The global food and grocery retail market is projected to reach USD 14.78 trillion by 2030, growing at a compound annual growth rate (CAGR) of 3.2% from 2024 to 2030, according to a new report by Grand View Research, Inc. Several factors are contributing to the market's growth, including a shift in consumer spending from food services to food retail, which was prompted by the lockdowns during the COVID-19 pandemic. Additionally, the growing use of online platforms for grocery shopping and the consumer polarization driven by income changes have also played a significant role in the market expansion.

The COVID-19 pandemic triggered remarkable changes in the food and beverage sector. With many restaurants closing and others limiting their services to takeaway or delivery only, most meals were consumed at home, particularly in areas with stringent lockdowns. This led to sudden and unexpected changes in grocery sales, and the shifts in consumer preferences were evident, as seen in empty supermarket shelves. As a result of this situation, there was a notable rise in the purchase of comfort foods, including confectionery, desserts, and salty snacks, as consumers turned to nostalgic and indulgent items. Moreover, many customers opted for private label products and store brands over national brands, leading to further shifts in the market dynamics.

The beverage market is expected to emerge as the fastest-growing segment during the forecast period. This growth is largely driven by the introduction of new non-alcoholic products, such as cocktail mixers, seltzers, non-alcoholic beer, and energy drinks. These new offerings, combined with the rise of online sales of alcoholic beverages in developing economies, are expected to significantly boost the segment's growth.

The online sales channel is anticipated to grow at the fastest rate during the forecast period. Digital grocery shopping has gained popularity even among baby boomers, and the integration of online platforms with traditional brick-and-mortar stores is also becoming more common. This trend is expected to further drive the market, particularly in the Asia Pacific region, where it is anticipated to maintain its dominance throughout the forecast period. The region benefits from a growing number of working individuals, rising disposable incomes, and easy access to supermarkets and grocery stores.

Gather more insights about the market drivers, restrains and growth of the Food & Grocery Retail Market

Food & Grocery Retail Market Report Highlights:

• In 2023, the food cupboard segment held the largest market share due to the increased consumption of food at home.

• The supermarkets and hypermarkets segment was the dominant distribution channel in 2023, driven by the extensive network of stores and the wide variety of products available in these outlets.

• The increasing number of internet users and the widespread use of mobile apps in the Asia Pacific region are expected to further boost online sales of food and groceries.

• The global market is fragmented, with both global and regional players actively competing in the space.

Browse through Grand View Research's Consumer F&B Industry Research Reports.

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• Functional Bakery Ingredients Market: The global functional bakery ingredients market size was estimated at USD 1.54 billion in 2024 and is anticipated to grow at a CAGR of 6.7% from 2025 to 2030.

Food & Grocery Retail Market Segmentation

Grand View Research has segmented the global food & grocery retail market on the basis of product, distribution channel, and region:

Food & Grocery Retail Product Outlook (Revenue, USD Billion, 2018 - 2030)

• Fresh Food

• Frozen Food

• Food Cupboard

• Beverages

• Cleaning & Household

• Others

Food & Grocery Retail Distribution Channel Outlook (Revenue, USD Billion, 2018 - 2030)

• Supermarkets & Hypermarkets

• Convenience Stores, Departmental Stores & Clubs

• Online

Food & Grocery Retail Regional Outlook (Revenue, USD Billion, 2018 - 2030)

• North America

o U.S.

o Canada

• Europe

o Germany

o U.K.

o France

• Asia Pacific

o China

o Japan

o India

• Central & South America

o Brazil

• Middle East & Africa

o South Africa

List of Key Players of Food & Grocery Retail Market

• Walmart

• Costco Wholesale Corp.

• 7-Eleven, Inc.

• Amazon.com, Inc.

• The Kroger Co.

• Target Brands, Inc.

• ALDI

• AEON Co Ltd.

• Carrefour CA

• Schwarz Gruppe

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