The Global Food Segment registered a Market volume of 187,172.72 Million Litres in 2021
The indicator recorded a historical growth (CAGR) of 2.39% between 2018 to 2021, and is expected to grow by...
GlobalData projects the indicator to grow at a CAGR of...
The food & grocery retail market includes the retail sales of all food products, both packaged and unpackaged, as well as beverages (including retail sales of all alcoholic and non-alcoholic beverages), tobacco, and household products.
Impact of COVID-19 on the global food segment
The value of the global food and groceries market grew in 2020, as a result of the COVID-19 pandemic, with increased demand driven by precautionary buying and a spending shift from foodservice channels.
The market is expected to follow a decelerating growth trajectory during the rest of the forecast period as the growth of demand is set to decelerate in line with the receding of uncertainty and the shift of consumption gains back to on-trade channels. The impact of COVID-19 on the food and grocery market during 2020 was evident through increased demand in supermarkets and other grocery retailers. In particular, the demand for food, as a basic necessity, was even stronger, with consumers’ fear of food shortages due to supply chain disruptions driving panic-buying in the first few weeks of the pandemic. Even throughout the rest of the year, demand remained high compared to previous years, with consumers precautionary buying more than what they need, stockpiling long shelf-life food and household products amid uncertainty and limited trips to stores. Moreover, that growth in consumption is also attributable to a shift in consumers’ spending as a result of lockdown measures, with food and grocery retailers benefitting from the collapse of demand in foodservice establishments, which remained closed for the longest part of the year. In detail, consumers substituted consumption in on-trade channels such as restaurants, cafés, and catering providers with consumption in off-trade channels, replacing eating-out with grocery consumption at home.
Overall, the global food and grocery retail market posted moderate growth in 2020 compared to other markets.
Switzerland
France
United States of America
United States of America
Brazil
South Korea
United Kingdom
Belgium
China
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