Published on : Nov 17, 2014
Recent news updates suggest that Chinese food and grocery market, which also is the world’s biggest grocery market, is now worth more than US$1 trillion. Looking at the pace at which China’s population has expanded over the past years (it is home to nearly 19 % of the total world population), and the huge number of people the country houses, China’s food and grocery market is expected to be worth more than US$1.6 trillion by 2016.
Grocery market in the U.S. is forecast to notch-up to the US$1 trillion by 2016. By the same time period, the grocery market of India, the country with world’s second largest (nearly 16%) share of population, is estimated to surpass Japan to become the world’s third largest grocery market.
All of the BRIC nations are expected to rank amongst the top five grocery markets of the world by 2016, which would be worth more than US$3.5 trillion. The top 15 grocery markets of the world will have amassed a total value of more than US$7 trillion by this time.
These positive numbers state one thing about the worldwide grocery market – companies operating in the food and consumer goods industries have huge scope of growth in regional as well as international markets. The grocery market forays a positive picture that is beneficial for all – big companies with mature businesses, and also small start-up firms willing to enter the market.
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