The global convenience stores market is expected to expand at a substantial CAGR during the forecast period, 2020 – 2026. The convenience store comprises companies, establishments and businesses that are involved in the retail of basic grocery items. The convenience store industry sells common products that include a variety of product types such as gasoline, food, fresh, packed, beverages, tobacco, snacks & refreshments, and grocery items. Convenience stores are stocked with merchandise that has been purchased from wholesalers and manufacturers. Availability of product, accessibility and easy transactions allows consumers to visit convenience stores and the convenience store offers healthy and fresh products and this will boost the convenience stores market during the forecast period. Convenience stores have maintained growth and profitability by offering convenience, value and a greater variety of fresh and healthy products despite of the tough economy and rise in cost and competition.



Convenience Stores Market Executive Summary



Convenience stores are shifting their product mix to offer more food service items that have higher margins and satisfy demand for quick and easy food options. Multiple modern convenience stores have partnerships with the general stores, dairy stores, and many others and the layout and format of convenience stores continues to be relatively small, the industry has been able to endure and grow throughout the years, and still thrives through their adaptation to a continually changing market. Convenience store operators are expected to continue to face stiff competition from major grocery chains. The convenience stores industry has a low, but increasing level of concentration. The convenience stores are also increasingly shifting their product mix to offer more food service items that have higher margins and satisfy demand for quick and easy food options. The global convenience stores market is segmented into product, store types and regions.


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Market Trends, Drivers, Restraints, and Opportunities:



Longer open hours and the less store space i.e. 1000 to 3000 sq. ft. that eliminates the wastage of time and quick purchasing of the necessary products when compared to other retail stores is considered to drive the global convenience stores market during the forecast period.


Development of different retail options such as e-commerce, vending machines, and quick serve restaurants are considered as restraints and this, in turn will hamper the growth of the convenience stores market


Multiple retail stores are increasing in number and are providing the same product line at a faster pace using the advanced technologies and this will hamper the growth of the market.


The trend of online store going offline on the streets, started by Amazon that has opened its convenience store with the name of ‘Amazon Go Store’ embedded with its "just walk out technology", where no standing in lines and no checkout is required.



Scope of the Report

The report on the global convenience stores market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes Details
Base Year 2019
Historic Data 2015–2018
Forecast Period 2020–2026
Regional Scope Asia Pacific, Europe, North America, the Middle East & Africa, and Latin America
Report Coverage Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast


Convenience Stores Market Taxanomy

Global Convenience Stores Market Segment Insights:

On the basis of product types, the global convenience stores market is divided into gasoline, food, fresh, packed, beverages, tobacco, snacks & refreshments, grocery items, and financial services. Gasoline held the largest market share in recent times and it is expected to dominate and expand during the forecast period. The tobacco segment is anticipated to witness the highest CAGR due to availability of the product in the stores and long open hours. The other segments will contribute to the growth of the convenience stores market during the forecast period.

Based on store types, the global convenience stores market is split into kiosks, mini convenience store, limited selection convenience store, traditional convenience store, expanded convenience store, and hyper convenience store. All the segments are estimated to contribute to the growth of the market during the forecast period due to rise in demand for multiple product across the globe. The availability of the product in a particular store type according to the demand of the product will lead to increase in growth rate of the segment and it will boost the growth of the market during the forecast period.

On the basis of regions, the global convenience stores market is segmented into Asia Pacific, Europe, North America, Middle East & Africa, and Latin America. North America held the largest share in recent times and it is expected to dominate the global convenience stores market during the forecast period due to availability of products and minimum time to purchase the product. Asia-Pacific is projected to expand during the forecast period as countries in this region such as India, China, and Malaysia topped the global retail development index (GRDI) list in terms of both size and momentum thus proving to be potential to develop convenience store market which is at an initial stage. The other regions are expected to expand during the forecast period due to availability of products across the globe.


Competitive Landscape:

The world leading players in the global convenience stores market include Аlіmеntаtіоn Соuсhе Таrd Іnс., Саѕеу'ѕ Gеnеrаl Ѕtоrеѕ Іnс., Ѕеvеn & і Ноldіngѕ Со. Ltd., аnd Ѕunосо LР.



Convenience Stores Market Regional Graph

The global convenience stores market has been segmented on the basis of


Product Types



Gasoline


Food


Fresh


Packed


Beverages


Tobacco


Snacks & Refreshments


Grocery items


Financial services



Store Type



Kiosks


Mini Convenience Store


Limited Selection Convenience Store


Traditional Convenience Store


Expanded Convenience Store


Hyper Convenience Store



Regions



Asia Pacific


Europe


North America


Middle East & Africa


Latin America