The global food and beverage retail market has experienced significant growth over the past five years and this momentum is expected to continue through to 2017. The market is expected to grow at a compound annual growth rate (CAGR) of 5% over this period, to reach a total market value of US $5,776 billion come 2017.
This strong growth experienced by the global food and beverage retail market is being driven by a variety of factors including the burgeoning GDP, increasing consumer spending and changing lifestyle, taste, and preference.
APAC is forecast to witness the highest growth in the food and beverage retail market through to 2017, due to increasing urbanization, rising disposable income, expansion of stores, supporting economic factors, and availability of easy finance. This is becoming particularly apparent in regions developing nations such as India and China.
The US food and beverage retail market, including restaurants, is estimated to be worth approximately $1.5 trillion industry. Estimates of industry revenues can vary widely, due to many factors. For example, a large portion of supermarket sales is made in non-food items such as drugs and personal care goods, and many types of non-food stores sell small amounts of specialty food products.
Food retailing is rapidly becoming more diverse and sophisticated in emerging markets. For example, modern convenience stores are widespread in major Asian cities, such as the large number of highly popular 7-11 stores found in Thailand.
For mroe information on the global food and beverage retail market, see the latest research: Global Food and Beverage Retail Market Report
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