Based on distribution channel, global food retail market can be divided into convenience food stores, hypermarkets and supermarkets, specialists and independent retailers, and others.
The global food retail industry include various types of food products such as cereals, meat, packed foods, organic food items, breads, vegetables and fruits, seafood, dairy products, including ice creams, milk items and others and various other household food items. The global food retailmarkets incorporate the retail sales of variety of food products, both packaged and unpackaged, along with retail sales of alcoholic beverages and non-alcoholic beverages.
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Some of the major factors that are driving the growth of global food retail market include growing consumer preference for private label brands, growing supermarket shopping culture and increasing consumers spending on food products.
Global food retail market is tremendously contributing in the growth of several other industries such as food packaging and food processing industries. These industries are responsible for creating jobs and generating employment at a large scale. Large food retailers usually offer their own brands along with well established brands.
The demand for high quality food packaging and food retailing services, easy to use products, freshness and food safety assurance are some of the trends that can be seen in the global food retail market.
Geographically, Asia Pacific dominated the global food retail market in 2014; it is then followed by Europe. Growth of food retail market in Asia Pacific region is attributed to growing consumer awareness, nuclear families, increasing per capita income and increasing western culture. China and India are the most populous countries of Asia Pacific region, small and local retailers are dominating the food retail market in these countries.
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Some of the major competitors for the global food retail market include Costco Wholesale Corporation, Wal-Mart Stores Inc., AEON CO., LTD., The Kroger Company, Carrefour SA, Seven & i Holdings Co., Ltd., Groupe Auchan, Metro AG.
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