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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Grocery Market Growth
The rapid expansion of the food and beverage sector, the growing chain of supermarkets and retail stores, and the rising demand for daily household products are some crucial market drivers. A significant percentage of shoppers prefer in-store shopping for food items and household goods as it allows them to inspect the quality of items. Several stores also offer the provision of store discounts and coupons on bulk shopping, which is a rising trend in the grocery market.
Some grocery stores also offer the facility of pre-ordering deli items online, so the consumers do not have to wait in queues. Some grocery retailers are offering the provision of electronic shelf labels which can offer detailed product information upon scanning the QR code.
As per the payment systems provider Ingenico, around 25 per cent of the shoppers use online grocery shopping apps. Additionally, Amazon, in November 2023, announced that the provision of its online grocery shopping will be available to non-prime customers as well, to compete with the market giants such as Instacart and Walmart.
Grocery Market Report Snapshots
Grocery Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 3.87 trillion.
The market is estimated to grow at a CAGR of 4.70% between 2024 and 2032.
The market is estimated to witness a healthy growth during 2024-2032 to reach around USD 5.87 trillion by 2032.
The market is being driven due to rapid expansion of the food and beverage sector, the growing chain of supermarkets and retail stores, and the rising demand for daily household products.
The key trends aiding the market include pre-ordering facilities in online shopping, the rise of omnichannel strategy, and the introduction of subscription models.
Regions considered in the market are North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Based on product type, market segmentations include packaged food, unpackaged food, drinks, tobacco, and household products, among others.
Different distribution channels are packaged food, unpackaged food, drinks, tobacco, and household products, among others.
The major players in the market are 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., and Kellanova, among others.
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