Published on : Jan 04, 2019
Albany, New York, January 4, 2019: The global food & grocery retail industry is predicted to record a steady growth in the foreseeable future. Increase in global population along with improved spending habits of consumers has increased the affordability of grocery products and premium food products such as vegetables and fruits, which in turn will fuel the food & grocery retail industry.
These insights along with other valuable intelligence are from the report, included in Market Research Hub’s (MRH) extensive repository, titled, “Food & Grocery Retail Global Industry Guide 2013 – 2022.” In 2017, the global food & grocery retail industry was worth $8,411 billion.
Change in lifestyle coupled with food choices are encouraging manufacturers to try cultivation techniques and ingredients, which will further propel growth of the industry.
Due to technological advancement and hectic lifestyle, many consumers prefer buying groceries online, which will be an imperative growth determinant for the online food & grocery retail market. The ease of ordering food online has further increased online sales revenue, with manufacturers now focusing on digitalization. However, many customers refrain from buying food products online because of the need to see and select fresh food items, delivery time, and also the cost of delivery, which will act as a hindrance to the growth of online food & grocery retail industry.
As e-commerce is growing at a rapid pace, physical retailers are exploring new ideas to attract customers. They are increasing their product offerings by including exotic foods, including social activities such as wine bars and dinner clubs.
Growth in food & grocery retail industry is mostly driven by the countries in Asia-Pacific region. Countries such as Indonesia, China, and India have experienced prominent growth because of the increase in number of modern outlets and the status quo is expected to prevail in the near future.
Food & Grocery Retail Global Industry: Overview of the Report
Current and future prospects of the food & grocery retail market have been covered and analyzed in the report. A detailed study on the market dynamics, and macro trends affecting the food & grocery retail industry growth has been provided. Key segments of the food & grocery retail industry have been recognized and detailed analysis of these segments is provided in key weighted chapters of the report.
The market size of the food & retail is evaluated and delivered in terms of value (US$ Mn) and forecast for the market has been provided up to 2022. The market has been divided categorically into packaged & unpackaged food products, beverages (includes alcoholic and non-alcoholic), household, and tobacco products and region (Asia-Pacific, Europe, France, Germany, Italy, Australia, Japan, Canada, China, Netherlands, Spain, United Kingdom, and United States).
Food & Grocery Retail Global Industry: Regional Outlook and Competitive Scenario
The regional segmentation of the industry has been further segmented on the basis of countries or sub-regions. Size of the food & grocery retail industry, current and future, across these regions and their respective countries has been covered in the report. Regional forecast and analysis provided may help new market entrants in grabbing latent opportunities and gain significant shares of the food & grocery retail industry.
Furthermore, the report also gives detailed information about the leading and upcoming players supporting growth of the food & grocery retail industry, along with the assessment on their business strategies, financial overview, recent developments, and product portfolio.
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