Spain: Retail Foods

In 2022, Spain imported $1.98 billion worth of agricultural, seafood and forest products from the United States, up 28 percent compared to the previous year. The latest European Union (EU) economic forecast predicts that Spain's growth forecast will be 1.9 percent in 2023, above the EU average. The Spanish retail sector is expected to continue growing, though this growth will be limited due to a strong competitive environment. The sector will also need to continue finding a balance between higher costs and improved efficiency in an inflationary environment in which price is the main determinant in purchasing decisions. The main investments in the sector continue to be directed to commercial regeneration and modernization of existing stores, to the improvement of the fresh products supply and online logistics. E-commerce, ready-to-go food, and sustainability are the key trends gaining importance in the sector.