Australia Grocery Retail Market Overview
Base Year: 2023
Historical Years: 2018-2023
Forecast Years: 2024-2032
Market Growth Rate: 4.70% (2024-2032)
Australia has a thriving grocery retail sector today because of changing consumer tastes and trends and a very dynamic competitive environment. Steady growth and innovation are the main drivers of the future of the industry. According to the latest report by IMARC Group, the Australia grocery retail market size reached USD 49.64 billion in 2023. Looking forward, IMARC Group expects the market to reach USD 77.67 billion by 2032, exhibiting a growth rate (CAGR) of 4.70% during 2024-2032.
Australia Grocery Retail Industry Trends and Drivers:
The grocery retail market in Australia is changing fast. Changes come from new consumer expectations, improved technology, and fierce competition among major players. The pandemic led many consumers to embrace online grocery shopping. They sought convenience, home delivery, and click-and-collect services. Giants like Coles and Woolworths are investing more in their digital platforms. They want to meet customer expectations. At the same time, newer entrants like Amazon Fresh are increasing competition. More consumers now value sustainability when they shop. They prefer retailers who offer eco-friendly packaging, local products, and clear supply chains. Grocery retailers are now adopting new sustainable practices. They aim to cut food waste and expand their offerings. This includes adding plant-based and organic products. A big trend is the rise of private-label brands. Retailers make their brands to offer cheaper options than national brands. This also helps boost their profits.
A key trend in Australia’s grocery retail market is the focus on health and wellness. Consumers are becoming more health-conscious, and this shift is driving change. Demand for fresh, nutritious, and minimally processed foods is rising. This growth boosts health-focused categories. Examples include gluten-free, low-sugar, and other functional foods. Retailers need to source locally as they expand their fresh produce. This helps enhance quality and freshness for consumers. Experiential shopping is on the rise. Retailers now entice customers with engaging in-store experiences. These include, among others, in-store dining, demonstrative cooking, and interactive displays. Innovations are boosting efficiency and enhancing customer experience. For example, they include AI recommendations, smart shelves, and cashier-less checkout. Agility is crucial for grocers as the industry evolves. They must adapt to threats and stay connected with customers. This focus helps them maintain competitive, customer-centered strategies in a changing marketplace.
Download sample copy of the Report: https://www.imarcgroup.com/australia-grocery-retail-market/requestsample
Australia Grocery Retail Industry Segmentation:
The report has segmented the market into the following categories:
Product Insights:
- Food and Beverages
- Fresh Food
- Packaged Food
- Beverages
- Non-Food Items
- Household Cleaning Products
- Personal Care Products
- Pet Care Products
Distribution Channel Insights:
- Hypermarkets and Supermarkets
- Convenience Stores
- Discount Stores
- Online
- Others
Regional Insights:
- Australia Capital Territory New South Wales
- Victoria Tasmania
- Queensland
- Northern Territory Southern Australia
- Western Australia
Competitive Landscape:
The competitive landscape of the industry has also been examined, along with the profiles of the key players.
Key highlights of the Report:
- Market Performance (2018-2023)
- Market Outlook (2024-2032)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Strategic Recommendations
- Historical, Current, and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
About Us:
IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provides a comprehensive suite of market entry and expansion services. IMARC offerings include a thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape, and benchmarking analyses, pricing and cost research, and procurement research.
Contact Us:
IMARC Group
Street: Morgan Park QLD 4370
City/Town: Warwick
State/Province/Region: Queensland
Country: Australia
Zip/Postal Code: 4370
Email: [email protected]
Phone Number: +1-631-791-1145
