Grocery retail market analysis
In reference to growing fashion of hypermarkets and supermarkets, the retailers have started using big data to understand the needs of consumers by providing answers to their questions.
Ever-rising population across the globe is one of the primary factors stoking the growth of the market. Grocery stores hold a Supermarkets and grocers continue to tailor their assortments to include ethnic, organic, natural and local foods to meet changing consumer needs.
Woolworths and Coles dominate in the Australian market.
How much is the supermarket industry worth
Packaged foods are poised to gain popularity over the coming years, owing to widening base of working population. Pre-cut vegetables, fruits, and pre-seasoned meats will continue to find new shelf space at the retail grocery level. Profiles provide better understanding of competition as well as the demands of the market. Countries such as India, China, Indonesia have witnessed prominent growth due to increase in number of modern outlets. Food Marketing Institute 8. It is also relevant to consider what the proportion of consumption is between processed and packaged foods compared with fresh foods, with one concern being that supermarkets encourage consumers to spend more of their total food budget on processed foods. Progressive Grocer Magazine 4. Thanks to changing tastes and growing health consciousness, manufacturers are experimenting with cultivation techniques and ingredients and can expect positive feedback for the same. Burgeoning prominence of online grocery retail channels is estimated to provide a fillip to the market. At these foods retail markets, food products and items are available in large quantities and at cheaper prices. Report Scope. IBIS World industry research report Despite the sensitivity of this issue, there does not appear significant barriers to accessing fresh, local foods and products in Australia. However, rising health consciousness is translating into a greater demand for nutritional quality in food products. Department of Agriculture 7. This factor is also anticipated to bolster the growth of the market.
This decline may be related to the growth in low cost food retailer, Aldi, and changes in consumer shopping practices. The market in India is slated to witness noteworthy growth over the forecast period. Rise in global population has a pivotal role to play in the development of the market.
It is also notable that supermarkets here and around the world are expanding their market power beyond groceries into financial services, petrol, hotels and liquor outlets, and land owning and rental. The market in Canada has also exhibited tepid growth over the past few years.
based on 59 review