DUBLIN, February 18, 2016 /PRNewswire/ --
The global food retail industry is expected to reach a value of USD 7,500 billion by 2019, as noted in a report available from Research and Markets. The report notes that although strong demand from the Asia Pacific market is driving global growth, the Europe food retail market is facing a point of saturation. This was reiterated today by recent data from Nielsen, which revealed the slowest rise in European grocery prices in five years. The delayed growth is accredited to a notable decrease in price inflation rates, itself a product of tough competition within the European market.
Sales values in the Europe grocery market rose by 1.3% in the fourth quarter of 2015 resulting in a 2.1% increase in average profits for retailers, the lowest increase in over five years.
A recent report predicted the grocery market in the UK to grow with a CAGR of 2.23% during the 2014-2019 period, but the UK was one of four countries that experienced a drop in sales according to the data. It is unknown whether this decline in sales will continue in this market.
Another report states that consumers in most European countries will demand more foods from their respective countries due to the perception of better quality. As competition for sales intensifies, success will be achieved by the retailers able to provide high-quality groceries to their home markets.
For further information on this topic, and a full list of all related documentation, please visit the Food and Grocery Retailing section at http://www.researchandmarkets.com/rm/LPQQ.
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SOURCE Research and Markets