Key Highlights
- The global grocery retail market was valued at approximately $11.4 trillion in 2022
- The United States accounts for roughly 25% of the global grocery retail sales
- Online grocery shopping in the US increased by over 54% during 2020-2021
- Approximately 70% of grocery sales in the US are still made in physical stores as of 2023
- The average grocery store size in the US is around 41,000 square feet
- Walmart leads the global grocery market with a 10.5% share of the worldwide grocery sales
- The number of grocery stores in the US exceeded 38,000 in 2023
- Organic food sales in the US reached $60.9 billion in 2022, representing over 11% growth from the previous year
- Millennials make up the largest demographic group of grocery shoppers, accounting for 30% of sales
- The use of mobile apps for grocery shopping increased by 85% between 2020 and 2022
- The average household in the US spends about $4,500 annually on groceries
- Private label products constitute approximately 20-25% of total grocery sales in North America
- The adoption of cashierless checkout technology in grocery stores increased by 78% in 2023
The grocery retail industry is experiencing a seismic shift, with a $11.4 trillion global market, a rapidly expanding online presence, and innovative technologies transforming how consumers shop and brands compete.
Consumer Demographics and Preferences
- Approximately 70% of grocery sales in the US are still made in physical stores as of 2023
- Millennials make up the largest demographic group of grocery shoppers, accounting for 30% of sales
- Approximately 60% of grocery shoppers prefer shopping in small neighborhood stores over supermarkets
- Approximately 40% of U.S. consumers shop for groceries at discount stores
- Approximately 66% of consumers prefer to receive personalized coupons and promotions based on their shopping habits
Consumer Demographics and Preferences Interpretation
Digital Transformation and Technology Adoption
- The use of mobile apps for grocery shopping increased by 85% between 2020 and 2022
- The adoption of cashierless checkout technology in grocery stores increased by 78% in 2023
- The use of self-checkout systems in grocery stores increased by 65% between 2020 and 2023
- The average checkout time at grocery stores has decreased by 20% over the last five years due to technology improvements
- The number of grocery stores adopting online ordering systems increased by 60% from 2020 to 2023
Digital Transformation and Technology Adoption Interpretation
Market Size and Valuation
- The global grocery retail market was valued at approximately $11.4 trillion in 2022
- The United States accounts for roughly 25% of the global grocery retail sales
- Online grocery shopping in the US increased by over 54% during 2020-2021
- The average grocery store size in the US is around 41,000 square feet
- Walmart leads the global grocery market with a 10.5% share of the worldwide grocery sales
- The number of grocery stores in the US exceeded 38,000 in 2023
- Organic food sales in the US reached $60.9 billion in 2022, representing over 11% growth from the previous year
- The average household in the US spends about $4,500 annually on groceries
- Private label products constitute approximately 20-25% of total grocery sales in North America
- In Europe, online grocery sales reached €50 billion in 2022, accounting for about 9% of total grocery sales
- The grocery delivery market worldwide is projected to grow at a CAGR of 12.3% from 2022 to 2030
- The number of grocery store employees in the US was over 2.6 million in 2023
- The percentage of grocery sales conducted via e-commerce in China reached 15% in 2022, baseline for rapid growth
- The global frozen foods market was valued at $291 billion in 2022, with a CAGR of 4.2% expected until 2030
- The COVID-19 pandemic led to a 35% increase in online grocery sales in the US between 2019 and 2021
- The global organic food market is projected to reach $1.9 trillion by 2027, growing at a CAGR of 8%
Market Size and Valuation Interpretation
Operational and Market Dynamics
- The average price of a gallon of milk in the US was $3.55 in 2023, up from $3.33 in 2022
- The average number of SKUs per grocery store is approximately 40,000
- In the US, about 55% of grocery stores have adopted sustainability initiatives, including waste reduction and eco-friendly packaging, as of 2023
- The average grocery store waste reduction rate improved by 15% in 2022 due to better inventory management and technology
Operational and Market Dynamics Interpretation
Product Trends and Market Segments
- The rise of plant-based foods has resulted in a 10% annual growth rate in plant-based product sales in grocery aisles worldwide
Product Trends and Market Segments Interpretation
Sources & References
- Reference 1GRANDVIEWRESEARCHResearch Publication(2024)Visit source
- Reference 2REPORTLINKERResearch Publication(2024)Visit source
- Reference 3CONSUMER-EXPENDITURE-SURVEYResearch Publication(2024)Visit source
- Reference 4BLSResearch Publication(2024)Visit source
- Reference 5EUROCOMMERCEResearch Publication(2024)Visit source
- Reference 6GREENRETAILTECHResearch Publication(2024)Visit source
- Reference 7FUTUREFOODResearch Publication(2024)Visit source
- Reference 8FORBESResearch Publication(2024)Visit source
- Reference 9PCWORLDResearch Publication(2024)Visit source
- Reference 10TECHCRUNCHResearch Publication(2024)Visit source
- Reference 11NIELSENResearch Publication(2024)Visit source
- Reference 12CHINAECOMMERCEResearch Publication(2024)Visit source
- Reference 13RETAILDIVEResearch Publication(2024)Visit source
- Reference 14STATISTAResearch Publication(2024)Visit source
- Reference 15WASTELESSResearch Publication(2024)Visit source