Supermarkets Market Trends, Key Players, Analysis, New Trends And Forecast Till 2033

The supermarkets market size has grown strongly in recent years. It will grow from $1634.55 billion in 2023 to $1769.68 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The growth in the historic period can be attributed to changing consumer lifestyles, urbanization and population density, rise in disposable income, increased focus on convenience, expansion of private label products.

The supermarkets market size is expected to see strong growth in the next few years. It will grow to $2405.78 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%. The growth in the forecast period can be attributed to e-commerce integration and omnichannel retailing, health and wellness trends, sustainability and ethical consumerism, local and organic produce demand, adaptation to changing demographics. Major trends in the forecast period include introduction of smart shelving and inventory management, personalized marketing and loyalty programs, enhanced focus on fresh and local produce, incorporation of contactless and cashless payment options, introduction of automated and robotic solutions.

Market Overview -
A supermarket can be defined as a large self-service retail store that has an area under 20,000 square feet and offers a diverse range of food and non-food products organized into various sections for customers to purchase. It is designed to provide a convenient and efficient shopping experience, with different passages and areas to showcase and store products.

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Health-Conscious Consumers Propel Supermarkets Market Growth Through Demand For Healthy Eating
The rising consumer preference for healthy eating is expected to drive the growth of the supermarkets market going forward. Healthy eating refers to adopting a diet that is balanced and consists of a variety of wholesome foods and beverages, and healthy eating habits have gained popularity due to their many benefits, including reducing the risk of chronic diseases such as diabetes, heart disease, and obesity. Supermarkets offer healthy food options, including fresh fruits and vegetables, lean proteins, whole grains, low-fat dairy, and more organic, non-GMO, and sustainably sourced products, and place these items prominently on the shelves to promote healthy habits and satisfy consumers' demands. For instance, in March 2023, according to the World Economic Forum, a Switzerland-based international non-governmental organization, 50% of Americans claimed to have started trying to eat healthier. Furthermore, in May 2022, according to the 2022 Food and Health Survey conducted by the International Food Information Council, a US-based non-profit organization, among 1,005 Americans ages 18 to 80, 52% reported following a diet or healthy eating habit, a considerable rise from 39% in 2021. Therefore, the rising consumer preference for healthy eating is driving the growth of the supermarkets market.

Competitive Landscape -
Major companies operating in the supermarkets market report are Tesco plc, Carrefour Group, J Sainsbury plc, REWE Group, The Kroger Company, ALDI Nord Group, Albertsons Companies Inc., Target Corporation, Costco Wholesale Corporation, ICA Supermarket, Real Canadian Superstore, ParknShop Limited, Wm Morrison Supermarkets Limited, Woolworths Group Limited, Asda Stores Ltd., Walmart Inc., Kroger Co., Ahold Delhaize USA Inc., Publix Super Markets Inc., The Home Depot Inc., Lowe's Companies Inc., Walgreens Boots Alliance Inc., CVS Health Corporation, Safeway Inc., H-E-B Grocery Company LP, Meijer Inc., Giant Food Stores LLC, Hy-Vee Inc., Wegmans Food Markets Inc., The Schwarz Group

Advanced Customer Experience Revolutionizing Supermarkets Market Presence
The technological advancements have emerged as a key trend gaining popularity in the supermarkets market. Major companies operating in the supermarkets market are frequently focusing on innovating new technologies to sustain their position in the market. For instance, in June 2022, Asda Stores Ltd., a UK-based supermarket chain, launched Salesforce technology, to provide a 360-degree view of its customers, providing personalized and tailored experiences. It would create a cloud-first infrastructure to give its customers one linked and uniform experience across every channel and device. The development of Asda's headless e-commerce architecture, which enables the retailer to separate its front-end and back-end e-commerce apps, will allow it to offer cutting-edge online purchasing experiences.

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Key Segments -
The supermarkets market covered in this report is segmented -
1) By Type: Packaged Foods, Fresh Foods
2) By Ownership: Retail Chain, Independent Retailer
3) By Application: Personal Shoppers, Business Customers

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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