Global Food Retail Market Revenue Estimated to Surpass Around USD 14.79 Trillion By 2030

According to the report, the global Food Retail market size was valued at approximately USD 11.65 Trillion in 2022 and is predicted to reach around USD 14.79 Trillion by the end of 2030, expanding at a CAGR of around 3.03% from 2023 to 2030.

The global food retail industry has been advancing progressively in the last couple of years, which is a trend that seems to persist in the estimated period. The growth in this industry is chiefly being directed by countries across the Asia-Pacific region. The nations such as China, India, and Indonesia have registered major growth owing to a surge in the number of modern outlets. The markets in Western Europe are mature and facing infiltration. The rising consumer preference toward private label brands, augmenting consumer investments in food items, and amplifying supermarket shopping culture are some of the key driving factors of the food retail market.

Some of the leading players in the market are Walmart, Carrefour, Costco Wholesale Corporation, 7-ELEVEN, Inc., Target Brands, Inc., AEON Co Ltd, Amazon.com Inc., The Kroger Co., ALDI, and Schwarz Gruppe, and others.

Rising Customer Awareness & Supermarket Shopping Trend To Boost The Global Food Retail Market

The global food retail market is massively contributing to the augmentation of industries such as food processing and food packaging industries. These industries are accountable for generating jobs and creating employment at a huge scale. Big food retailers generally present their brands with well-recognized brands. The administrations of various countries have taken different measures to certify food safety & hygiene of food products. These are some of the reasons for boosting the growth of the global food retail market.

Some of the key factors that are impelling the development of the global food retail market include rising consumer inclination for private label brands, increasing supermarket shopping trends, and augmenting consumer spending on food items. The requirement for high-quality food retailing & food packaging services, freshness & food safety assurance, and ease in the use of products are some of the trends that can be observed in the global food retail market. Rapidly surging middle-class population across the budding markets and developing online grocery retail shopping are the aspects laying possibilities for the development of global food retail market.

The global food retail market is bifurcated on the account of distribution channels and regional analysis. Based on the distribution channel, the market is divided into independent & specialist retailers, supermarkets/hypermarkets, convenience stores, and others.

The Asia Pacific Region Witnessed The Highest Market Share In The Global Food Retail Market

Based on the geographical analysis, the global food retail market is divided into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. The Asia Pacific region dominated the global food retail market in 2022 and is then followed by Europe. The development of the food retail market in the Asia Pacific region is owing to increasing consumer awareness, increasing per capita income, nuclear families, and adopting Western culture. India and China are the heavily populated countries in the Asia Pacific region, and local and small retailers are dominating the market in these countries.

Browse the full “Food Retail Market - By Product Type (Food, Groceries, and Others), By Distribution Channel (Independent & Specialist Retails, Supermarkets/Hypermarkets, Convenience Stores, and Others), and By Region: Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2023 - 2030” Report at https://www.zionmarketresearch.com/report/food-retail-market

The global food retail market is segmented as follows:

By Product Type 

• Food
• Groceries
• Others

By Distribution Channel

• Independent & Specialist Retail
• Supermarkets/Hypermarkets
• Convenience Stores
• Others

By Region:North America

• The U.S.
• Canada

• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

About Us:

Zion Market Research is an obligated company. We create futuristic, cutting-edge, informative reports ranging from industry reports, the company reports to country reports. We provide our clients not only with market statistics unveiled by avowed private publishers and public organizations but also with vogue and newest industry reports along with pre-eminent and niche company profiles. Our database of market research reports comprises a wide variety of reports from cardinal industries. Our database is been updated constantly in order to fulfill our clients with prompt and direct online access to our database. Keeping in mind the client’s needs, we have included expert insights on global industries, products, and market trends in this database. Last but not the least, we make it our duty to ensure the success of clients connected to us—after all—if you do well, a little of the light shines on us.

Contact Us:

Zion Market Research
244 Fifth Avenue, Suite N202
New York, 10001, United States
Tel: +49-322 210 92714
USA/Canada Toll-Free No.1-855-465-4651
Email: sales@zionmarketresearch.com
Website: https://www.zionmarketresearch.com