According
to a new market report published by Persistence Market Research
“Global Market Study on Food Retail: Supermarkets/hypermarkets
Segment To Witness Highest Growth by 2020,” the global Food Retail
market was valued at USD 5,643.6 billion in 2013 and is expected to
grow at a CAGR of 6.1 % from 2014 to 2020, to reach an estimated
value of USD 8,541.9 billion in 2020.
Rise
in the global population, changing customer preferences, and emerging
economies are making the way for the food retail industry. It is a
dynamically progressing industry and contributes to the development
of several industries such as food packaging. Rising middle-class
population is creating growth opportunities for food
retail market and is expected to drive the market further.
According to a U.S.-based research firm, about 1.5 billion households
globally would be in the middle-class category by 2020, up from 1.2
billion households in 2012. China and India are among the countries
witnessing a fast growth in their middle-class population. In 2012,
there were 227 million and 149 million middle-class households in
China and India, respectively. In addition, due to busy life
schedules many working peoples have less time to shop for food items.
Therefore, increasing online retail shopping through online retail
formats such as in-store pickup and pure-play online grocers is
expected to drive the food retail market in the years to come.
The
restraining impact of lack of supply chain effectiveness in less
developed countries is expected to be medium in the short and medium
terms, and low in the long term. Government investment in
infrastructure and the entry of global food processing companies in
developing countries are expected to minimize the impact of supply
chain-related restraints. The threat from unorganized players is
expected to be high in the short term, medium in the medium term and
low in the long term. The number of organized players is increasing
in developing countries due to increasing urbanization and per capita
income. In India, discussions regarding foreign direct investment
(FDI) in retail are currently under way, and if it is approved by the
Indian government it may add benefits to the food retail industry.
Asia-Pacific
is the largest market for food retail. Increasing per capita income,
growing level of education, smaller families and increasing
urbanization and westernization are the key factors driving the
growth of food retail industry in this region. Europe is the second
largest market for food retail due to the presence of the large
number of branded stores and discounters such as Aldi, Carrefour,
Auchan and Tesco which offer fresh and branded products. They are
then followed by North America. Health and nutritional concern among
consumers are the major factors fuelling the growth of the food
retail market in this region. RoW region has experienced the fastest
growth in the past few years and is likely to hold its position in
the years to come.
For
more information on this report, fill the form @
https://www.persistencemarketresearch.com/samples/3922
Food
Retail is categorized under distribution channel into four different
segments: supermarkets or hypermarkets, independent and specialist
retailers, convenience stores and others. Supermarket or hypermarket
segment holds the largest share of the overall market in 2013 at USD
2,925.8 billion and is expected to reach USD 4,448.5 billion by 2020
at a CAGR of 6.2 % during 2014 to 2020.
Under
regional segment, the Asia Pacific food retail market (the largest
market in 2013) increased by 7.2 % CAGR during 2010-2013 to reach USD
1,909.2 million in 2013.
Some
of the major companies of food retail operating at the global level
are such as Wal-Mart Stores Inc., Carrefour SA, Tesco plc, AEON CO.
LTD., Metro AG, Seven & I Holdings Co., Ltd., The Kroger Company,
Groupe Auchan and REWE Group.
Food
Retail Market, by Distribution Channel
- Supermarkets/hypermarkets
- Independent and Specialist Retailers
- Convenience Stores
- Others
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