New York, June 21, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Supermarkets Global Market Report 2023" - https://www.reportlinker.com/p06464090/?utm_source=GNW
The global supermarkets market is expected to grow from $1,518.89 billion in 2022 to $1,658.77 billion in 2023 at a compound annual growth rate (CAGR) of 9.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The supermarkets market is expected to reach $2,228.92 billion in 2027 at a CAGR of 7.7%.
The supermarkets market includes revenues earned by entities by providing self-service shopping, mechanized groceries selling, offering delivery services.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
A supermarket can be defined as a large self-service retail store that has an area under 20,000 square feet and offers a diverse range of food and non-food products organized into various sections for customers to purchase. It is designed to provide a convenient and efficient shopping experience, with different passages and areas to showcase and store products.
North America was the largest region in the supermarkets market in 2022. The regions covered in supermarket report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of foods sold in supermarkets are packaged foods and fresh foods.Packaged food refers to an enclosed food that includes processed foods such as preserved, canned, frozen, and various forms of meat and vegetables.
The ownership types includes are retail chain and independent retailer, which are further utlized by personal shoppers and business customers.
The rising consumer preference for healthy eating is expected to drive the growth of the supermarkets market going forward.Healthy eating refers to adopting a diet that is balanced and consists of a variety of wholesome foods and beverages, and healthy eating habits have gained popularity due to their many benefits, including reducing the risk of chronic diseases such as diabetes, heart disease, and obesity.
Supermarkets offer healthy food options, including fresh fruits and vegetables, lean proteins, whole grains, low-fat dairy, and more organic, non-GMO, and sustainably sourced products, and place these items prominently on the shelves to promote healthy habits and satisfy consumers’ demands.For instance, in March 2023, according to the World Economic Forum, a Switzerland-based international non-governmental organization, 50% of Americans claimed to have started trying to eat healthier.
Furthermore, in May 2022, according to the 2022 Food and Health Survey conducted by the International Food Information Council, a US-based non-profit organization, among 1,005 Americans ages 18 to 80, 52% reported following a diet or healthy eating habit, a considerable rise from 39% in 2021. Therefore, the rising consumer preference for healthy eating is driving the growth of the supermarkets market.
The technological advancements have emerged as a key trend gaining popularity in the supermarkets market.Major companies operating in the supermarkets market are frequently focusing on innovating new technologies to sustain their position in the market.
For instance, in June 2022, Asda Stores Ltd., a UK-based supermarket chain, launched Salesforce technology, to provide a 360-degree view of its customers, providing personalized and tailored experiences. It would create a cloud-first infrastructure to give its customers one linked and uniform experience across every channel and device. The development of Asda’s headless e-commerce architecture, which enables the retailer to separate its front-end and back-end e-commerce apps, will allow it to offer cutting-edge online purchasing experiences.
In August 2022, Asda Stores Ltd., a UK-based supermarket chain, acquired The Co-op for approximately $744 million. With this acquisition, Asda will acquire 132 stores—129 gas station forecourts and three development sites—with 2,300 employees. All of the Co-op’s employees from these sites will move to Asda. Asda plans to change the grocery store industry with its most recent significant acquisition. The Co-op is a UK-based network of supermarkets and convenience shops.
The countries covered in the supermarkets market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The supermarkets market research report is one of a series of new reports that provides supermarkets market statistics, including supermarkets industry global market size, regional shares, competitors with a supermarkets market share, detailed supermarkets market segments, market trends and opportunities, and any further data you may need to thrive in the supermarkets industry. This supermarkets market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06464090/?utm_source=GNW
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