Food & Grocery Retail Market by Walmart; Costco Wholesale Corporation; 7-Eleven, Inc.
The
global Food And Grocery Retail Market size is expected to
reach USD 17.3 trillion by 2027, expanding at a CAGR of 5.0% over the forecast
period, according to a new report by Grand View Research, Inc. Rising
disposable income and affordability, along with rapidurbanization, have been
driving the market across the globe. Increasing middle-income group consumers
have been raising the demand for quality consumables and grocery retail in
developing nations. Furthermore, provision of home delivery offered by most
supermarkets has become an attractive offer for time-pressed consumers.
Over
the past few years, consumers are opting for convenient, ready-to-cook,
ready-to-eat, and bakery products in order to save time and effort. This has
widened the scope of the packaged consumables over the world. The online
distribution channel is expected register the highest CAGR over the forecast
period due to shifting consumer preference towards e-commerce. Key players
including Walmart, The Kroger Co, and Amazon are investing in innovation and
automation of online supply chain to fulfill the delivery requirement of the
fresh and grocery products. Factors including order tracking, delivery slot
notification,transparent pricing model,low per-order costs, and appealing
subscription models have been driving the food and grocery retail sales through
this distribution channel.
The
industry for food and grocery retail is highly competitive due to presence of a
large number of global and local players. Key competitors in this industry
include Walmart; Costco Wholesale Corporation; 7-Eleven, Inc.; The Kroger Co;
Schwarz Gruppe; ALDI Purchasing GmbH & Co. oHG; Carrefour; Tesco PLC;
Target Brands, Inc.; Ahold Delhaize, Amazon; and Albertsons Companies. Merger
and acquisition activities have surged in the industry in the last few years.
For instance, in November 2018, Lidl, a subsidiary of Schwarz Gruppe, acquired
27 Best Market supermarkets running in New Jersey and New York to expand its
business in U.S.
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Details of Report @ https://www.grandviewresearch.com/industry-analysis/food-grocery-retail-market
Food
& Grocery Retail Market Report Highlights
- In terms of
product, packaged consumables dominated the market in 2019 with over 40%
share of the global revenue owing increased demand for convenience
products among the working population
- Middle East
and Africa is expected register the fastest CAGR of 5.8% from 2020 to
2027. Improved economic indicators in countries, including Nigeria,
Ethiopia, and Kenya, as a result of supportive economic policies by
national governments are expected to have a positive impact on the
regional industry growth
- Online
distribution channel is expected to expand at the fastest CAGR of 6.2%
from 2020 to 2027 due to increasing penetration of online retailers and
smartphones
- Exclusive
value-added services and continuous access of sales support to the
consumers are expected to remain critical success factors for the industry
participants in the near future.
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
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Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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