How big is the convenience store market | Growth Analysis 2031

Q: What was the USD market size and CAGR of the Convenience Store Market?

The market was valued at about USD 2.09 billion in 2024 and is expected to grow at a CAGR of around 7.3%, reaching USD 3.02 billion by 2031.

Q: Which modern retail technologies are driving convenience Store Market store growth?

IoT-driven automation, cashier less systems, mobile payments, EV charging, and digital loyalty platforms are key tech enablers.

Q: What are the main challenges facing the convenience store market?

The convenience store market faces several challenges, including increased competition, price sensitivity, and changing consumer preferences. With the rise of e-commerce and online grocery delivery services.

Q: What are the key trends shaping the future of convenience stores?

Convenience store market comprises several key trends are shaping the future of the convenience store market. One major trend is the growing demand for healthier food options and functional snacks, driven by increasing consumer health consciousness.

Q: How does 6W market outlook report help businesses in making decisions?

6W monitors the market across 60+ countries Globally, publishing an annual market outlook report that analyses trends, key drivers, Size, Volume, Revenue, opportunities, and market segments. This report offers comprehensive insights, helping businesses understand market dynamics and make informed decisions.

Q: Do you also provide customisation in the market study?

Yes, we provide customisation as per your requirements. To learn more, feel free to contact us on sales@6wresearch.com

Code: MTA5140

Publication Date: Jul 2025

What is the Convenience Store Market Size?

According to 6Wresearch internal database and industry insights, the Global Convenience Store Market was valued at USD 2.09 billion in 2024 and is anticipated to exceed USD 3.02 billion by 2031, registering a steady at a CAGR of 7.3% during the forecast period.

The convenience store market is driven by factors like convenience, 24/7 availability, consumer demand for quick, ready-to-eat food, and increasing growth. Urbanization, rising disposable income, and busy lifestyles are shifting shopping preferences toward quick‑stop retail. Retailers are innovating with fresh food options and smart tech to meet evolving consumer expectations. The industry is increasingly integrating smart technologies, including cashier-less systems, mobile payments.

Major Growth Factors of the Convenience Store Industry

Rapid urbanization and rising disposable income
Shift toward immediate‑need and impulse purchases
Expansion of prepared foods and beverages
Adoption of digital payments and loyalty apps
Growth of smart store technologies (IoT, automation)
Increase in independent and franchised store formats

Convenience Store Market Trends

Convenience Store Market is progressively embracing smarter, customer-centric formats. Stores are offering more fresh, ready-to-eat meals, and integrating digital experiences like mobile ordering, loyalty platforms, and self-checkout. Chains are evolving beyond traditional gas-and-snack outlets into mini-market hubs that cater to modern lifestyles.

Emerging Developments in the Convenience Store Industry

Convenience Store Market is anticipated to experiment with cashier less, unmanned outlets using AI, IoT, and automation for seamless checkout. They’re also integrating EV charging, dynamic pricing, and real-time inventory with smart shelving. As a result, the sector is transforming into intelligent, efficient, and tech-enhanced retail experiences. The rise of on-demand delivery apps has transformed how consumers interact with convenience stores.