Food Retail Market Trends and Forecast
The future of the global food retail market looks promising with opportunities in the physical store and online store markets. The global food retail market is expected to grow with a CAGR of 3.0% from 2024 to 2030. The major drivers for this market are increasing online grocery shopping & delivery services, rising demand for organic & healthy food options, and growing consumer demand for products with longer shelf lives.
• Lucintel forecasts that packed is expected to witness the higher growth over the forecast period.
• Within this market, physical store is expected to witness the higher growth.
• North America is expected to witness highest growth over the forecast period.
United States: Walmart launched its InHome delivery service, expanding its e-commerce capabilities to enhance customer convenience and compete with Amazon Fresh.
United Kingdom: Tesco announced a partnership with Loop to offer zero-waste packaging options, targeting a 50% reduction in packaging waste by 2025.
China: AlibabaÄX%$%Xs Freshippo opened 30 new stores, emphasizing a seamless online-to-offline shopping experience to cater to the growing middle-class demand.
India: Reliance Retail set a target to double its grocery market share by 2025 through extensive expansion of its JioMart platform and local sourcing initiatives.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Food Retail by Segment
The study includes a forecast for the global food retail by category, food, beverage, distribution channel, and region.
Food Retail Market by Category [Shipment Analysis by Value from 2018 to 2030]:
• Packed
• Unpacked
Food Retail Market by Food [Shipment Analysis by Value from 2018 to 2030]:
• Bakery & Confectionery Products
• Dairy Products
• Meat & Poultry Products
• Fruits
• Vegetables
• Dry Goods
• Others
Food Retail Market by Beverage [Shipment Analysis by Value from 2018 to 2030]:
• Alcoholic Beverages
• Non-Alcoholic Beverages
Food Retail Market by Distribution Channel [Shipment Analysis by Value from 2018 to 2030]:
• Physical Store
• Online Stores
Food Retail Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Food Retail Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies food retail companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the food retail companies profiled in this report include-
• Walmart
• Costco Wholesale
• 7-ELEVEN
• Amazon
• The Kroger
• arget Brands
• ALDI
• AEON
• Carrefour CA
• Schwarz Gruppe
Recent Development in the Food Retail Market
Walmart: Walmart has launched its InHome delivery service, allowing delivery personnel to stock groceries directly into customersÄX%$%X refrigerators. This initiative aims to enhance customer convenience and solidify WalmartÄX%$%Xs position in the growing e-commerce grocery sector.
Tesco: Tesco has partnered with Loop, a global reusable packaging platform, to introduce zero-waste packaging options for various products. This initiative supports TescoÄX%$%Xs goal of reducing packaging waste by 50% by 2025 and promotes sustainability in the food retail industry.
Alibaba: Alibaba’s Freshippo continues to expand rapidly, with 30 new stores opened recently. These stores blend online and offline shopping experiences, leveraging AlibabaÄX%$%Xs technology to provide personalized and efficient grocery shopping. This expansion caters to the increasing demand from ChinaÄX%$%Xs growing middle class.
Amazon: Amazon Fresh has expanded its physical store presence in the United States, introducing innovative features like smart Dash Carts and Alexa integration for a seamless shopping experience. This move is part of AmazonÄX%$%Xs strategy to integrate its e-commerce expertise with physical retail.
Carrefour: Carrefour has committed to sourcing 100% of its products from sustainable sources by 2030. The company has also invested in digital transformation, including the development of its e-commerce platform and implementing AI-driven supply chain management to improve efficiency and customer service.
Features of the Global Food Retail Market
Market Size Estimates: Food retail market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Food retail market size by various segments, such as by category, food, beverage, distribution channel, and region in terms of value ($B).
Regional Analysis: Food retail market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different categories, food, beverages, distribution channels, and regions for the food retail market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the food retail market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the growth forecast for food retail market?
Answer: The global food retail market is expected to grow with a CAGR of 3.0% from 2024 to 2030.
Q2. What are the major drivers influencing the growth of the food retail market?
Answer: The major drivers for this market are increasing online grocery shopping & delivery services, rising demand for organic & healthy food options, and growing consumer demand for products with longer shelf lives.
Q3. What are the major segments for food retail market?
Answer: The future of the food retail market looks promising with opportunities in the physical store and online store markets.
Q4. Who are the key food retail market companies?
Answer: Some of the key food retail companies are as follows:
• Walmart
• Costco Wholesale
• 7-ELEVEN
• Amazon
• The Kroger
• arget Brands
• ALDI
• AEON
• Carrefour CA
• Schwarz Gruppe
Q5. Which food retail market segment will be the largest in future?
Answer: Lucintel forecasts that packed is expected to witness the higher growth over the forecast period.
Q6. In food retail market, which region is expected to be the largest in next 5 years?
Answer: North America is expected to witness highest growth over the forecast period.
Q7. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the food retail market by category (packed and unpacked), food (bakery & confectionery products, dairy products, meat & poultry products, fruits, vegetables, dry goods, and others), beverage (alcoholic beverages and non-alcoholic beverages), distribution channel (physical store and online stores), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
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