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

Top 5 Countries in Retail Food by Market Size (2021, $ Billion)

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

The Food segment reached a value of $7,489 billion globally in 2021
China is the market leader with a share of $2,487 billion in 2021
The top 5 countries in the food segment have a combined share of 63%

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 which include Bakery and Cereals, Confectionary, Cooking ingredients, Dairy & Soy food, Desserts, Dried Food, Fish & Seafood, Fruit & Vegetables, Ice Cream, Meat, and Meat substitutes among others.

The Food segment reached a value of $7,489 billion globally in 2021, witnessing a significant increase of 8% from the previous year. This was mainly on account of growth in the retail product categories as the world saw a recovery in the overall demand post-pandemic COVID-19 as both brick & mortar and online businesses resumed their operations after being under restrictions for a period of almost two years.

China is the market leader with a share of $2,487 billion in 2021 accounting for 33% of the global market size in the Food segment. Chinese food is one of the most widely consumed cuisines in the whole world.

China is followed by the US with a share of $1,003 billion, India with $573 billion, Japan with $410 billion, and France with $250 billion making them the top five countries in the Food segment with a combined share of 63%.

The demand for retail food is ever-growing with more and more people finding themselves with little time to cook food for themselves and their families, especially in economies like India and China where the working population is at an all-time high and expected to grow over the next few decades. Furthermore, with the recovery from the COVID-19 pandemic and the subsequent restrictions, the general public has become more spendthrift and is willing to spend more on different kinds of food making the Food segment a lucrative one in the Food & Grocery industry.

The major retail Food players which have a strong dominance in the global markets include Mondelez International, Nestle, Kellogg Company, and Unilever.

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