint ventures, and foreign direct investments in the consumer markets, thereby propelling the market during the forecast period.

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What Are the Key Trends Driving Food And Beverage Stores Market Growth?
Self-checkout technology is becoming increasingly prevalent in various types of stores, such as department stores, specialty shops, and small convenience outlets, to automate transaction processes. These systems, coupled with a mobile software application, gather purchase information and facilitate automatic payment receipt. They leverage Near Field Communication (NFC) or Quick Response (QR) code, a type of machine-readable optical tag, which eradicates the need for checkout lines, loading and unloading, as well as staff to control the checkout station. This kind of automation not only reduces operational costs but also conserves time otherwise spent on manual billing procedures. Retail outlets in the USA and the UK are making extensive use of self-checkout systems. For example, in April 2023, the Carrefour Group, a supermarket company based in France, introduced its first self-service checkout terminal that features a digital display and a handheld barcode scanner.

How Is the Food And Beverage Stores Market Segmented?
The food and beverage storesmarket covered in this report is segmented -

1) By Type: Specialty Food Stores, Beer, Wine And Liquor Stores
2) By Ownership: Retail Chain, Independent Retailer
3) By Price Range: Premium, Mid-Range, Economy

Subsegments:
1) By Specialty Food Stores: Organic Food Stores, Gluten-Free Food Stores, Vegan/Vegetarian Food Stores, Natural Food Stores, Gourmet Food Stores
2) By Beer: Craft Beer Stores, Import Beer Stores, Domestic Beer Stores
3) Wine And Liquor Stores: Wine Stores, Liquor Stores, Beer And Ale Stores

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Which Companies Are Leading the Charge in Food And Beverage Stores Market Innovation?
Major companies operating in the food and beverage stores market include Woolworths Group Limited, Alimentation Couche-Tard Inc., Koninklijke Ahold Delhaize NV, LVMH Moet Hennessy Louis Vuitton SE, George Weston Limited, Jardine Matheson Holdings Limited, Seven & i Holdings Co. Ltd., Marubeni Corporation, Greggs plc, Lancaster Colony Corporation, Walmart Inc., The Kroger Company, Albertsons Companies Inc., Ahold Delhaize USA Inc., Publix Super Markets Inc., H-E-B Grocery Company LP, Meijer Inc., Hy-Vee Inc., Wegmans Food Markets Inc., Giant Eagle Inc., Wakefern Food Corporation, WinCo Foods Inc., Sprouts Farmers Market Inc., Whole Foods Market Inc., Trader Joe's Company, Aldi Inc., Lidl US LLC, Costco Wholesale Corporation, Sam's West Inc., Target Corporation, The Home Depot Inc., Lowe's Companies Inc., Best Buy Co. Inc., Barnes & Noble Inc., Starbucks Corporation, Dunkin Brands Group Inc., McDonald's Corporation, Yum Brands Inc., Domino's Pizza Inc.

Which Regions Are Leading the Global Food And Beverage Stores Market in Revenue?
Asia-Pacific was the largest region in the food and beverage stores market in 2024. Africa was the second largest region in the food and beverage stores market. The regions covered in the food and beverages stores market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

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