The global food and grocery retail market is expected to reach US$12.24 trillion by 2020, according to a new report by Grand View Research, Inc., progressing at a CAGR of 6.9 per cent during the forecast period.
The global food & grocery retail industry has been growing steadily in recent years and Grand View expects that trend to continue. Growth in this industry is mainly being driven by countries in the Asia-Pacific region. Countries such as India, China, Indonesia have witnessed prominent growth due to an increase in the number of modern outlets.
Markets in some countries, especially in Western Europe, are mature and facing saturation.
Further key findings:
· The Canadian food and grocery retail market was valued at US$107.4 billion in 2015 and will register a CAGR of 3.0 per cent from 2011 to 2015;
· The global food and grocery retail market size was valued at USD 8.77 trillion in 2015.