The global food and grocery retail market size was valued at USD 8,770.58 Billion in 2015. The food & grocery retail industry has been growing steadily in recent years and the trend is likely to continue over the forecast period. Countries in the Asia-Pacific region are among the key growth stimulants for the overall market. India, China, and Indonesia have posted prominent growth over the past few years due to emergence of modern outlets, which are rapidly replacing traditional retail formats. The market in mature and facing saturation, particularly in Western Europe.

Supermarkets, hypermarkets, and specialist retailers are important industry participants. While the end consumers are the key buyers, food and grocery product manufacturers, farmers, and agricultural cooperatives are considered as key suppliers of food and grocery products.

Lack of switching costs and limitations in product differentiation lead to buyer mobility, which forces larger retailers to maintain attractive pricing schemes. With the dynamics of the industry, there is a constant strong pressure on players to adapt to fast-changing consumer needs. To sustain the competition, market players should be prudent to position the desirable product at a price suitable for customers and manufacturers.

Ever-rising population across the globe is one of the primary factors stoking the growth of the market. Increasing disposable income is augmenting the affordability of premium food and grocery products, which in turn is working in favor of the overall market. Thanks to changing tastes and growing health consciousness, manufacturers are experimenting with cultivation techniques and ingredients and can expect positive feedback for the same.

Rising awareness regarding health benefits of individual food and grocery product and increasing health consciousness are encouraging consumers to ensure balanced diet. This factor is also anticipated to bolster the growth of the market. Burgeoning prominence of online grocery retail channels is estimated to provide a fillip to the market. Home delivery of food and grocery products by shopping through online channels is very helpful especially for working professionals.

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Further key findings from the report suggest:

• The global food and grocery retail market size was valued at USD 8.77 trillion in 2015

• The market in India is estimated to tread along a healthy growth track during the forecast period, thanks to rising urbanization and increasing disposable income of the populace

• The Canadian food and grocery retail market was valued at USD 107.4 billion in 2015, and will register a CAGR of 3.0% from 2011 to 2015

• Some of the prominent companies operating in the market are Bharti Enterprises; Carrefour S.A.; Costco Wholesale Corporation; Future Retail Limited; Koninklijke Ahold; The Kroger Co; and Wal-Mart Stores, Inc.

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