Market research on the grocery retailers industry. The seafood market size was valued at $159,311.9 million in 2019, and is projected to reach $193,913.6 million by 2027, registering a CAGR of 2.5% from 2020 to 2027. China has become the world's largest market for food and grocery retail, surpassing the US, a study showed. The grocery sector in China was worth £607bn ($972bn) by … South China Morning Post provides news and analysis on Hong Kong, China and the rest of Asia. In the past decade, sales growth among large grocery chains in the mature markets of North America and Western Europe has been a pallid 2 percent (compared with 9.8 percent in Africa, 8.4 percent in Eastern Europe and South America, and 6.2 percent in Asia). Already it … Meanwhile, IGD forecasts that hypermarkets will see their share of China’s total grocery retail market reduce from 22 per cent last year to 18 per cent in 2023, while the market share of supermarkets will remain steady, close to 20 per cent. The global food and grocery retail market size is expected to reach USD 12.24 trillion by 2020, progressing at a CAGR of 6.9% during the forecast period. Today, two large supermarket chains, namely Wellcome and ParknShop have taken a lion’s share of the market, making it difficult for smaller scale businesses to come and compete. It is anticipated to register a CAGR of 7.9% during the forecast period. - China is the largest and the fastest growing market of the top 10 for food & grocery sales - Malaysia is the fastest growing market, supported by a rising middle class. Market Researc in China industry trends (2015-2020) Market Researc in China industry outlook (2020-2025) poll Average industry growth 2020-2025 : x.x lock Purchase this report or a membership to unlock the average company profit margin for this industry. “China will not only retain its position as Asia’s largest grocery market by 2023, it will also overtake the US to become the world’s largest,” said IGD head of Asia Pacific Nick Miles. News Videos. Japan is China’s largest food export market. The country’s total market size will reach CNY11.0tn (US$1.8tn), more than Asia’s next four largest grocery markets (India, Japan, Indonesia and South Korea) combined. Online grocery sales to hold 20% of market by 2025. To strategically profile the key players and comprehensively analyze their development plan and strategies. The global mobile application market size was valued at $106.27 billion in 2018, and projected to reach $407.31 billion by 2026, growing at a CAGR of 18.4% from 2019 to 2026. The penetration rate is a function of the nature of your product. “There’s also a huge RMB1.7 trillion ($245.57 trillion) growth opportunity in convenience and online in the next five years, which can be captured by understanding trends and retailer strategies and allocating resources accordingly. Mergers and acquisitions throughout 2017 and 2018 are consolidating the market, leading to challenges for suppliers – particularly with Brexit uncertainty mounting. The country’s total market size will reach CNY11.0tn (US$1.8tn), more than Asia’s next four largest grocery markets (India, Japan, Indonesia and South Korea) combined. Figure 54: South Korea Pet Food Market Size, By Value (USD Million), 2014-2024F (Source: National Bureau of Statistics of China) How to calculate China market size. Over the seven-month period, the percentage of shoppers going online for their grocery shopping rose from 28% to 35%. Food & Grocery Retail in China has complete details about market of industry, analysis and current trends. Amazon is locked and loaded to gain dominance in the rapidly growing online grocery market, predicted to grow to $100 million or 20% of the total grocery retail market in 2025. China’s strong economic growth, changing lifestyles and increasing penetration of internet … The online grocery market in China is forecast to reach 1 trillion yuan (US$147 billion) in three years, up from 400 billion yuan in 2019, as more consumers continue to … This report also covers key players of the market identified through their market share, product offerings. South China Morning Post - Zhang Huan, a former kitchenware seller in the Covid-19-torn city of Wuhan, has found herself in the middle of one of the biggest new growth areas in … Community group buying of groceries surges in China as vast market size offers economies of scale - Flipboard Regional players such as NGS and Wumart will continue to focus on profitability. The increasing demand for home delivery and foodservice providers is expected to drive the market studied. Market size comprises sales through all retail channels including direct to consumer. Category growth in food & grocery 2018-2023. Besides being the world’s second largest economy by nominal gross domestic product and the world’s largest economy by purchasing power parity in 2019, China will soon become the largest consumer market and one of the most innovative economies in the world in 2020. 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