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INDUSTRY INSIGHT PANDEMIC PUTS WIND IN GLOBAL GROCERY SALES Covid-19 has changed global grocery retail markets. Following unprecedented growth in 2020, driven by the pandemic, we saw the top 20 markets grow by 8.8 per cent year on year. IGD looks at the detail behind this significant increase. BTy IGD Senior Data Analyst Thibault Laurentjoye. he global grocery retail market is on track to generate an additional $440 billion in sales between 2020 and 2022, yielding a 3.1 per cent CAGR, according to our latest forecasts. The projected increase in sales for the period follows exceptional expansion for grocery in 2020, with the top 20 markets growing by $280 billion, representing an 8.8 per cent year-on-rise. Accelerated growth in most of the global grocery retail market in 2020 was driven by a shift in consumer spend from out of home to at-home, as a result of pandemic lockdown restrictions. The key findings: 2020-2022 • India will be the fastest growing country over the period 2020-22 with a CAGR of 7.2 per cent. • The US will remain the leading market. • Growth in China will remain robust and the accelerated shift towards online will continue. • In the medium term, central and eastern Europe are expected to grow faster than western Europe. • The UK’s changed retail landscape will retain some of its new features, such as online shopping and big weekly shop. GLOBAL MARKET SIZES: TOP 20 IN 2022 Rank Country 2022 Market Size (USD billion) CAGR (%) 2020-22 1 USA 1,655 0.2 2 China 1,627 5.8 3 5 7 9 11 13 15 17 19 India 656 7.2 Germany 301 0.4 France 287 0.4 United Kingdom 277 2.3 Italy 208 -0.3 Indonesia 169 5.2 Pakistan 125 12 Canada 109 0.4 Australia 100 2.7 4 Japan 408 0.3 6 Brazil 297 3.0 8 Russia 280 4.3 10 Mexico 214 2.8 12 Nigeria 170 12.3 14 Spain 133 -0.3 16 Turkey 109 12 18 South Korea 102 1.7 20 Egypt 98 9.4 26 RETAIL WORLD APR, 2021