The Food And Beverage Stores Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2011-2022) and extends its insights into a ten-year forecast period (2024-2033).
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According to The Business Research Company’s Food And Beverage Stores Global Market Report 2024, The food and beverage stores market size has grown rapidly in recent years. It will grow from $2501.89 billion in 2023 to $2776.14 billion in 2024 at a compound annual growth rate (CAGR) of 11.0%. The growth in the historic period can be attributed to economic conditions, consumer preferences, population growth, urbanization, technological advances.
The food and beverage stores market size is expected to see strong growth in the next few years. It will grow to $4053.35 billion in 2028 at a compound annual growth rate (CAGR) of 9.9%. The growth in the forecast period can be attributed to e-commerce and online grocery, health and wellness trends, private label and store brands, digital marketing and personalization. Major trends in the forecast period include sustainability and eco-friendly practices, virtual grocery shopping and augmented reality (AR), food safety and traceability, convenience and ready-to-eat foods.
The food and beverage stores markets expected to benefit from steady economic growth forecasted for many developed and developing countries. The International Monetary Fund (IMF) stated that global GDP growth was 3.3% in 2020 and 3.4% in 2021. Commodity price recovery following a historical decline is also expected to be a significant factor driving economic growth. The US economy is expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than developed markets in the forecast period. Greater economic growth is likely to drive public and private investments, joint ventures, and foreign direct investments in the end-user markets, thereby driving the market during the forecast period.
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The Food And Beverage Stores Market Covered In This Report Is Segmented –
1) By Type: Specialty Food Stores; Beer; Wine And Liquor Stores
2) By Ownership: Retail Chain; Independent Retailer
3) By Price Range: Premium; Mid-Range; Economy
The Food And Beverage Stores Market Report Table Of Contents Includes:
1. Executive Summary
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