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Explore the latest trends and actionable insights on the Food market to inform business strategy and pinpoint opportunities and risks.

Market Size of Retail Food in North America (2017-2021, $ Billion)

Industry: Food and Drinks Specialists
Current: Market Sizing & Shares

The Food segment in North America is valued at $1,236 billion in 2021
North America contributes to 16% of the global market size in the Food segment
North America has seen a CAGR of 4.5% in the Food segment for the period 2017-2021

The Food & Grocery segment is among the highest-selling product categories in the retail industry. It is then divided into Food, Drinks, Tobacco, and Household products, out of which food accounts for 73%. The Food segment is categorized into different products: Bakery and Cereals, Confectionary, Cooking ingredients, Dairy & Soy food, Desserts, Dried Food, Fish & Seafood, Fruit & Vegetables, Ice Cream, Meat, and Meat substitutes among others.

North America contributes to 16% of the global market size in the Food segment and is among the regions which have an influence on the food industry globally, especially the US which makes up for 81% of the North America market size and is the second largest market in the Food segment globally.

The food from this region, like Tacos, Fried chicken, Brownies, and Burgers, is a favorite for many and its popularity is ever-growing. Many more dishes such as Nachos, Cheese and Mac, and Tortillas from North America are widening their reach and are finding a lot of takers around the globe.

The Food segment in North America is valued at $1,236 billion in 2021, witnessing an increase of 1% from the previous year. Though the growth isn’t significant, it is promising for the future as the world saw a recovery in the overall demand post-pandemic COVID-19, especially in the retail sector, as both brick & mortar and online businesses resumed their operations after being under restrictions for almost two years.

The North American region has seen a compound annual growth rate of 4.5% in the Food segment for the period 2017-2021 as consumer spending on food products has increased and is expected to grow in the near future as well on the back of the recovery from the pandemic. Also, the demand for retail food is constantly growing with people getting busy with their work and not finding time to cook food for themselves and their families.

The major retail Food players which have a strong dominance in the North American markets include Hershey’s, Heinz Ketchup, Kellogg’s, Frito-Lay, Oreos, Kraft Foods, and M&M’s among others.

Explore the latest trends and actionable insights on the Food market to inform business strategy and pinpoint opportunities and risks. Explore the latest trends and actionable insights on the Food market to inform business strategy and pinpoint opportunities and risks. Visit Report Store