Convenience Stores Market Growth & Trends
The global convenience stores market size is estimated to reach USD 3.12 trillion by 2028 and is expected to grow at a CAGR of 5.6% from 2022 to 2028, according to a new report by Grand View Research, Inc. The market is surging due to long opening hours which provides easy access to customers to quickly purchase their necessary products when compared to other retail channels.
Convenience Stores Market Segmentation
Grand View Research has segmented the global convenience stores market based on type, and region:
Based on the Type Insights, the market is segmented into Cigarettes & Tobacco, Foodservice, Packaged Beverages, Center Store, Low Alcoholic Beverages, Others.
- The cigarettes & tobacco segment dominated the market and contributed a revenue share of around 39% in 2021 and is forecast to grow at a CAGR of 5.8% from 2022 to 2028. The rising nicotine consumption across the globe is one of the primary factors driving the growth of the segment. In addition, the easy availability of tobacco products at every nearby convenience store is again accelerating the segment growth. In every country of the globe, tobacco consumption is comparatively higher than other items which are sold in convenience stores. Therefore, convenience stores are dominating in the revenue generation of the cigarettes & tobacco segment sales.
- The foodservice segment is expected to witness the highest CAGR of 6.4% from 2022 to 2028. The foodservice segment is growing due to the easy availability of prepared food items in every convenience store. Moreover, the ready-to-eat food items and home delivery service offered by local convenience stores are again attributed to the growth of the foodservice segment. Convenience stores provide meals at all hours of the day so that consumers may obtain their things as soon as possible. As a result, throughout the forecast period, the foodservice segment is predicted to grow at the fastest CAGR.
Convenience Stores Regional Outlook
- North America
- Europe
- Asia Pacific
- Central & South America
- Middle East and Africa (MEA)
Market Share Insights
- October 2021: Reliance Retail announced its partnership with 7-Eleven, a giant convenience store to launch its store across India. The acquisition is made to increase its strong presence in the grocery segment.
Key Companies Profile & Market Share Insights
The market is characterized by the presence of established as well as new players. Major players operating in this market are offering various advantages such as partnership & acquisition.
Some of the prominent players operating in the global convenience stores market include,
- Casey's General Stores, Inc
- Alimentation Couche-Tard Inc.
- Murphy USA Inc.
- Parkland Corporation
- 7-Eleven
- Alibaba Group Holding Limited
- com, Inc.
- FamilyMart
- OXXO (FEMSA)
- Lawson Inc.
Order a free sample PDF of the Convenience Stores Market Intelligence Study, published by Grand View Research.
The Business Research Company published its Convenience, Mom And Pop Stores Global Market Report 2020 which provides strategists, marketers and senior management with the critical information they need to assess the global Convenience, Mom And Pop Stores market.
The report provides in-depth analysis of the impact of COVID-19 on the market, along with revised market numbers due to the effects of the coronavirus.The report covers the Convenience, Mom And Pop Stores market’s segments-1) By Type: Convenience Stores, Mom And Pop Stores2) By Ownership: Retail Chain, Independent Retailer.
View Complete Report:https://www.thebusinessresearchcompany.com/report/convenience-mom-and-pop-stores-global-market-report-2020-30-covid-19-impact-and-recoveryConvenience, Mom And Pop Stores Global Market Report 2020 is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 60 geographies.
The chapter on the impact of COVID-19 gives valuable insights on supply chain disruptions, logistical challenges, and other economic implications of the virus on the market.
The chapter also covers markets which have been positively affected by the pandemic.The global convenience, mom and pop stores market is expected to grow from $960.8 billion in 2019 to $961.8 billion in 2020 at a compound annual growth rate (CAGR) of 0.1%.
The low growth is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it.
The Business Research Company published its Convenience, Mom And Pop Stores Global Market Report 2020 which provides strategists, marketers and senior management with the critical information they need to assess the global convenience, mom and pop stores market.
The report covers the convenience, mom and pop stores market’s segments- by type: convenience stores; mom and pop stores and by ownership: retail chain; independent retailer.View Complete Report: https://www.thebusinessresearchcompany.com/report/convenience-mom-and-pop-stores-global-market-report-2020-30-covid-19-impact-and-recoveryConvenience, Mom And Pop Stores Global Market Report 2020 is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 60 geographies.
The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by region and by country.
It covers all the regions, key developed countries and major emerging markets.
The major regions included in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.Most of the Convenience, Mom and Pop Stores have adopted digital technologies.
Mom-and-pop retailers have started using digital systems for payments through smartphones.
https://www.thebusinessresearchcompany.com/discounted-reports.aspxTheBusinessResearchCompany published its Convenience, Mom And Pop Stores Global Market Report 2019 which provides strategists, marketers and senior management with the critical information they need to assess the global convenience, mom and pop stores market.
The report covers the convenience, mom and pop stores market’s segments- convenience stores and mom and pop stores.Explore Complete Report https://www.thebusinessresearchcompany.com/report/convenience-mom-and-pop-stores-global-market-reportConvenience, Mom And Pop Stores Global Market Report 2019 is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 50+ geographies.
The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by region and by country.
It covers all the regions, key developed countries and major emerging markets.
The major regions included in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.Get Discount On This Report https://www.thebusinessresearchcompany.com/sample.aspx?id=2179=discountMost of the convenience, mom and pop stores have adopted digital technologies.
Buyers that do not own a smartphone use Unified Payment Interfaces (UPI) for payments.
Market Forecast By Countries (South Africa, Nigeria, Kenya, Rest Of Africa), By Product Type (Cereals, Beverages, Snack Bars, Ready Meals, Others), By Distribution Channel (Hypermarkets And Supermarkets, Independent Retailers, Specialist Retailers, Convenience Stores, Others) And Competitive LandscapeAccording to 6Wresearch, Africa Breakfast Food Market size is anticipated to register growth during 2021-27.
At present, South Africa accounts for the highest revenue share in the overall Africa breakfast food market.
The reason being, The South African manufacturers continue to focus on unit prices, promotions, and product innovations, in terms of flavor offerings.
Manufacturers are adding organic and healthy ingredients such as superfoods, quinoa, and probiotics to breakfast food items.
Breakfast food items retailed at lower prices (compared to chilled and fresh food) offers a competitive advantage to the lower-income group of consumers.
Breakfast cereals are a relatively small product area in Cameroon and are considered expensive and are beyond the means of most consumers.
