DUBLIN, Sept. 20, 2023 /PRNewswire/ — The “China Grocery Market with Focus on Fresh Segment: Insights & Forecast (2023-2027)” report has been added to ResearchAndMarkets.com’s offering.
The China fresh grocery market is poised to achieve a value of US$2.12 trillion by 2027, with an expected CAGR of 5.06% from 2023 to 2027. Factors such as an aging population, surging disposable income, expansion in the organic food market, and the rising prominence of e-commerce have largely supported this growth. However, market progress might face hindrances due to regulatory tightening, infrastructural & logistic challenges, and concerns over high wastage & low profit margins.
In 2022, the China grocery market was primarily dominated by the fresh grocery segment, outpacing fast moving consumer goods (FMCG). When considering distribution channels, brick and mortar stores took the lion’s share, followed by online channels. Notably, the brick & mortar category can be further classified into modern retailing, traditional retailing, and others, while the online grocery market encompasses traditional e-commerce, on-demand, and community group purchase platforms.
Dairy products & eggs held the predominant market share among fresh grocery products in 2022, with fresh vegetables and fresh fruits following suit. The expansion into lower tier cities combined with changing lifestyle and dietary patterns is anticipated to propel the market forward.
Key Highlights of the Report Include:
Impact of COVID-19: The pandemic played a significant role in driving the adoption of e-grocery platforms and changed retail store sales growth dynamics.
Market Dynamics: Comprehensive analysis of growth drivers, market trends, and challenges. Major drivers include the rise in e-commerce, growing disposable income, and changing lifestyles, while challenges involve regulatory issues and infrastructural challenges.
Competitive Landscape: The report offers a detailed view of the competitive scenario, including market share insights of leading players like JD.com, Alibaba Group Holding Limited, Sun Art Retail Group Limited, Yonghui Superstores, China Resources Holdings and Walmart Inc.
No. of Pages
2023 – 2027
Estimated Market Value (USD) in 2023
Forecasted Market Value (USD) by 2027
Compound Annual Growth Rate
For more information about this report visit https://www.researchandmarkets.com/r/qtq23z
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Originally published at https://www.prnewswire.com/news-releases/chinas-fresh-grocery-market-report-2023-2027-profiles-of-leading-players–alibaba-group-sun-art-retail-group-yonghui-superstores-china-resources-holdings-and-walmart-301933597.html
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The post China’s Fresh Grocery Market Report 2023-2027: Profiles of Leading Players Alibaba Group, Sun Art Retail Group, Yonghui Superstores, China Resources Holdings and Walmart first appeared on POST CARD PLANET.