date:Jun 06, 2013
China, the worlds biggest food and grocery market, is now valued at more than US$1tn and is forecast to be worth US$1.5tn in 2016, according to latest figures published by market researcher IGD.
IGD research also found that the US grocery market will remain the second largest globally and is predicted to be worth US$1.1tn in 2016. IGD expects growth to accelerate from a compound annual growth rate (CAGR) of 3.6% between 2010 and 2012, to 4.7% between 2013 and 2016.
By 2016, IGD said that the