Grocery Stores & Supermarkets Industry Profile

Report Page Length: 10-12
Last Quarterly Update: 8/18/2020
SIC Codes: 5411
NAICS Codes: 44511
Chapters Include:
Industry Overview Trends & Challenges Industry Forecast
Quarterly Industry Update Call Prep Questions Website & Media Links
Business Challenges Financial Information Glossary & Acronyms
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Excerpt from Grocery Stores & Supermarkets Industry Profile

Changes in the way consumers eat and shop for food are roiling the crowded global grocery market. Disruptors include online competitors, the rise of discounters, and changing consumer perceptions of value. Most recently, stay-at-home orders imposed in response to the global coronavirus pandemic have greatly accelerated growth in online grocery shopping, at least temporarily. Traditional grocery chains now compete for market share with a slew of domestic and foreign competitors, including warehouse clubs and discounters, convenience, drug, and dollar stores, internet retailers, and meal-kit delivery companies. Cross-border forays by grocery retailers looking for growth beyond mature home markets continue to reshape the grocery sector.

The global grocery retail market is projected to increase 24% between 2019 and 2024, from $6.7 trillion to $8.3 trillion, according to research firm IDG. The global landscape is dominated by US and European firms, although Australia also boasts major chains. Unlike other industries, grocery retail is still largely led by local players in most countries. The top 15 retailers account for more than 30% of world supermarket sales. In the US, sales by the 20 largest food retailers accounted for two-thirds of grocery store sales in 2016, according to the USDA. Asia is projected to account for nearly 50% of all new global grocery retail sales generated between 2019 and 2024.

Companies in this industry operate retail stores that offer a general selection of food products. Discount stores and warehouse clubs, which are leading ...

 
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