Asia Pacific food and grocery retail is estimated to witness a strong CAGR of 6.5% during the forecast period (2020-2026). With rapid economic growth, increasing urbanization, and accelerated integration into the global market, there has been a surge in the number of supermarkets and hypermarkets in many emerging countries of Asia Pacific. The region boasts two of the fastest growing economies including India and China. The urbanization is also at an all-time high and playing a pivotal role in the growth of food and grocery retailers.
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Growth witnessed in supermarkets across the globe has resulted from the increasing competition between retailers, primarily in the US and Europe. This increase in competition has led to increasing introduction of supermarkets and hypermarkets, squeezing the smaller-scale retailers. Retailing giants in developed countries have been looking to seek opportunities overseas, such as in Asia Pacific, responding to the impact of increasing domestic competition. Tapping on the opportunities overseas has been supported by the liberalization of rules relevant to FDI (Foreign Direct Investment) in numerous countries in the region. However, as Asia Pacific being the highest growing economies and holding the maximum potential growth for the food and grocery retail market, the developments have not been driven only by international retailers, the past decade has also witnessed the emergence of domestic chains in the region.
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Asia Pacific Food and Grocery Retail Market Report Segment
By Product
- Packaged Foods
- Unpackaged Foods
- Beverages
- Other Household Item
By Distribution Channel
- Online
- Offline
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