china grocery market size

The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market. Vegan Food Market Outlook - 2026. This made it the fastest growing channel of them all even above the critically acclaimed Discounters. The country currently represents the world’s biggest online food delivery market. “China will not only retain its position as Asia’s largest grocery market by 2023, it will also overtake the US to become the world’s largest,” said IGD head of Asia Pacific Nick Miles. The online grocery market in China is forecast to reach 1 trillion yuan (US$147 billion) in three years, up from 400 billion yuan in 2019, as more consumers continue to … IBISWorld's statistic shows that as of 2020 the market size of the Supermarkets & Grocery Stores industry is $656.0bn an increase of 0.5% from 2019. Why buy this report? How are supermarkets being affected by the growth of other grocery channels? Figure 54: South Korea Pet Food Market Size, By Value (USD Million), 2014-2024F Grocery Retailing China market size data most recently updated in 2010. Revenue is expected to show an annual growth rate (CAGR 2020-2025) of 9.9%, resulting in a … Zhang Huan, a former kitchenware seller in the Covid-19-torn city of Wuhan, has found herself in the middle of one of the biggest new growth areas in …. Online grocery sales to hold 20% of market by 2025. The challenge of China market entry has become an increasingly important one of Western companies of all shapes and sizes. The increasing demand for home delivery and foodservice providers is expected to drive the market studied. Studies from international researcher IGD Asia have shown the country’s total market size will reach RMB11.0 trillion (US$1.8 trillion), more than Asia’s next four largest grocery markets (India, Japan, Indonesia and South Korea) combined. Mobile applications are the different types of software applications that are designed to run on various smartphones, tablets, and computer tablets. In 2019, the country consumed around 28 percent of the global meat supply, which accounts for 73 percent of the Asia-Pacific meat market value. China Business, Market & Economy News - BloombergQuint offers the latest news and headlines on Chinese economy, business and markets. Japan is China’s largest food export market. China has overtaken the United States to become the world's biggest market for grocery shopping, according to the latest report to underscore the country's growing global economic dominance. Posted on Sep 18 2020 6:02 AM "industryresearch.biz has published a new research report on "Global Online Grocery Market" to its database. The grocery sector in China was worth £607bn ($972bn) by … Reports also show that China candy market, including chocolate, candy, gum markets, has increased by over 63% from 2005 to 2010. There is a growing demand for market size research amongst both Western companies looking to access the market for the first time, and companies with an established presence in China looking to improve their performance or identify new market opportunities. According to the latest by IMARC Group, the global breakfast food market grew at a CAGR of around 4% during 2014-2019. IGD research has also found that China’s leading grocery retailers will grow at varying rates to 2023. “The market is expected to have a CAGR of 5.5 per cent, on par with Sri Lanka and Thailand, but slower than markets such as India, Vietnam, Indonesia and the Philippines, where the economy is growing faster. The global mobile application market size was valued at $106.27 billion in 2018, and projected to reach $407.31 billion by 2026, growing at a CAGR of 18.4% from 2019 to 2026. “However, there are huge changes taking place that suppliers need to consider. This contains 5 years of historical data and five-year forecasts.This Market size report gives an instant overview of the China Grocery Retailing Market China will overtake the US to become the world’s largest grocery market by 2023 in value terms, according to the latest forecasts from international researcher IGD Asia. Regional players such as NGS and Wumart will continue to focus on profitability. “Online and offline integration will drive online growth. Studies from international researcher IGD Asia have shown the country’s total market size will reach RMB11.0 trillion (US$1.8 trillion), more than Asia’s next four largest grocery markets (India, Japan, Indonesia and South Korea) combined. This report also covers key players of the market identified through their market share, product offerings. China will overtake the US to become the world’s largest retail market in 2019, according to a new report from the market research firm eMarketer. Overall food & grocery: growth rates 2013-2023. China’s role in the global meat market . The online grocery market in China is forecast to reach 1 trillion yuan (US$147 billion) in three years, up from 400 billion yuan in 2019, as more consumers continue to … China e-commerce market to be more than double the size of the US market in 2022 China’s online retail market is expected to hit $1.8tn in 2022, … China’s retail market is highly fragmented and composed of many small and medium-sized retailers, unlike in the United States, where big-box retailers dominate. Despite a difficult economic climate in Europe and the United States, China’s economy has continued to grow by double-digit rates over the last couple of years. China is the world’s top producer of agricultural products by value, with total production of about 4,078 billion RMB (US$536 billion). Meanwhile, retailers with nationwide networks such as Sun Art, Yonghui, Walmart, CRV and Carrefour will benefit from ongoing expansion, partnerships with e-commerce and tech companies, improved efficiencies, and investment in small formats. It is anticipated to register a CAGR of 7.9% during the forecast period. China leisure food market has reached a size of 40 billion RMB in 2009 and it still is developing at an annual rate of more than 10%. Figure 52: China Pet Food Market Share, By Type, By Value, 2014-2024F. Market research on the grocery retailers industry. China is now the world’s largest producer, consumer, and importer of meat. Figure 51: China Pet Food Market Size, By Value (USD Million), 2014-2024F . It exceeds the growth rate of the traditional catering industry. Food: category size and growth rates 2013-2023 . (Source: National Bureau of Statistics of China) Grocery Market Share Kantar. The global food and grocery retail market size was valued at USD 11.7 trillion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 5.0% from 2020 to 2027. HIMs online grocery market research asked UK shoppers which channels they had shopped at each week over a series of months. Even that 2 percent growth has been hard won. The online sales of food products in China are expected to grow rapidly in the coming years. The global functional foods market size was estimated at USD 161.49 billion in 2018. According to a new report by EMR titled, ‘China Online Grocery Market Report and Forecast 2020-2025’, In 2019, the market reached almost the value of USD 65.5 billion. About Grocery Market Share China East. China - Outlook to 2024; Market Size, Growth and Forecast Analytics (updated with COVID-19 Impact) is a broad level market review of Dried & Instant Noodles market in China. Supermarket chains play an important role in Hong Kong for taking care of citizens’ daily grocery needs. As of 2020, the growth rate of O2O food delivery market in China is more than 10%. China Consumption & Consumer Market Facts. Grocery retail sales in China are set to amount to CNY 11.4 trillion by 2017 from CNY 8.6tn in 2017 – more than India, Japan and Indonesia combined The market is expected to see a CAGR of 5.8% over the next five years, on par with Thailand but slower than markets such as India, Vietnam and Bangladesh, where the economy is growing faster Are supermarket operators moving into other grocery channels? Market size comprises sales through all retail channels including direct to consumer. Request Sample China online food delivery market was worth US$ 38.8 Billion in 2019. The country's grocery market reached a value of almost 1.3 trillion in 2017. Expansion through local partners will also remain a key route to market in China, so customer strategies must take into account the strong alliances forming between e-commerce players and bricks and mortar retailers. Figure 53: China Pet Food Market, By Point of Sale, By Value, 2014-2024F. The penetration rate is a function of the nature of your product. Food & Grocery Retail in China has complete details about market of industry, analysis and current trends. China Frozen Food Market - China Frozen Food Industry Size, Share, Demand, Analysis, Trends, Research And Forecast Report, 2014-2024 China frozen food market was valued at USD 14,018.8 million in the year 2016 and is expected to grow over the forecast period, driven primarily by an increase in demand for frozen food owing to growing urbanization that has led Chinese people to favour we To define, describe and forecast the market by type, market and key regions. China Pet Food Market Size, Share, Growth, Report Analysis & Segmentation by by Product, By Application, and By Region - Opportunities & Forecast, 2020-2027 Skip to content U.S. Office : … The report also assesses the key opportunities in the market and outlines the factors … The size of China’s online grocery market can be explained both by demographics and technological adoption rates. - China is the largest and the fastest growing market of the top 10 for food & grocery sales - Malaysia is the fastest growing market, supported by a rising middle class. Kantar’s Grocery Market Share data is derived from Worldpanel’s research covering the household grocery purchasing habits of 40,000 demographically representative urban households in China for their consumption at home. Due to the development of diversified consumption habits of Chinese people, the food delivery market in China will exceed 300 billion yuan in 2020. China’s community group grocery buying surges as vast market size offers economies of scale E-commerce giants such as JD and Alibaba are set to see significant growth from both online and offline channels and become the second- and third-largest grocery retailers in China respectively. The country’s total market size will reach CNY11.0tn (US$1.8tn), more than Asia’s next four largest grocery markets (India, Japan, Indonesia and South Korea) combined. The fish segment was the highest contributor to the market, with $101,526.2 million in 2019, and is estimated to reach $125,914.3 million by 2027, at a CAGR of 2.7% during the forecast period. As the fastest-growing channel, we forecast online to contribute up to 11 per cent of sales in 2023.”. As the total market size expands, traditional trade will still grow, but at a much slower pace over the next five years (forecast CAGR of 0.8 per cent), compared with the growth rate of modern trade (forecast CAGR of 8.5 per cent).”. All data is based on the value of items being purchased by these consumers. South China Morning Post provides news and analysis on Hong Kong, China and the rest of Asia. Community group buying of groceries surges in China as vast market size offers economies of scale, Banking, Trade & Commerce In Ancient Phoenicia, 5 Methods Hackers Use to Break Into Your Bank Account, A new survey reveals economists are more optimistic about the economic recovery, BRN FOCUS | MAXIMIZING MILITARY MEMBERS' SAVINGS, Benjamin Netanyahu invites Morocco’s King Mohammed VI to visit Israel, Coronavirus visa uncertainty turns foreign students against China, 5 weird and wonderful China stories that stood out in 2020, Russia launches criminal case against ally of Kremlin critic Alexei Navalny. The UK food & grocery market is forecast to reach £150.9bn in 2018, with forecast growth of 15.1% between 2018-2023. “Less than half of grocery sales in China currently go through traditional trade and as the market continues to mature, we expect traditional trade to continue losing share to modern trade. Mergers and acquisitions throughout 2017 and 2018 are consolidating the market, leading to challenges for suppliers – particularly with Brexit uncertainty mounting. Food & Grocery Retail in China Summary Food & Grocery Retail in China industry profile provides top-line qualitative and quantitative summary information including: market size (value 2013-17, and forecast to 2022). The global food and grocery retail market size is expected to reach USD 12.24 trillion by 2020, progressing at a CAGR of 6.9% during the forecast period. Food & grocery share as a percentage of total retail spending, 2013, 2018 and 2023. Category growth in food & grocery 2018-2023. China is set to overtake the US to become the world’s largest grocery market by 2023 in value terms, according to new forecasts. Today, two large supermarket chains, namely Wellcome and ParknShop have taken a lion’s share of the market, making it difficult for smaller scale businesses to come and compete. France; Ireland; Great Britain; Spain; China National The seafood market size was valued at $159,311.9 million in 2019, and is projected to reach $193,913.6 million by 2027, registering a CAGR of 2.5% from 2020 to 2027. Rising disposable income and people’s increasing inclination toward comfort are anticipated to drive the market over the forecast period. This market covers packaged snacks comprising crisps, snack nuts and other snacks. According to the report, retail spending in China will grow by 7.5 percent this year to hit over US$5.64 trillion. Online giants are reshaping China’s retail landscape with their strong logistical and technical capabilities, so suppliers should understand this new path of purchase and design meaningful ways to reach their shoppers. News Videos. As the global leader in grocery eCommerce, China will grow at a 31% CAGR over the next five years, taking market share from 3.8% to 11.2%. Online Grocery Market Size, Share 2020 - Global Industry Analysis by Future Growth, Business Plans, Manufacturers with Development Status, and Outlook by 2024 . The Chinese foodservice market is projected to reach USD 1144.23 billion by 2025, registering a CAGR of 7.3% during the forecast period. Meanwhile, IGD forecasts that hypermarkets will see their share of China’s total grocery retail market reduce from 22 per cent last year to 18 per cent in 2023, while the market share of supermarkets will remain steady, close to 20 per cent. China will overtake the US to become the world’s largest grocery market by 2023 in value terms, according to new forecasts. The global food and grocery retail market size was valued at USD 11.7 trillion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 5.0% from 2020 to 2027. Select a market to begin. The O2O food delivery market in China is 37 billion USD in size and continues to grow. Refine your market size by assuming a penetration rate for your category of product. China will overtake the US to become the world’s largest grocery market by 2023 in value terms, according to the latest forecasts from international researcher IGD Asia. The country’s total market size will reach CNY11.0tn (US$1.8tn), more than Asia’s next four largest grocery markets (India, Japan, Indonesia and South Korea) combined. What is the market size of the Supermarkets & Grocery Stores industry in the US? Amazon is locked and loaded to gain dominance in the rapidly growing online grocery market, predicted to grow to $100 million or 20% of the total grocery retail market in 2025. Over the next five years, the Chinese online grocery market will grow by the same size as the entire combined market of all ten countries in 2018. To strategically profile the key players and comprehensively analyze their development plan and strategies. South China Morning Post - Zhang Huan, a former kitchenware seller in the Covid-19-torn city of Wuhan, has found herself in the middle of one of the biggest new growth areas in … Community group buying of groceries surges in China as vast market size offers economies of scale - Flipboard South China Morning Post - Zhang Huan, a former kitchenware seller in the Covid-19-torn city of Wuhan, has found herself in the middle of one of the biggest new growth areas in … Community group buying of groceries surges in China as vast market size offers economies of scale - Flipboard In 2008, China was home to about 549,000 retail enterprises, each with an average of 15 employees. How to calculate China market size. “Convenience will be the fastest-growing physical store channel, driven by Alibaba and JD transforming traditional mom-and-pop stores, retailers opening smaller format stores and both local and overseas players expanding their networks through partnerships,” said Miles. Increased disposable income as a result of economic growth has fueled the spending on consumables China Malted Milk Food Market Report 2020 - Market Size, Share, Price, Trend and Forecast. Reports containing standardised and cross-comparable statistics including total market sizes, market … Already it … Over the seven-month period, the percentage of shoppers going online for their grocery shopping rose from 28% to 35%. China’s booming electric vehicle industry is headed for some tough price competition followed by a shakeout, according to experts. In the past decade, sales growth among large grocery chains in the mature markets of North America and Western Europe has been a pallid 2 percent (compared with 9.8 percent in Africa, 8.4 percent in Eastern Europe and South America, and 6.2 percent in Asia). The Vegan Food market size was valued at $14.2 billion in 2018 and is expected to reach $31.4 billion by 2026, registering a CAGR of 10.5% from 2019 to 2026. 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