Market Size of Modern Trade Retail Industry
| Study Period | 2020-2029 |
| Market Size (2024) | USD 5.30 Trillion |
| Market Size (2029) | USD 6.54 Trillion |
| CAGR (2024 - 2029) | 4.29 % |
| Fastest Growing Market | Europe |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Modern Trade Retail Market Analysis
The Modern Trade Retail Market size is estimated at USD 5.30 trillion in 2024, and is expected to reach USD 6.54 trillion by 2029, growing at a CAGR of 4.29% during the forecast period (2024-2029).
The modern trade retail market has witnessed significant expansion, both in developed and emerging economies. Modern trade retail formats have gained popularity due to their ability to meet consumer demands effectively. Consumers appreciate the convenience, wide product selection, competitive pricing, and modern shopping experience offered by these establishments. The demand for quality products, reliable supply chains, and a one-stop shopping experience has further fueled the growth of modern trade retail.
The growth of modern trade retail has had an impact on traditional or informal retail outlets. While traditional retailers continue to serve specific niches and local communities, they face challenges in competing with the convenience, variety, and pricing offered by modern trade retail. However, a balance is maintained as both formats coexist to cater to diverse consumer needs. Several factors have contributed to the growth of the modern trade retail market. These include urbanization, rising disposable incomes, changing consumer lifestyles and preferences, increased awareness of branded products, and the convenience and variety offered by organized retail formats. The market is expected to continue evolving as retailers adapt to emerging trends and technologies to meet the ever-changing demands of consumers.
