Convenience Store Market Size

Statistics for the 2023 & 2024 Convenience Store market size, created by Mordor Intelligence™ Industry Reports. Convenience Store size report includes a market forecast to 2029 and historical overview. Get a sample of this industry size analysis as a free report PDF download.

Market Size of Convenience Store Industry

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Convenience Store Market Summary
Study Period 2020 - 2029
Base Year For Estimation 2023
Market Size (2024) USD 663.5 Billion
Market Size (2029) USD 892.95 Billion
CAGR (2024 - 2029) 6.12 %
Market Concentration Low

Major Players

Convenience Store Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Convenience Store Market Analysis

The Convenience Store Market size is estimated at USD 663.5 billion in 2024, and is expected to reach USD 892.95 billion by 2029, growing at a CAGR of 6.12% during the forecast period (2024-2029).

The global convenience store industry is expanding, meeting the demands of time-pressed customers who appreciate easy access to necessities and convenience. Convenience stores are ubiquitous across nearly all nations, providing diverse products and services. In many countries, convenience stores are an integral part of daily life. They allow people to grab snacks, beverages, basic groceries, and other daily necessities without visiting larger supermarkets. The extended operating hours of convenience stores make them accessible even during evenings and weekends when other stores may be closed. 

The global population and population density are continuously rising; existing retail convenience stores are rising to meet the increasing demand. A convenience store provides easy access to products from nearby stores, and with some stores opening 24 hours a day, customers can access their products when needed. One of the critical advantages of convenience stores is their strategic locations. They are often found in residential areas, near transportation hubs, or in commercial districts, facilitating their easy accessibility to a diverse clientele. In recent years, technology has also had a big impact on the convenience store industry. Some stores have implemented self-checkout systems, contactless payment options, and mobile apps for seamless shopping experiences.

Convenience Store Market - Growth, Trends, COVID-19 Impact and Forecast (2024-2029)