The growth prospects of the grocery stores industry are anticipated to be bolstered by the rising demand for premium quality groceries as disposable incomes rise. Given the inelastic demand the industry enjoys and improved supply chain, investors could consider investing in quality grocery stocks Natural Grocers by Vitamin Cottage, Inc. (NGVC), Village Super Market, Inc. (VLGEA), and Marks and Spencer Group plc (MAKSY).
Various consumer-oriented features of grocery retail stores, such as fair price, quality, variety of products, and convenience, help them stay competitive in the defensive industry. The global grocery retail market is projected to reach $14.77 trillion by 2030, growing at a CAGR of 6.9%.
