International

Grocery market outlook shows France as the biggest winner in the EU

Products

The USA will gain in value terms compared to our previous forecasts; China retains second place but will be smaller for the next three years - says IGD study.

Posted on Jul 28 ,09:43

A new study released by IGD shows that the post-pandemic grocery market is going to change its evolution for the next three years. Market growth in some regions will slow down, while other countries will evolve rapidly. The US, which stands as the world's largest grocery market, is expected to gain an extra 18% in value terms in 2020 versus the old forecast. "Even though the annual growth rates for 2021 and 2022 are now lower than previously estimated, the market size remains elevated. We anticipate the US grocery market will reach $1,650 billion by 2022," says Lii Bernovski-Smith, Senior Business Analyst for IGD.
At the same time, China will experience a slower growth rate than previously anticipated. "The Chinese grocery market is set to be smaller for the next three years than we estimated before the pandemic. We also expect the growth in value terms from 2020 to 2022 to be lower: $147 billion in the new forecast vs $170 billion anticipated previously."
In Western Europe, France seems to be the biggest winner in this sector, while Italy will lose the trend of growth, according to the analysis.

New grocery market values (US$ bn, 2019 exchange rates)	2019	2020	2021	2022
China	1,361	1,445	1,513	1,592
France	277	286	286	288
Germany	285	299	298	302
Italy	204	210	208	209
Spain	129	134	133	133
UK	251	261	269	274
USA	1,520	1,650	1,642	1,650
Old grocery market values (US$ bn, 2019 exchange rates)
China	1,429	1,510	1,594	1,680
France	263	268	273	278
Germany	285	292	298	305
Italy	204	207	211	214
Spain	129	132	135	138
UK	252	258	263	270
USA	1,354	1,396	1,422	1,450

 
Looking at Germany, France, Italy and Spain, France is the only country where the new forecast leads to a larger market in 2022 than IGD projected before the pandemic. Italy will sustain the biggest loss; the new 2022 market size is $5 billion smaller than the old forecast.

Comments

Similar articles