Grocery Retail Market in UK to Grow by $ 43.22 Billion During 2020-2024 | Featuring Aldi Stores Ltd., Co-operative Group Ltd., and Costco Wholesale Corp. among others | Technavio

LONDON--(BUSINESS WIRE)--Technavio estimates the grocery retail market in UK to grow by USD 43.22 billion during 2020-2024. However, the growth momentum is expected to decelerate at a CAGR of almost 4% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.

The market is driven by rapid urbanization and rising consumer spending. However, the growing demand for convenient food products might challenge growth.

Get a Free Sample Report Delivered Instantly to Know More

Grocery Retail Market in UK: Product Landscape

Based on the product, the market saw maximum growth in the foods and beverage segment in 2019. The growing demand for snacks, coupled with product innovation by vendors in terms of flavors is driving the growth of the segment. The market growth in the segment will be significant over the forecast period.

Grocery Retail Market in UK: Retail Format Landscape

Based on the retail format. the hypermarkets and supermarkets segment led the market growth in 2019. Consumers prefer buying consumer goods from hypermarkets and supermarkets, as they carry a considerable assortment of products which allows close evaluation of products and provide the required support and information. This is the major factor driving the growth of the segment.

Develop Smart Strategies for Your Business: Get a Free Sample Report Now!

Major Three Grocery Retail Market Vendors in UK:

Aldi Stores Ltd.

Aldi Stores Ltd. operates its business through the Unified segment. Some of the products offered by the company include fresh meat and fresh fish.

Co-operative Group Ltd.

Co-operative Group Ltd. operates its business through segment such as Food, Wholesale, Funeral and Life planning, Other businesses, and Federal. The company offers a wide range of grocery products to customers.

Costco Wholesale Corp.

Costco Wholesale Corp. operates its business through segments such as United States Operations, Canadian Operations, and Other International Operations. Some of the products offered by the company include pantry & dry goods and bakery & deserts.

Give Your Business a Head Start for 2021: Download Our Free Sample Report

Related Reports on Consumer Staples Include:

Global Fresh Food Market – Global fresh food market is segmented by product (fruits and vegetables, meat and poultry, eggs, and others) and geography (APAC, Europe, MEA, North America, and South America). Get a free sample report to know more

Global Bread Market – Global bread market is segmented by product (artisan bread, packaged bread, and others), distribution channel (offline and online), and geography (APAC, Europe, MEA, North America, and South America). Get a free sample report to know more

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.

Subscribe to World-Class Market Intelligence and gain instant access to 17,000+ market research reports and connect with expert analysts

What our reports offer:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers market data for 2019, 2020, until 2024
• Market trends (drivers, opportunities, threats, challenges, investment opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.