Feb. 22 – The BRIC countries will all be represented among the top five global grocery markets by 2015, according to the latest research by IGD.
The food and grocery market analysis firm projects that China will be first, the United States second, India third, Russia fourth, and Brazil the fifth largest markets by 2015.
Furthermore, 2012 is predicted to be the year that China overtakes the United States as the world’s largest grocery market, worth US$1.41 trillion alone.
“It is vital that retailers incorporate BRIC markets into their strategic planning to sustain business growth,” IGD Chief Executive Joanna Denney-Finch said.
By 2015, the Indian market is estimated to be worth US$581.6 billion, Russia US$535.4 billion, and Brazil US$448 billion.
Is this by volume or by money!!! I wonder how US with a much lesser population than India could be consuming more grocery. This is probably by value.
Yes, my food volume over price