- Fresh Food
- Frozen Food
- Food Cupboard
- Beverages
- Cleaning & Household
- Others
Food Retail Market size was valued at USD 183,628.5 million in 2023 and projected to reach USD 201,004.7 million by 2030 is poised to grow at 1.3% CAGR from 2024-2030. The food retail market is driven by several factors like rising disposable income, shifting demographics, an e-commerce boom, and increased health consciousness. As economies grow, consumers have more money to spend on food, including higher-quality items and convenience options. The aging population and growing urbanization are driving demand for prepared meals, smaller portion sizes, and easy-to-cook options. Online grocery shopping is on the rise, offering convenience and a wider selection, particularly for busy urban dwellers.
Consumers are increasingly interested in healthy, organic, and locally sourced food, creating a niche market for specialty stores and private-label goods. Yet supply chain disruptions, labor shortages, rising food prices, and competition are the constraints in the market that hinder the progress of the food retail market. Despite these challenges omnichannel retailing, personalization, sustainability initiatives, and subscription services are the opportunities, and automation, focus on freshness, experiential retail, and plant-based alternatives are the trends in the food retail market due to these opportunities and trends there is a significant growth in the upcoming years.
Food Retail Market Key Developments:
- July 2023, Swiggy, a leading food technology unicorn, has expanded its business horizon by acquiring the FMCG retail distribution firm LYNK Logistics Ltd. This strategic move marks Swiggy’s foray into India's competitive food and grocery retail sector, one of the largest markets globally.
- In September 2023, Kroger Co. and Albertsons Companies Inc. formalized a definitive agreement with C&S Wholesale Grocers, LLC for the divestiture of certain stores, brand names, distribution hubs, corporate offices, and in-house brands.
Food Retail Market Summary
Study Period
2024-2030
Base Year
2023
CAGR
1.3%
Largest Market
North America
Fastest Growing Market
Asia Pacific
Food Retail Market Dynamics
The food retail market is propelling due to the integration of physical stores with online platforms creating a seamless shopping experience, offering customers convenience and flexibility. Additionally, leveraging data analytics to personalize product offerings and promotions can attract and retain customers and are increasingly eco-conscious, presenting opportunities for retailers to stock sustainable products and reduce their environmental footprint. Offering curated meal kits or grocery subscription boxes caters to busy consumers seeking convenience and variety. Retailers are adopting automation technologies like self-checkout kiosks and warehouse robots to improve efficiency and reduce costs. Also incorporating dining areas, cooking demonstrations, and other in-store experiences to attract customers and create a destination feel. Consumers are focusing on freshness, high-quality produce, and prepared meals, leading to an emphasis on shorter supply chains and local sourcing and the rise of vegan and vegetarian diets is driving demand for plant-based meat and dairy substitutes
Asia-Pacific Got Significant Share
Food Retail Market Regional Analysis
Based on regions the market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa. Asia Pacific (APAC) region holds the biggest market share due to factors like large populations in countries like China and India, leading to high revenue in food and grocery sales and growing disposable incomes allowing for increased spending on food. North America mature market with established players like Walmart and Kroger. Sees strong growth in online grocery sales and continued dominance of supermarkets. Europe is a well-developed market with diverse retail formats, including discount grocers and specialty stores. Latin America shows promising growth potential due to a rising middle class and increasing urbanization. Middle East & African regions with untapped potential, but fragmented markets and logistical challenges present hurdles.
Latin America
Europe
Asia Pacific
Middle East
North America
Food Retail Market Segmentation
By Product Type
By Distribution Channel
- Supermarkets & Hypermarkets
- Convenience Stores, Departmental Stores & Clubs
- Online
Geography
- North America
- Europe
- The Asia Pacific
- Latin America
- MEA
Frequently Asked Questions
The food retail market was valued at USD 183,628.5 million in 2023 and is projected to grow at 1.3% CAGR over the forecast years to reach USD 201,004.7 million by 2030.
• Rising disposable income • Shifting demographics • An e-commerce boom. • Increased health consciousness
• Omnichannel retailing. • Personalization • Sustainability initiatives • Subscription services
• Supply chain disruptions. • Labor shortages • Rising food prices • Competition
Market research is segmented based on product, distribution channel, and region.
Asia-Pacific is the dominating region in the food retail
Key Features of the Reports
- The food retail market report provides granular level information about the market size, regional market share, historic market (2019-2023), and forecast (2024-2030)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and key strategies.
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market.
- The report tracks recent innovations, key developments, and start-up details that are actively working in the market.
- The report provides a plethora of information about Market entry strategies, regulatory framework, and reimbursement scenarios.
| 1.Executive Summary |
| 2.Global Food Retail Market Introduction |
| 2.1.Global Food Retail Market - Taxonomy |
| 2.2.Global Food Retail Market - Definitions |
| 2.2.1.Product Type |
| 2.2.2.Distribution Channel |
| 2.2.3.Region |
| 3.Global Food Retail Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Product Landscape |
| 3.6. New Product Launches |
| 3.7. Impact of COVID 19 on Market |
| 4.Global Food Retail Market Analysis, 2019 - 2023 and Forecast 2024 - 2030 |
| 4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5.Global Food Retail Market By Product Type, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 5.1. Fresh Food |
| 5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. Frozen Food |
| 5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 5.3. Food Cupboard |
| 5.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.3.3. Market Opportunity Analysis |
| 5.4. Beverages |
| 5.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.4.3. Market Opportunity Analysis |
| 5.5. Cleaning & Household |
| 5.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.5.3. Market Opportunity Analysis |
| 5.6. Others |
| 5.6.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.6.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.6.3. Market Opportunity Analysis |
| 6.Global Food Retail Market By Distribution Channel, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 6.1. Supermarkets & Hypermarkets |
| 6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. Convenience Stores, Departmental Stores & Clubs |
| 6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 6.3. Online |
| 6.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.3.3. Market Opportunity Analysis |
| 7.Global Food Retail Market By Region, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 7.1. North America |
| 7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market Opportunity Analysis |
| 7.2. Europe |
| 7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market Opportunity Analysis |
| 7.3. Asia Pacific (APAC) |
| 7.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.3.3. Market Opportunity Analysis |
| 7.4. Middle East and Africa (MEA) |
| 7.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.4.3. Market Opportunity Analysis |
| 7.5. Latin America |
| 7.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.5.3. Market Opportunity Analysis |
| 8.North America Food Retail Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 8.1. Product Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 8.1.1.Fresh Food |
| 8.1.2.Frozen Food |
| 8.1.3.Food Cupboard |
| 8.1.4.Beverages |
| 8.1.5.Cleaning & Household |
| 8.1.6.Others |
| 8.2. Distribution Channel Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 8.2.1.Supermarkets & Hypermarkets |
| 8.2.2.Convenience Stores, Departmental Stores & Clubs |
| 8.2.3.Online |
| 8.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 8.3.1.United States of America (USA) |
| 8.3.2.Canada |
| 9.Europe Food Retail Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 9.1. Product Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.1.1.Fresh Food |
| 9.1.2.Frozen Food |
| 9.1.3.Food Cupboard |
| 9.1.4.Beverages |
| 9.1.5.Cleaning & Household |
| 9.1.6.Others |
| 9.2. Distribution Channel Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.2.1.Supermarkets & Hypermarkets |
| 9.2.2.Convenience Stores, Departmental Stores & Clubs |
| 9.2.3.Online |
| 9.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.3.1.Germany |
| 9.3.2.France |
| 9.3.3.Italy |
| 9.3.4.United Kingdom (UK) |
| 9.3.5.Spain |
| 10.Asia Pacific (APAC) Food Retail Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 10.1. Product Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1.Fresh Food |
| 10.1.2.Frozen Food |
| 10.1.3.Food Cupboard |
| 10.1.4.Beverages |
| 10.1.5.Cleaning & Household |
| 10.1.6.Others |
| 10.2. Distribution Channel Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.2.1.Supermarkets & Hypermarkets |
| 10.2.2.Convenience Stores, Departmental Stores & Clubs |
| 10.2.3.Online |
| 10.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.3.1.China |
| 10.3.2.India |
| 10.3.3.Australia and New Zealand (ANZ) |
| 10.3.4.Japan |
| 10.3.5.Rest of APAC |
| 11.Middle East and Africa (MEA) Food Retail Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 11.1. Product Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1.Fresh Food |
| 11.1.2.Frozen Food |
| 11.1.3.Food Cupboard |
| 11.1.4.Beverages |
| 11.1.5.Cleaning & Household |
| 11.1.6.Others |
| 11.2. Distribution Channel Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.2.1.Supermarkets & Hypermarkets |
| 11.2.2.Convenience Stores, Departmental Stores & Clubs |
| 11.2.3.Online |
| 11.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.3.1.GCC Countries |
| 11.3.2.South Africa |
| 11.3.3.Rest of MEA |
| 12.Latin America Food Retail Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 12.1. Product Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.1.1.Fresh Food |
| 12.1.2.Frozen Food |
| 12.1.3.Food Cupboard |
| 12.1.4.Beverages |
| 12.1.5.Cleaning & Household |
| 12.1.6.Others |
| 12.2. Distribution Channel Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.2.1.Supermarkets & Hypermarkets |
| 12.2.2.Convenience Stores, Departmental Stores & Clubs |
| 12.2.3.Online |
| 12.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.3.1.Brazil |
| 12.3.2.Mexico |
| 12.3.3.Rest of LA |
| 13. Competition Landscape |
| 13.1. Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) |
| 13.2.1.Seven and I Holdings Co., Ltd. |
| 13.2.2.Costco Wholesale Corp |
| 13.2.3.REWE Group |
| 13.2.4.The Kroger Co. |
| 13.2.5.Carrefour S.A. |
| 13.2.6.Wal-Mart Stores |
| 13.2.7.Metro AG |
| 13.2.8.Tesco Plc |
| 13.2.9.Group Auchan S.A. |
| 13.2.10.Marks and Spencer Plc |
| 14. Research Methodology |
| 15. Appendix and Abbreviations |
- Seven and I Holdings Co., Ltd.
- Costco Wholesale Corp
- REWE Group
- The Kroger Co.
- Carrefour S.A.
- Wal-Mart Stores
- Metro AG
- Tesco Plc
- Group Auchan S.A.
- Marks and Spencer Plc