Asia Pacific Grocery Market Report and Forecast 2024-2032

Asia Pacific Grocery Market Size

The Asia Pacific Grocery market reached is projected to grow at a CAGR of 4.45% between 2024 and 2032.

Asia Pacific Grocery Market Outlook

• According to the National Bureau of Statistics of China , in 2023, per capita disposable income rose 6.3% to 39,218 yuan.

• In China, the nationwide per capita consumption expenditure on food, tobacco, and liquor was 29.8% of the total.

• Monthly per capita consumption expenditure on food in urban India was INR 2,530 in 2022-23, as reported by MOSPI.

Asia Pacific Grocery Market Growth

The Asia Pacific grocery market growth is led by hypermarkets and supermarkets as the popular forms of distribution channels.

In the domestic region's grocery market, traditional retail outlets like supermarkets are favored for grocery shopping due to their convenient one-stop shopping experience and modern amenities, catering to diverse consumer needs effectively. Convenience, variety, and usually competitive pricing draw in large numbers of customers. In rapidly urbanizing regions like China and India, hypermarkets and supermarkets offer convenience and accessibility, driving growth through increased consumer spending, shaping urban retail landscapes significantly.

The grocery industry in the domestic region is poised to witness growth owing to many new entrants in the online grocery shopping space. As of 2021, Zepto, an online grocery delivery start-up was launched, In May 2022, the company raised USD 200 million from venture capitalists at a valuation of a whopping USD 900 million.

E-commerce platforms are also on the rise owing to increased access to internet services making online channels grow at a high rate. Convenience, time-saving benefits, and wider product selection are factors driving consumers towards online grocery shopping. In the Philippines as of 2023, online channels accounted for 0.4% of the grocery sales growing by 53.6% year-on-year.

Asia Pacific Grocery Market Segmentation

Asia Pacific Grocery Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Market Breakup by Product Type

• Packaged Food

• Unpackaged Food

• Drinks

• Tobacco

• Household Products

• Others

Market Breakup by Distribution Channel

• Hypermarkets/Supermarkets

• Convenience Stores

• Online Channels

• Others

Market Breakup by Country

• China

• Japan

• India

• ASEAN

• Australia

• Others

Asia Pacific Grocery Market Share

In the Asia Pacific, growth in the grocery market is led by packaged foods which refers to food items that are processed, sealed, and packaged in containers or wrappers. Packaged foods offer convenience and have longer shelf lives, they come in a range of varieties and portions and go through stringent quality control measures. Many such brands also establish strong brand recognition and loyalty among consumers which leads to growth.

Leading Companies in the Asia Pacific Grocery Market

The report provides a detailed analysis of the following key players in the market, covering their competitive landscape and latest developments like mergers and acquisitions, investments, and technological innovation.

• Nestlé S.A.

• The Procter & Gamble Company

• Unilever plc

• The Coca-Cola Company

• Pepsico, Inc.

• Mondelez International Inc.

• Danone SA

• General Mills Inc.

• Kraft Heinz Co.

• Kellanova  

• Others

Major market players are expanding their outreach by investing in product innovation, sustainable initiatives and diversification of product portfolios to cater to a wide range of industries. This enhances their visibility to companies in end use industries, thereby contributing to market growth.

Key Highlights of the Report