European Grocery Sales Set To Hit €2.3 Trillion By 2022, Driven By CEE
The European grocery retail market is set to achieve sales of €2.3 trillion (€2,289 billion) by 2022, as a result of strong growth in Central and Eastern Europe, according to forecasts from research firm IGD.
In particular, the CEE grocery markets of Poland, Ukraine, Romania and Russia are expected to see strong growth in the next five years, with sales across Europe experiencing a compound annual growth rate of 3.7%.
In particular, IGD says that Turkey, Russia and the UK will have driven 51% of Europe's grocery retail sales growth between 2017 and 2022, while Europe will account for 16% of global grocery retail sales growth over the next five years.
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