The food retailing value added in Australia showed a steady increase from 2013 to 2022, culminating at AUD 28.47 billion in 2022. However, in 2023, there was a slight decline of 1.49% to AUD 28.05 billion. Despite this dip, the compound annual growth rate (CAGR) over the last five years (2018-2023) remained robust at 3.49%. Looking ahead, forecasts indicate a positive trajectory, with an anticipated CAGR of 1.8% from 2024 to 2028, leading to a projected value of AUD 31.41 billion in 2028, representing a 9.3% growth over this period.

Future trends to watch for include:

Technological advancements in food retailing, driving efficiency and customer engagement.
Increased consumer preference for sustainable and locally-sourced products.
Expansion of online food retail platforms and omnichannel retailing strategies.
Potential economic challenges and inflation impacting consumer spending behavior.