Food and Non Food Retail Market Scope
Food and Non-food retailing in the last decade has emerged as one of the sunrise industries globally. Nowadays, the consumer armed with credit cards, higher-income exposure to the shopping culture of the west and a desire to improve his standard of living. Expanding retail outlets, growing incomes, and changing consumer preferences in developing countries call for an examination of determinants of consumer retail food and non-food outlet choice. This is projected the growth of the food and non-food retail market in the forecast period.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Walmart (United States), Costco Wholesale Corporation (United States), The Kroger Co. (United States), Walgreens Boots Alliance, Inc. (United States), Tescoplc.com (United Kingdom), Carrefour S.A.(France), Amazon.com, Inc. (United States), Metro AG (Germany), The Home Depot Inc. (United States) and Target Corporation (United States) |
CAGR | % |
Food and Non Food Retail is highly competitive, with several key players dominating the industry. The market players are focused on developing a variety of features and benefits to meet the needs and preferences of consumers. Thus, constantly introducing new innovation in processing to meet the changing needs and preferences of consumers. The companies are also planning strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge.The Vendors having a strong hold in the market are Walmart, Costco Wholesale Corporation, The Kroger Co., and Walgreens Boots Alliance, Inc.. Research Analyst at AMA estimates that United States Vendors will contribute to the maximum growth of Global Food and Non Food Retail market throughout the predicted period.
Walmart (United States), Costco Wholesale Corporation (United States), The Kroger Co. (United States), Walgreens Boots Alliance, Inc. (United States), Tescoplc.com (United Kingdom), Carrefour S.A.(France), Amazon.com, Inc. (United States), Metro AG (Germany), The Home Depot Inc. (United States) and Target Corporation (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are CVS Health (United States), Express (United States), Best Buy (United States) and Co-operative Group Limited (United Kingdom).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Food and Non Food Retail market by Type and Region with country level break-up.
On the basis of geography, the market of Food and Non Food Retail has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2022.
Market Leaders and their expansionary development strategies
In July 2023, Foodtech decacorn Swiggy has acquired FMCG retail distribution company LYNK Logistics Ltd to enter the food and grocery retail market. With this acquisition, Swiggy enters India’s food and grocery retail market, which is amongst the world’s largest and fastest growing, estimated to be more than USD 570 Bn in size and expected to grow at 8% year-on-year,” the company said in a statement.
In November 2023, UK's Deliveroo sees expansion into non-food driving growth. By expanding into the new categories, Deliveroo, which has 162,000 restaurants and 20,000 grocery sites on its platform and operates a network of delivery riders.
FDA Regulation: Food labeling is required for most prepared foods, such as bread, cereals, canned and frozen foods, snacks, desserts, drinks, etc. Nutrition labeling for raw produce (fruits and vegetables) and fish is voluntary.
Influencing Trend:
Increasing Online Retail Shopping and Rising Demand for High-Quality Products
Market Growth Drivers:
Increasing Customer Preference towards Private Label Brands and Increasing Supermarket Shopping Culture
Challenges:
Virtually all retailers are concerned about the impact of interchange fees, cost of health care and upward wage pressures on their bottom lines.
Restraints:
Presence of Unorganized Players and Intense Competition in the Market
Opportunities:
Investment in Infrastructure by Government in Developing Economies
Key Target Audience
Wholesalers, Distributors, and Retailers of Food and Non-Food, Service Providers, Food Industry, Industry Associations, Research Firms, Regulatory Bodies and Governmental Bodies