Global Food And Beverage Stores Market Size, Forecasts, And Opportunities
Learn about the global food and beverage stores market through The Business Research Company, which provides information on food and beverage stores market size, food and beverage stores market drivers and restraints, food and beverage stores market players, the COVID-19 impact on the food and beverage stores market, and more.
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The global food and beverage stores market size is expected to grow from $1707.29 billion in 2020 to $1872.9 billion in 2021 at a compound annual growth rate (CAGR) of 9.7%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $2472.93 billion in 2025 at a CAGR of 7%.
Greater economic growth is likely to drive public and private investments, joint ventures, foreign direct investments in the end-user markets, thereby driving the market during forecast period.
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The food and beverage stores market consists of sales of food and beverages and related services by entities (organizations, sole traders and partnerships) that retail food and beverages merchandise, from fixed point-of-sale locations. This industry includes grocery stores, specialty food stores, convenience stores and beer, wine and liquor stores.
Global food and beverage stores market segments include:
By Type: Specialty Food Stores, Beer, Wine & Liquor Stores
By Ownership: Retail Chain, Independent Retailer
By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific was the largest region in the global food and beverage store market, accounting for 63% of the market in 2020.
Self-checkout technology is being widely used in department stores, specialty stores, and small convenience stores to automate payments. Self-checkout systems are integrated with a mobile software application to collect purchase data and to automatically receive payment. They make use of Near Field Communication (NFC) or quick response code (QR code), which is a machine-readable optical label. This eliminates the need for checkouts, queues, loading and unloading and employees to operate the checkout counter. This type of automation reduces operational costs and saves the time spent on manual billing.
TBRC’s food and beverage retail market report covers:
Major Market Players: Philip Morris International Inc, PepsiCo, Nestle SA, JBS S.A, Anheuser Busch InBev.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Time Series: Five years historic (2015-20) and ten years forecast (2021-2025-2030)
The Food And Beverage Stores Global Market Report 2021: COVID-19 Impact and Recovery to 2030 is one of a series of new reports from The Business Research Company that provides food and beverage stores market overviews, analyzes and forecasts market size, share, food and beverage stores market players, food and beverage stores market segments and geographies, leading competitor revenues, profiles and market shares.
TBRC’s food and beverage stores market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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