The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

• Market Size and Growth Rate
  • The supermarkets market size has shown robust growth, expanding from $1634.55 billion in 2023 to $1769.68 billion in 2024, at a compound annual growth rate (CAGR) of 8.3%.
  • Factors contributing to this growth include changing consumer lifestyles, increased urbanization, rising disposable incomes, and a focus on convenience.

Future Projections and Drivers

• Forecasted Market Expansion
  • The market is projected to grow to $2405.78 billion by 2028, with a CAGR of 8.0%.
  • Key drivers include the integration of e-commerce and omnichannel retailing, health and wellness trends, sustainability and ethical consumerism, and increased demand for local and organic produce.

Major Trends Shaping the Future

• Technological Advancements
  • Introduction of smart shelving and inventory management systems.
  • Personalized marketing and loyalty programs.
  • Enhanced focus on fresh and local produce.
  • Adoption of contactless and cashless payment options.
  • Implementation of automated and robotic solutions in stores.

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Health-Conscious Consumers Propel Market Growth

• Rising Demand for Healthy Eating
  • Supermarkets are capitalizing on the increasing consumer preference for healthy eating by offering a variety of wholesome foods.
  • Healthy eating habits are being driven by the benefits of reducing chronic diseases such as diabetes, heart disease, and obesity.
  • According to the World Economic Forum, 50% of Americans reported trying to eat healthier in March 2023.
  • The 2022 Food and Health Survey indicated that 52% of Americans aged 18 to 80 followed a diet or healthy eating habit, up from 39% in 2021.

Leading Companies in the Supermarkets Market

• Major Players
  • Some of the leading companies in the market include Tesco PLC, Carrefour Group, J Sainsbury PLC, REWE Group, The Kroger Company, ALDI Nord Group, and Albertsons Companies Inc.
  • Other notable companies are Target Corporation, Costco Wholesale Corporation, ICA Supermarket, Real Canadian Superstore, ParknShop Limited, and Wm Morrison Supermarkets Limited.

Advanced Customer Experience Revolutionizing Market Presence

• Technological Innovations
  • Companies like Asda Stores Ltd. are leveraging technology to enhance customer experiences.
  • In June 2022, Asda launched Salesforce technology to provide a 360-degree view of its customers, enabling personalized and tailored shopping experiences.
  • Asda’s headless e-commerce architecture allows for a seamless online purchasing experience by separating front-end and back-end e-commerce applications.

Asda’s Strategic Acquisition

• Transforming the UK Retail Landscape
  • In August 2022, Asda acquired The Co-op for approximately $744 million, including 132 stores, 129 gas station forecourts, and three development sites.
  • This acquisition is set to transform the grocery store industry in the UK, with all employees from the acquired sites transitioning to Asda.

Market Segmentation

• Types and Ownership
  • The market is segmented by type into packaged foods and fresh foods.
  • By ownership, it is categorized into retail chains and independent retailers.
  • By application, it includes personal shoppers and business customers.

Regional Insights

• North America’s Dominance
  • North America was the largest region in the supermarkets market in 2023, driven by high consumer spending and advanced retail infrastructure.

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The Supermarkets Global Market Report 2024  provides an overview of the supermarkets market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The supermarkets market forecast analyzes supermarkets market size, supermarkets market share, leading competitor and their market positions.

The Table Of Content For The Supermarkets Market Include:
1. Supermarkets Market Executive Summary
2. Supermarkets Market Segments
3. Supermarkets Market Size And Supermarkets Market Growth Rate
4. Key Supermarkets Market Trends
5. Major Supermarkets Market Drivers
……
25. Key Mergers And Acquisitions In The Supermarkets Market
26. Top Supermarkets Companies
27. Supermarkets Market Opportunities And Strategies
28. Supermarkets Market, Conclusions And Recommendations
29. Appendix

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