Major Regions on Grocery Stores & Supermarkets Market

6 min read

Updated on 11/18/2024

Major Regions on Grocery Stores & Supermarkets Market include United States, Europe, China, Japan, India, Southeast Asia, etc.

The global grocery stores & supermarkets market size has grown significantly from 2018 to the projected 2028. In 2018, the market size was 6425.02 billion USD. By 2022, this had increased to 8089.55 billion USD. The forecast for 2028 will be a further rise to 10429.55 billion USD.

The Compound Annual Growth Rate (CAGR) for the period from 2022 to 2028 is 4.33%. This CAGR indicates a steady and consistent growth in the market size over these years, reflecting the expanding demand and development in the grocery stores & supermarkets sector worldwide.

Grocery Stores & Supermarkets

In 2018, the market size was 1605.54 billion USD. By 2023, the market size had increased to 1918.24 billion USD. The CAGR for the United States grocery stores & supermarkets market from 2018 to 2023 is approximately 2.3%.

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Item

Description

Strength

  • Downstream demand is strong
  • Mature supply chain
  • Good purchasing power

Weakness

  • Highly labor cost and the product price
  • Fierce competition

Opportunity

  • Industrial integration
  • Oversea market development

Threat

  • New entrants are hard to open the market
  • Regulations to restraint the industry

In 2018, the market size was 1286.94 billion USD. By 2023, the market size had increased to 1646.46 billion USD. The CAGR for the European grocery stores & supermarkets market from 2018 to 2023 is approximately 4.6%.

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Table Europe Grocery Stores & Supermarkets SWOT Analysis

Item

Description

Strength

Strong downstream demand

International supply company

Good industrial base

Weakness

Fierce competition

Environmentally strict requirements

The market size is uneven between Eastern Europe and Western Europe

Opportunity

Large demand

Developed agricultural market

Industrial integration

Threat

Different countries have different consumption concepts.

Regional economic development imbalance drives regional economic development.

In 2018, the market size was 1281.24 billion USD. By 2023, the market size had increased to 1908.20 billion USD. The CAGR for the Chinese grocery stores & supermarkets market from 2018 to 2023 is approximately 8.0%.

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Item

Description

Strength

  • Downstream demand is huge
  • Rapid economic development
  • Low labor cost

Weakness

  • Small companies
  • Market regulation tightens

Opportunity

  • The consumer market has huge potential
  • Government policy support

Threat

  • Low price competition
  • Fierce competition from international companies

In 2018, the market size was 384.46 billion USD. By 2023, the market size had increased to 465.10 billion USD. the CAGR for the Japanese grocery stores & supermarkets market from 2018 to 2023 is approximately 3.0%.

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Item

Description

Strength

  • Good purchasing power
  • Mature industrial chain
  • Strong downstream demand

Weakness

  • High labor cost
  • lack of resources

Opportunity

  • Working with emerging market companies
  • The market in East and Southeast Asian countries is growing due to economic growth

Threat

  • Fierce competition from overseas

In 2018, the market size was 453.89 billion USD. By 2023, the market size had increased to 692.26 billion USD. The CAGR for the Indian grocery stores & supermarkets market from 2018 to 2023 is approximately 9.0%.

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Item

Description

Strength

  • Strong downstream demand
  • Economic development
  • Low labor cost

Weakness

  • Small companies
  • Poor spending power

Opportunity

  • More and more large companies are entering the market
  • Large population base and downstream consumers

Threat

  • Insufficient infrastructure
  • Fierce competition from international companies

In 2018, the market size was 476.71 billion USD. By 2023, the market size had increased to 616.43 billion USD. The CAGR for the Southeast Asian grocery stores & supermarkets market from 2018 to 2023 is approximately 5.0%.

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Item

Description

Strength

  • Increasing downstream demand
  • Low labor cost

Weakness

  • Inconvenient transportation
  • Poor spending power
  • The logistics industry is underdeveloped

Opportunity

  • Development of the economy
  • Potential market opportunities

Threat

  • Infrastructure and demand do not match

In 2018, the market size was 537.03 billion USD. By 2023, the market size had increased to 733.50 billion USD. The CAGR for the Latin American grocery stores & supermarkets market from 2018 to 2023 is approximately 6.0%.

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Item

Description

Strength

  • Strong downstream demand
  • Low labor cost

Weakness

  • Poor spending power
  • The logistics industry is underdeveloped

Opportunity

  • Potential consumer market
  • Economic development

Threat

  • Fierce competition from international companies
  • Insufficient infrastructure

In 2018, the market size was 199.87 billion USD. By 2023, the market size had increased to 252.92 billion USD. The CAGR for the Middle East and African grocery stores & supermarkets market from 2018 to 2023 is approximately 4.0%.

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Item

Description

Strength

  • Huge downstream market
  • Low labor costs

Weakness

  • Poor spending power
  • Local enterprises are rarely small, depends on imports

Opportunity

  • Economy development
  • Great market potential

Threat

  • Insufficient spending power
  • Insufficient infrastructure

10 Global Grocery Stores & Supermarkets Revenue Market Share, Region Wise

In 2023, the global grocery stores & supermarkets market saw a shift in market share distribution across various regions. The United States held a market share of 22.56%, marking a slight decrease from its 24.99% share in 2018. Europe also experienced a decline, with its market share dropping to 19.36% from 20.03% in the same period.

China, on the other hand, saw an increase in its market share, rising to 22.44% from 19.94% in 2018. Japan’s market share was slightly down at 5.47%, compared to 5.98% in 2018. India showed growth, with its market share increasing to 8.14% from 7.06%.

Southeast Asia had a minor increase to 7.25% from 7.42%. Latin America’s market share decreased to 8.63% from 8.36%. The Middle East and Africa saw a decrease to 2.97% from 3.11%. Lastly, the “Others” category experienced a slight increase, with its market share rising to 3.18% from 3.10% in 2018. These changes reflect the dynamic nature of the global grocery market and the varying growth trajectories of different regions.

Overall, the United States and Europe have seen a slight decline in their market shares, while China and India have experienced growth, indicating a shift in the global grocery market dynamics. Southeast Asia’s market share has remained relatively stable with a slight increase, and Latin America has seen a minor decrease. The Middle East and Africa, along with the “Others” category, have also experienced minor changes in their market shares. These fluctuations reflect the evolving landscape of the global grocery and supermarket sector, with emerging markets like China and India gaining more prominence.

Table Revenue Market Share, Region Wise (2018-2023)

 

2018

2019

2020

2021

2022

2023

United States

24.99%

24.42%

23.93%

23.62%

23.18%

22.56%

Europe

20.03%

19.81%

19.85%

19.72%

19.57%

19.36%

China

19.94%

20.46%

21.11%

21.56%

21.89%

22.44%

Japan

5.98%

5.87%

5.76%

5.64%

5.53%

5.47%

India

7.06%

7.31%

7.48%

7.71%

7.89%

8.14%

Southeast Asia

7.42%

7.50%

7.27%

7.05%

7.22%

7.25%

Latin America

8.36%

8.41%

8.39%

8.50%

8.57%

8.63%

Middle East and Africa

3.11%

3.10%

3.07%

3.04%

3.00%

2.97%

Others

3.10%

3.13%

3.13%

3.15%

3.16%

3.18%

Total

100.00%

100.00%

100.00%

100.00%

100.00%

100.00%

Updated on 11/18/2024
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