The five biggest corporations, Shoprite Holdings Ltd., Pick n Pay Retailers Pty Ltd., Spar Group Ltd., Walmart-owned Massmart, and Woolworths Holdings Ltd., account for a substantial portion of the retail food market in South Africa. When combined, they make up over 60% of all retail food sales. Retail food sales in South Africa reached a total of $39 billion in 2023. In 2023, consumer-oriented agricultural goods were imported by South Africa to the tune of $3.2 billion. In South Africa, retail trade sales account for over 20% of the country's GDP. Prolonged demand for healthier options in the fresh food and wellness sectors, growing interest in subscription services, and the necessity of omnichannel shopping—a hybrid approach that combines product information and reviews—are some of the major developments in the South African retail food industry.
Vietnam's food retail market consisted of over 665,000 outlets generating sale revenue of $55 billion in 2023, up four percent compared to 2022. Although the global economic downturn has slowed growth, key retailers remain optimistic about the potential of Vietnam's retail market. Vietnam's young population, growing middle class, rising disposable incomes, and high demand for quality and safety are key growth drivers for U.S. food and beverage products in the retail market.
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