ASIA Asia Pacific region has more than 60% share of global F&B stores market January 2021
Asia Pacific contributes more than 60% share of the world’s total food and beverage stores, according to recent report released by The Business Research Company (TBRC) Global Market Model.
According to this report, Asia Pacific has the largest share with a consolidated value of US$1.15 trillion in 2019 or 62% of global market, followed by Africa (11.6%) and North America (7.8%).
Asia Pacific food and beverage stores market grew at a CAGR of 6% from 2015 to 2019, while ecommerce and other non-store retailers market grew at a CAGR of 16.5%. The region’s food and beverage stores market is expected to grow at a CAGR of 4.3% from 2019 to 2023.
According to TBRC research, the food and beverage stores market comprises of sales of food and beverages and related services by entities (organisations, sole traders and partnerships) that retail food and beverages from fixed point-of-sale locations. The industry includes grocery stores, specialty food stores, convenience stores and beer, wine and liquor stores.
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