CRV Archives - Inside Retail Asia
China is set to overtake the US to become the world’s largest grocery market by 2023 in value terms, according to new forecasts.
The Chinese grocery market by grow by 32.6 per cent by 2022, preserving its status as the largest grocery market in Asia.
Asia’s big-box grocers are forecast to grow on average 3.5 per cent a year, according to IGD research.
China’s largest food retailers – supermarkets and hypermarkets – have suffered “a torrid 18 months” and will need to transform their offer to recover from declining growth.