Global Retail Shelving System Market by Type (Wall Mount, Mount, Gondola Shelves, Corner Shelving and Other Modular Shelving Systems)
Industry: Industrial Automation
Published Date: January-2023
Format: PPT*, PDF, EXCEL
Delivery Timelines: Contact Sales
Number of Pages: 235
Report ID: PMRREP32710
[256 Pages] PMR has estimated the global Retail Shelving System market to reach a valuation of US$ 2,413.9 Mn in 2023. Sales prospects of Retail Shelving System is expected to witness a high growth rate of 8.8% and is expected to top a valuation of US$ 5,610.6 Mn by 2033.
| Attributes | Key Insights |
|---|---|
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Retail Shelving System Sales (2022A) |
US$ 2,232.1 Mn |
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Retail Shelving System Demand (2023E) |
US$ 2,413.9 Mn |
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Retail Shelving System Market Projections (2033F) |
US$ 5,610.6 Mn |
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Value CAGR (2023-2033) |
8.8% |
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Collective Value Share: Top 3 Countries (2023E) |
30%- 35% |
Retail shelves are a combined fixture used for items that are displayed or stored in retail businesses such as supermarkets, hypermarkets, and other retail chains. The increase in demand from consumers for FMCG products, medical products, and lightweight products available in one place in retail stores is one of the key factor for the growth of the retail shelving market.
The market witnessed a CAGR of 5.8% over the historical period 2017 to 2022. Due to the lockdown declaration in 2018, 2019, and 2020, the market had a sharp decline. This resulted in lower cash flow in the retail industry, which in turn reduced the market's overall value contribution. However, it is projected that the market will exhibit a slingshot effect in a few more quarters, most likely in 2022.
As per the current survey conducted by PMR, the forecast growth outlook for Retail Shelving System is to remain around 8.8% for the period of 2023 to 2033. The market for retail shelving systems is driven by the FMCG industry and medical stores, especially in the retail sector. The consumer preference towards varied product availability in a single place is boosting the demand for retail stores, which is creating direct impact on the sales of retail shelving systems.
Due to the recent economic expansion, customers now have more discretionary income per person, allowing them to spend more on high-quality food items at retail establishments. Particularly in many emerging nations, discretionary income has increased during the past five years. Consumer spending on packaged food has grown as a result of this higher disposable income, which will benefit the retail shelving industry throughout the projection period.
Due to the recent economic expansion, customers now have more disposable income per person, allowing them to spend more money at retail outlets on high-quality food products. Particularly in the previous five years, disposable income has increased in several emerging nations. Consumer expenditure on groceries, medical products, and other products used in day-to-day life has grown along with disposable income, which will benefit the retail shelving industry throughout the course of the projection period.
Leading player in the market are focusing on tie-ups with prominent supermarkets, hypermarkets, and other retail chains. The retail manufacturers in the GCC market are partnering with regional dealers, and distributors to increase their penetration. Major manufacturers are improving channel reach through strategic partnerships and collaborations with dealers and distributors.
Organized players are focusing on providing innovative, durable, and technologically advanced shelves whereas unorganized players are focusing on providing value-for-money customized products.
The retail shelving system market is predicted to grow at a significant growth rate with the expansion of supermarkets, and hypermarkets throughout the course of the forecast period. The market is expected to gain momentum owing to the rising penetration of organized retail chains such as Lulu Group, Walmart, Metro, Best Buy, and others.
The modernization of small merchants' stores will also help the market grow throughout the projected timeframe.
Why is Demand for Retail Shelving System High in GCC countries?
In 2022, over 46% of the Middle East and Africa's market for retail shelving systems will be held by the GCC Countries. While real estate development continues and continuous retail expansion is observed in the GCC countries.
Increasing demand for retail stores in the GCC countries are positively impacting the retail shelving market. The retail shelving market is benefited from strong economic growth and rising disposable income among consumers. Heavy investment is made in retail stores in order to fulfill consumer expectations through ongoing upgrades to the retail experience and services.
What Makes India A Lucrative Market For Retail Shelving System?
India's market expanded by 3.9% between 2017 and 2022. In India, around 14 million offline retail stores will be available in 2022, and the demand for retail stores is increasing day by day due to the rising demand from the consumer side. In the rural area of India, major retail store companies are looking to expand their business by expanding their outlets in the rural area, which increases the demand for shelving systems.
The recent structural reforms- increased FDI limits in several industries, and the Atmanirbhar Bharat policy of the Indian government would all contribute to the aforesaid growth. India is the fifth-largest international retail market in the world. IBEF claims that the introduction of several new businesses has led to the Indian retail industry becoming one of the most dynamic and quick-paced industries. In addition to contributing about 10% of the nation's GDP.
Which Shelving System Type Is The Most Popular?
Gondola shelves system is expected to dominate the global retail shelving market which accounts for more than 48% of value market shares. Gondola shelving types of shelves are found in every company, no matter how big or small. Gondola shelves are used to maximize product presentation, which provides an advantage to the merchandiser as well as to the retail consumers that enter the supermarket. The gondola units are popular in supermarkets due to their adaptability, durability, and aesthetic appeal.
Due to easy installation and disassembling of gondola shelves, allowing the company owner to add or remove storage space. It is possible to add end caps to gondola shelves. Retail stores use endcaps to showcase their top sellers or popular goods.
Which is the most selling Type of Retail Shelving System?
In 2022, the demand for light-duty retail shelves which can support products weighing up to 200 kg. This segment is accounted for more than 60% value shares of market. The need in hypermarkets, where items are frequently small sized, light weighted and often changed, can be ascribed to the cause of the profitable need for light-duty shelves.
The main demand for retail shelves is driven by goods such as FMCG, electronics, and medical products, all of which are light in weight. Another consideration is that light-duty shelves are frequently compact in size, making it simple to use them to increase store floor space.
Which Is The Most Selling Material Of Retail Shelving System?
Steel material for retail shelving is accounted for more than 60% of value shares of market. This is due to the previously mentioned fact that several end users employ small-sized shelves, which are often composed of steel since steel has ability to bear both light and heavy weights. Usually coated to protect the underlying metal. Additionally, steel is more affordable than aluminium, making it the first option for shop owners when planning to purchase shelving systems.
Which End-User Do Retail Shelving Systems Sell the Most?
On the end-user base supermarket, and class A convenience stores are dominant in the global market. Of all the end-users in the retail shelving systems industry, supermarkets and Class A convenience stores make the most purchases. During the projected timeframe, a CAGR of almost 9% is expected.
A variety of packaged products that are necessary in day-to-day life such as ready-to-eat foods, beverages, batteries, etc are available in a single place. Supermarkets, on the other hand, are now the preferred option for people in many developing countries since they provide a variety of items. Increasing demand for retail stores are responsible for expansion of global retail shelving system market.
The majority of manufacturers used tactics including strategic alliances, capacity expansion, new product development, acquisitions, and the creation of new partnerships to boost output. Market leaders are focusing on the acquisition of competing companies in order to increase their consumer base.
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| Attribute | Details |
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Forecast Period |
2023-2033 |
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Historical Data Available for |
2017-2022 |
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Market Analysis |
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Key Countries Covered |
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Key Segments Covered |
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Key Companies Profiled |
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Report Coverage |
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Customization & Pricing |
Available Upon Request |
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The global market is estimated to reach a valuation of US$ 2,413.9 Mn in 2023.
Retail shelving system demand in Supermarket and Class A Convenience Stores is anticipated to witness a growth rate of 9 % over the forecast period of 2023 and 2033 in terms of value.
According to PMR analysis, Madix Inc., LA Darling, Lozier Corp., Gondella Corp., Artitalia Group, Donracks, CAEM, Storflex, Guangzhou Huicheng shelf Co., Ltd, Handy Store Fixtures, Uniweb Inc. and KIDER (INDIA) PRIVATE LIMITED are identified as the prominent manufacturers in the market.
Key players in the global market are expected to account for about 20%-25% of the overall market share.
The top countries driving the global demand include China, India, Japan, U.S., Germany and India.
