According to the
report analysis, ‘Food
& Grocery Retailing In Hong Kong, Market Shares, Summary And Forecasts To
2022’ states that some of the major companies which are presently
functioning in this category of retail in an auspicious manner for become
leading player and defeating the demand of potential consumers includes
Wellcome, ParknShop, 7-Eleven, Circle K, Vanguard, Aeon, DCH Food Mart, Market Place,
759 store, Fusion and several others. Whereas, the Circle K registered the
fastest growth in 2017 followed by Wellcome whereas, the Wellcome is the major
market leader which is driving the sales supported by rising store count. Not
only has this, the report offers deep analysis and various trends of the
consumer behavior which includes key factors which operating the supply and
demand, market dynamics, details of major key retailers, technological
innovations, macroeconomic factors. In addition, the report offers retail sales
with the qualitative and quantitative insights of changing retail dynamics in
this segment.
The significant
increase in disposable income and growing population which is very much health
conscious make the market more competitive and enable the key players for
active working. Moreover, the key manufactures are introducing the latest
technologies for making attractive product. Whereas, the growing urbanization
has made people more aware related to the health and status who widely want
assured and good quality food. With the significant rise in demand the key
retailers are starting up their business on an e-commerce platform which is
providing vast variety of product which can be compared with the other products
who are having similar nature. However, due to effective development in the
technology of e-commerce platform the supply of this category product is rising
more effectively across the globe and the market of Hong Kong is become more
competitive which attract numerous investors which support the market
financially which lead the market growth in the near future.
The category of food
and grocery is the biggest segment in the Hong Kong retail industry and is
anticipated to grow by 31.9% of total retail sale in 2017 whereas; the Hong
Kong retail market is forecasted to rise at a CAGR of 3.5% during 2017-2022.
Moreover, by the increment in the wages and developing economy set to boom the
growth during 2017-2022. The food and grocery products is having numerous
distribution channels whereas, the hypermarkets is the largest retail channel
meanwhile, the market share of specialists declines. With the growing demand
the online sales are resulting the fastest growth however, the sales remains
low. Moreover, the major market players of this category is playing efficient
role in making this market more competitive and attractive moreover, which can
attract international brands and several other retailers.
The players have started
analysis for identifying the best opportunities and align their product
offering and making effective strategies to meet the demand. Therefore, in the
coming years it is expected that the retail market of this category in Hong
Kong will grow more significantly over the decades with
the effective working of the key players.
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Ken Research
Ankur Gupta, Head Marketing & Communications
+91-9015378249
