Market Size of Supermarkets Industry
| Study Period | 2020 - 2029 |
| Market Size (2024) | USD 0.98 Trillion |
| Market Size (2029) | USD 1.16 Trillion |
| CAGR (2024 - 2029) | 3.30 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Europe |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Supermarkets Market Analysis
The Supermarkets Market size is estimated at USD 0.98 trillion in 2024, and is expected to reach USD 1.16 trillion by 2029, growing at a CAGR of 3.30% during the forecast period (2024-2029).
A supermarket is a self-service store with many different kinds of food, drinks, and household items set up in other sections. A larger supermarket store has a more comprehensive selection than a grocery store. Globally, supermarkets are expanding by incorporating business intelligence into their systems. With a variety of customers in the market and a time-pressed customer, supermarkets are offering door-to-door delivery within a specific range, providing more utility to the customer. With continuously changing consumer expectations, supermarkets keep pace and find a competitive advantage over other stores. According to National Retail Federation, in 2021, Kroger Co. operated 2,874 stores in the United States. Its store formats include supermarkets, hypermarkets, department stores, convenience stores, and mall jewelry stores.
During COVID-19, consumers switched to shopping online. As a result, retailers tried to meet consumer demand by changing their business model and improving the digital experience within their businesses. People changed their behavior by moving away from frequent shoppers in small baskets to much bigger baskets more infrequently from one store, indicating a change in the time efficiency of buyers. With investment in actual online delivery capability, supermarkets looked out for vulnerable people, assigning their last mile capacity to people who wouldn't be online shoppers. Technology is always helping supermarkets automate their supply chain and make it easier for customers to place orders. This helps them make their business easier to run and lets them focus more on their customers. Supermarkets try to change how people think about them by focusing on price, deals, rewards, speed, convenience, and quality.
