Global Food Forums News – China’s Grocery Market Overtakes USA’s
Posted April 5, 2012 on Global Food Forums:
April 5, 2012 – According to IGD, a UK-based food and grocery research group, at the end of 2011, the Chinese grocery market was worth £ 607 billion (about US$ 940 billion), now larger than the US Market at £ 572 billion (about US$ 886 billion). Between 2011 and 2015, the US grocery retail market is predicted to have a compound annual growth rate (CAGR) of 4.2% to reach £ 675 billion in value in 2015. China’s grocery market’s CAGR is predicted to be 10.9% to achieve a value of £ 918 billion. All the BRIC (Brazil, Russia, India, China) nations will be in the top five grocery markets by 2015, with India displacing Japan. Click here for more information .