Industry revenue of »retail sale in non-specialised stores with food« in Finland 2011-2023

Revenues from food retail in non specialised stores in Finland are projected to grow from 18.2 billion U.S. dollars in 2011 to 21.2 billion U.S. dollars by 2023. Some of the key factors for the growth include a favorable consumer and business climate, growing disposable incomes, growth in private label brands and an increasing demand for organic products. Additionally, the approval of ‘The new Alcohol Act’ in early 2018 has augured well for the sector, allowing retail stores to sell alcoholic beverages which contain up to 5.5 per cent alcohol.

The market is oligopolistic and is dominated by two major retailers, the S group and the K group. Combined, the two retailers held an 82 percent market share in 2018. German discount supermarket chain, Lidl, is the third largest player, having entered the market in 2002, and currently operates nearly 170 stores. Other key retailers include the department store chain Stockmann, the hypermarket chain Minimani and the discounter Tokmanni.

Industry revenue of »retail sale in non-specialised stores with food« in Finland from 2011 to 2023

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Sources

Supplementary notes

* Estimate - This also applies for past years as data provided by statistical institutions often is not available for more recent years.

Currency conversion factor: (EUR -> USD) = 1.186

The industry classification is based on the NACE Rev.2 - system in Finland. The industry “retail sale in non-specialised stores with food, beverages or tobacco predominating“ has the code “G4711“.

Details on the methodology can be found here.

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