Convenience Stores Market Size, Share, Growth Analysis, By Type(Cigarettes & Tobacco, Foodservice, Packaged Beverages, Center Store), By Region - Industry Forecast 2024-2031

In 2021, North America held the greatest market revenue share of more than 47%. Convenience stores exceed other channels of commerce in the United States, accounting for over 35% of brick-and-mortar retail operations. Furthermore, changing purchasing habits and the pandemic have altered the retail sector in the United States, and the operation of convenience stores has expanded beyond expectations. Customers were more willing to frequent convenience stores as the sickness progressed because they were less crowded than supermarkets. As a result, the overall sales of convenience stores in this region have increased. As a result, the region is predicted to grow at a rapid pace during the projection period.

Asia Pacific is expected to register the fastest CAGR of 6.4% from 2022 to 2028. The growth in demand for convenience stores is due to the increase in purchasing power of China's and Vietnam's middle-class population. Furthermore, due to lifestyle changes and consumers living a fast-paced life, Vietnam has seen the largest increase in convenience stores, particularly in urban regions. Furthermore, as infrastructure develops, the number of outlets grows in popularity, and collaboration agreements among local enterprises boost the entire market. As a result, the region is predicted to develop at the fastest CAGR over the projection period.