Major companies in the supermarket and hypermarket market include The Kroger Co, Aldi, Schwarz Unternehmenstreuhand KG, Rewe Group, Albertsons Companies Inc, Koninklijke Ahold Delhaize N.V, Tesco PLC, Carrefour SA, Fonciere Euris SA, and J Sainsbury plc.
The global supermarkets and hypermarkets market is expected to grow from $2,840.89 billion in 2021 to $3,183.76 billion in 2022 at a compound annual growth rate (CAGR) of 12.1%. The market is expected to grow to $4,792.36 billion in 2026 at a compound annual growth rate (CAGR) of 10.8%.
The supermarkets and hypermarkets market consists of sales all sorts of goods and some services by entities (organizations, sole traders, and partnerships) that are engaged in retailing, fresh, frozen, and canned foods and dry goods by including such as tea, coffee, spices, sugar, and flour, fresh fruits and vegetables, and fresh and prepared meats, fish, and poultry to ultimate users.They also have nonfood items in their portfolio.
They typically operate on the self-service principle.
The main types of supermarkets and hypermarkets are supermarkets and hypermarkets.A supermarket is a big retail establishment that sells food and other household items and is typically self-serve.
The major types of ownerships are retail chains and independent retailers that have applications in consumer electronics, furniture, food and beverage, toy & stationery, personal care, cosmetics, home textile, dress, and other applications.
North America was the largest region in the supermarkets and hypermarkets market in 2021.Western Europe was the second-largest region in the supermarkets and hypermarkets market.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The supermarkets and hypermarkets are adopting a robust and cohesive strategy for data analytics in management. This technology is being deployed to enhance supply chain efficiency, streamline operations to engage customers, and build loyalty, data has become critical for most retail operations. With the rapid growth in retail data and the availability of technologies to analyze data, it will become easier for supermarkets and hypermarkets to identify and meet the needs and expectations of their customers, thus it is expected to drive the market going forward
The outbreak of Coronavirus disease (COVID-19) has acted as a massive restraint on the supermarkets and hypermarkets market in 2020 as supply chains were disrupted due to trade restrictions and consumption declined due to lockdowns imposed by governments globally.COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing.
The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China, and spread globally including Western Europe, North America, and Asia.Steps by national governments to contain the transmission have resulted in a decline in manufacture and trade of non-essential goods and an overall decline in economic activity with countries entering a state of ’lock down’ and the outbreak had a negative impact on businesses throughout 2020 and into 2021.
However, it is expected that the supermarkets and hypermarkets market will recover from the shock across the forecast period as it is a ’black swan’ event and not related to ongoing or fundamental weaknesses in the market or the global economy.
Supermarkets and hypermarkets are increasingly using blockchain technology to track product details such as source, manufacturing location, transportation modes.Blockchain technology can be described as a data structure that holds transactional records and ensures security, transparency, and decentralization.
Due to rising awareness about healthy eating, shoppers are actively looking for the origin and food production methods to understand the entire food supply chain. Blockchain technology enables the users to access labeling information on smartphones giving the user in-depth tracking of data that ensures food quality. For instance, in September 2019, Walmart launched the Walmart Food Traceability initiative that allows users to trace fresh, leafy produce from farm to table in real-time using the IBM Food Trust Network
The countries covered in the supermarket and hypermarket market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam.