PUBLISHER: GlobalData | PRODUCT CODE: 1483000
PUBLISHER: GlobalData | PRODUCT CODE: 1483000
This report provides an overview of the Global Food & Grocery Retailing which includes analysis, drivers, inhibitors, market forecasts, brands and trends in the Global Food & Grocery Market 2023-2028
The global food & grocery sector is forecast to experience a slowdown in 2024, with growth projected at 3.9% versus 4.3% in 2023, attributed to persistent food inflation and macroeconomic challenges. Online penetration is expected to rise by 0.3ppts to 6.7% in 2024, with 9.0% growth in the global online food & grocery market to reach $755.0 billion, driven by ongoing investments in retailers' digital strategies. Consumers prioritize value for money, quality, and price when making food & grocery purchases, as 79.9%, 78.4%, and 77.5% of consumers across key markets stated these factors as influential drivers while making purchases.