Global Sector Series: Food & Grocery

Global Sector Series: Food & Grocery

Summary

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.

Scope

• Food inflation and disruptions to supply will slow down 2024 growth
• Online penetration is expected to grow in 2024, driven by continued investment in digitalization
• Retailers should broaden their own-brand ranges to cater to price-conscious consumers

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