North America Grocery Market Report and Forecast 2024-2032

North America Grocery Market Size

The North America grocery market is projected to grow at a CAGR of 10.5% between 2024 and 2032. The market is being driven by the expansion of online distribution channels.

North America Grocery Market Outlook

• The establishment of technologically advanced fulfilment centres by major retail giants is expected to drive the market growth.

• The development of high-quality and cost-effective private-label grocery brands is expected to enable market expansion.

• The USA is expected to hold a major portion of the market share over the forecast period.

North America Grocery Market Growth

Amidst rising economic pressures, retailers and manufacturers are focusing on developing private-label brands. This is because they provide relatively higher profit margins as compared to branded products.

Online distribution channels are expected to personalise consumers’ grocery shopping experiences. Tech companies are expected to bolster their collaboration with online grocery retailers to drive the sales of health and wellness products. Moreover, the establishment of retail media networks is enabling third-party vendors to sell their products online, thereby propelling the market growth.

Generative AI applications such as ChatGPT are facilitating consumers’ purchase decisions by answering their questions related to recipe ingredients, low-calorie snacks, and lactose-free dairy products, among others.

The shift towards sustainability is prompting North American grocery stores to prioritise their ESG goals, as their electricity consumption could soar by an average of 40% by 2030. Organisations like Walmart have already taken major initiatives to prevent/minimise the release of 1 billion metric tons of GHG gases by 2030, which is leading to a reduction in global emissions. Furthermore, investments in plastic recycling solutions are expected to optimise companies’ waste management strategies and contribute to the market growth.

North America Grocery Industry Segmentation

North America 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

• United States

• Canada

North America Grocery Market Share

Based on product type, the market is divided into packaged food, unpackaged food, drinks, tobacco, and household products, among others. The demand for packaged food and drinks is expected to register significant growth in the forecast period, as food and beverage companies introduce innovative options for healthy snacking and use ingredients which improve cognitive functions.

Leading Companies in the North America 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 capacity expansion.

• 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

The expansion of leading grocery stores by key players is aiding the market expansion.

Key Highlights of the Report