Global food and grocery retail market is estimated to record a substantial CAGR of more than 5.0% during the forecast period (2020-2026). The global retail industry is on an all-time high as global economies have continued to perform exceptionally well, stimulating the retail sales and profitability. The past few years have seen noteworthy developments in the overall retail and e-retail space all around the globe. More and more convenience store chains are seeking to tap into the area of traditional groceries through business-to-business e-commerce with a digital wholesale marketplace. The boom of urbanization has played a significant role in the acceleration of the food and grocery retail market. As projected by the UN (United Nations), around 68% of the global population is expected to live in urban areas by 2050 against 55% in 2018. Moreover, during the forecast period, the global population will increase from 7.71 trillion in 2019 to nearly 8.26 trillion in 2026. Increasing urbanization is one of the key factors that foretell the potential of the global food and grocery retail market.
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According to Orion’s estimation, food and grocery e-commerce is expected to witness record-breaking growth in not only the developing nations but in developed countries as well. The category is expected to be the fastest-growing one in e-retail space. Customers are increasingly asking for faster deliveries across the e-commerce space, which sets the tone for the food and grocery e-retail market. Giants such as Amazon, Walmart Inc., and Kroger, among more have taken a huge step towards expanding their footprints into the area of modern grocery retailing, increasing their offerings and reach significantly, which in turn is stimulating the global food and grocery retail market growth.
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Market Coverage
- Market number available for – 2019-2026
- Base year- 2019
- Forecast period- 2020-2026
- Segment Covered- by Product and Distribution Channel
- Regions Covered- North America, Europe, Asia-Pacific, Rest of the World
- Competitive Landscape- Ahold Delhaize, ALDI, Carrefour S.A., Sysco Corporation, and Walmart Inc.
Global Food and Grocery Retail Market Report – Segmentation
By Product
- Packaged Foods
- Unpackaged Foods
- Beverages
- Other Household Products
By Distribution Channel
- Online
- Offline (Brick & Mortar)
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
