Retail Sourcing and Procurement Market Report 2025 (Global Edition)

Global Retail Sourcing and Procurement Market Report 2025 Market Size Split by Solution Outlook: (Strategic Sourcing, Supplier Management, Contract Management, Procure To Pay, Spend Analysis), by Serv...

Retail Sourcing and Procurement Market Report Description

We have various report editions of Retail Sourcing and Procurement Market, hence please contact our sales team and author directly to obtain/purchase a desired Edition eg, Global Edition, Regional Edition, Country Specific Report Edition, Company Profiles, Forecast Edition, etc. Request for your Free Sample PDF/Online Access.

Competitive Landscape of the Retail Sourcing and Procurement Market

The Retail Sourcing and Procurement market is highly competitive, with key players focusing on digital transformation, supply chain optimization, and AI-driven solutions. Leading companies, such as SAP Ariba, Oracle, and IBM, offer integrated platforms to streamline procurement processes and enhance supplier collaboration. Additionally, cloud-based solutions are becoming prominent, fostering efficiency and scalability. The market is also witnessing increasing partnerships and acquisitions as players aim to expand their offerings and maintain a competitive edge in a rapidly evolving retail landscape.

In June 2024, to effectively map suppliers, their suppliers, and transactional records that support the chain of custody, Infor Nexus announced the release of the "Map and Trace" application. This application was created in collaboration with Burton Snowboards. (Source:https://www.infor.com/news/infor-nexus-launches-map-and-trace-responsible-supply-chains)

Top Companies Market Share in Retail Sourcing and Procurement Industry: (In no particular order of Rank)

• Cegid
• Epicor Software Corporation
• GEP
• Infor
• International Business Machines Corporation
• Ivalua Inc.
• Blue Yonder Group Inc.
• Oracle
• Proactis Holdings Limited
• SAP SE
• Confidential Data
• Access The Paid Version
• Data Hidden

*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

Regional Analysis of the Retail Sourcing and Procurement Market

Which Region Dominates the Retail Sourcing and Procurement Market in 2024?

According to Cognitive Market Research, North America currently dominates the Retail Sourcing and Procurements market, and the region is expected to have significant growth during the projected period. This is due to the region's dominance is driven by its advanced technological infrastructure, strong economic environment, and the widespread adoption of digital solutions in retail operations. Major retailers in North America leverage cutting-edge procurement technologies to enhance efficiency, reduce costs, and improve supply chain visibility. The presence of leading retail giants such as Walmart, Amazon, and Target further consolidates North America's position. Additionally, regulatory advancements and a highly competitive retail landscape support the region's dominance by fostering innovation and efficiency in procurement processes. This, combined with a growing focus on sustainable and ethical sourcing practices, positions North America as the leader in the retail sourcing and procurement market in 2024.

Which Region is Expanding at the Fastest CAGR?

Asia-Pacific is expected to make significant gains during the projected period, with the greatest compound annual growth rate (CAGR) due to the rapid economic growth, increasing digital transformation, and evolving consumer preferences. Countries like China and India are leading this expansion, driven by a growing middle class, urbanization, and the adoption of advanced technologies like artificial intelligence and blockchain in procurement processes. The region's emphasis on cost efficiency, scalability, and the integration of e-commerce platforms are key factors driving the market's rapid growth. Additionally, favorable government policies and investments in infrastructure enhance the attractiveness of the Asia Pacific for retail sourcing and procurement, making it the fastest-growing region in this sector.

The current report Scope analyzes Retail Sourcing and Procurement Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Retail Sourcing and Procurement

According to Cognitive Market Research, the global Retail Sourcing and Procurement market size was estimated at USD 6025.6 Million, out of which North America held the major market share of more than 40% of the global revenue with a market size of USD 2410.24 million in 2024 and will grow at a compound annual growth rate (CAGR) of 14.7% from 2024 to 2031.

• According to Cognitive Market Research, the US had a major share in the Retail Sourcing and Procurement market with a market size of USD 1901.68 million in 2024 and is projected to grow at a CAGR of 14.5% during the forecast period. The US market's Innovation, digital transformation, and increasing demand.
• The Canada Retail Sourcing and Procurement market had a market share of USD 289.23 million in 2024 and is projected to grow at a CAGR of 15.5% during the forecast period. Canada benefits from increasing demand and technological advancements in retail sourcing and procurement.
• The Mexico Retail Sourcing and Procurement market is projected to witness growth at a CAGR of 15.2% during the forecast period, with a market size of USD 219.33 million in 2024.

Europe Retail Sourcing and Procurement

According to Cognitive Market Research, the global Retail Sourcing and Procurement market size was estimated at USD 6025.6 Million, out of which Europe held the market share of more than 30% of the global revenue with a market size of USD 1807.68 million in 2024 and will grow at a compound annual growth rate (CAGR) of 15.0% from 2024 to 2031.

• The United Kingdom Retail Sourcing and Procurement market had a market share of USD 303.69 million in 2024 and is projected to grow at a CAGR of 15.8% during the forecast period. In the UK, Retail Sourcing and Procurement sales witness an upswing due to Strong adoption of advanced technologies.
• The France Retail Sourcing and Procurement market is projected to witness growth at a CAGR of 14.2% during the forecast period, with a market size of USD 166.31 million in 2024.
• According to Cognitive Market Research, the German Retail Sourcing and Procurement market size was valued at USD 357.92 million in 2024 and is projected to grow at a CAGR of 15.2% during the forecast period. In Germany, Retail Sourcing and Procurement surged due to a Strong industrial base and technological advancements.
• The Italy Retail Sourcing and Procurement market is projected to witness growth at a CAGR of 14.4% during the forecast period, with a market size of USD 155.46 million in 2024.
• The Russia Retail Sourcing and Procurement market is projected to witness growth at a CAGR of 14.0% during the forecast period, with a market size of USD 280.19 million in 2024.
• The Spain Retail Sourcing and Procurement market is projected to witness growth at a CAGR of 14.1% during the forecast period with a market size of USD 148.23 million in 2024
• The Luxembourg Retail Sourcing and Procurement market is projected to witness growth at a CAGR of 15.1% during the forecast period, with a market size of USD 56.04 million in 2024.
• The Portugal Retail Sourcing and Procurement market is projected to witness growth at a CAGR of 14.8% during the forecast period, with a market size of USD 37.96 million in 2024.
• The Greece Retail Sourcing and Procurement market is projected to witness growth at a CAGR of 15.3% during the forecast period, with a market size of USD 21.69 million in 2024.
• The Rest of Europe's Retail Sourcing and Procurement market is projected to witness growth at a CAGR of 13.7% during the forecast period, with a market size of USD 280.19 million in 2024.

Asia Pacific Retail Sourcing and Procurement

According to Cognitive Market Research, the global Retail Sourcing and Procurement market size was estimated at USD 6025.6 Million, out of which Asia Pacific held the market share of around 23% of the global revenue with a market size of USD 1385.89 million in 2024 and will grow at a compound annual growth rate (CAGR) of 18.5% from 2024 to 2031.

• According to Cognitive Market Research, the China Retail Sourcing and Procurement market size was valued at USD 623.65 million in 2024 and is projected to grow at a CAGR of 18.0% during the forecast period. Retail Sourcing and Procurement surged in China due to rapid growth driven by technology and scale.
• The Japan Retail Sourcing and Procurement market is projected to witness growth at a CAGR of 17.0% during the forecast period, with a market size of USD 191.25 million in 2024.
• The India Retail Sourcing and Procurement market had a market share of USD 166.31 million in 2024 and is projected to grow at a CAGR of 20.3% during the forecast period. India's Rapid adoption of digital technologies boosts growth in India's Retail Sourcing and Procurement market.
• The South Korean Retail Sourcing and Procurement market is projected to witness growth at a CAGR of 17.6% during the forecast period, with a market size of USD 138.59 million in 2024.
• The Australian Retail Sourcing and Procurement market is projected to witness growth at a CAGR of 18.2% during the forecast period, with a market size of USD 72.07 million in 2024.
• The South East Asia Retail Sourcing and Procurement market is projected to witness growth at a CAGR of 19.5% during the forecast period, with a market size of USD 95.63 million in 2024.
• The Rest of Asia Pacific Retail Sourcing and Procurement market is projected to witness growth at a CAGR of 18.3% during the forecast period, with a market size of USD 98.40 million in 2024.

South America Retail Sourcing and Procurement

According to Cognitive Market Research, the global Retail Sourcing and Procurement market size was estimated at USD 6025.6 Million, out of which Latin America held the market share of around 5% of the global revenue with a market size of USD 301.28 million in 2024 and will grow at a compound annual growth rate (CAGR) of 15.9% from 2024 to 2031.

• According to Cognitive Market Research, the Brazil Retail Sourcing and Procurement market size was valued at USD 128.95 million in 2024 and is projected to grow at a CAGR of 16.5% during the forecast period. Retail Sourcing and Procurement flourished in Brazil due to Growing demand for efficient procurement strategies.
• Argentina's Retail Sourcing and Procurement market had a market share of USD 50.62 million in 2024 and is projected to grow at a CAGR of 16.8% during the forecast period. Growing demand for retail efficiency and cost savings drives Argentina's Retail Sourcing and Procurement market.
• Colombia Retail Sourcing and Procurement market is projected to witness growth at a CAGR of 15.7% during the forecast period, with a market size of USD 26.81 million in 2024.
• Peru Retail Sourcing and Procurement market is projected to witness growth at a CAGR of 16.1% during the forecast period, with a market size of USD 24.70 million in 2024.
• Chile's Retail Sourcing and Procurement market is projected to witness growth at a CAGR of 16.2% during the forecast period, with a market size of USD 21.69 million in 2024.
• The Rest of Latin America's Retail Sourcing and Procurement market is projected to witness growth at a CAGR of 15.0% during the forecast period, with a market size of USD 48.51 million in 2024.

Middle East Retail Sourcing and Procurement

According to Cognitive Market Research, the global Retail Sourcing and Procurement market size was estimated at USD 6025.6 Million, out of which the Middle East and Africa held the major market share of around 2% of the global revenue with a market size of USD 120.51 million in 2024 and will grow at a compound annual growth rate (CAGR) of 16.2% from 2024 to 2031..

• The GCC Countries Retail Sourcing and Procurement market is projected to witness growth at a CAGR of 17.0% during the forecast period, with a market size of USD 51.58 million in 2024. Retail Sourcing and Procurement sales flourish due to Strong economic diversification and retail expansion.
• The Egypt Retail Sourcing and Procurement market is projected to witness growth at a CAGR of 16.5% during the forecast period, with a market size of USD 12.65 million in 2024.
• The South Africa Retail Sourcing and Procurement market is projected to witness growth at a CAGR of 17.2% during the forecast period, with a market size of USD 19.04 million in 2024. Retail Sourcing and Procurement sales flourished in South Africa due to increasing e-commerce and retail expansion.
• The Turkey Retail Sourcing and Procurement market is projected to witness growth at a CAGR of 15.7% during the forecast period, with a market size of USD 10.36 million in 2024.
• The Nigeria Retail Sourcing and Procurement market is projected to witness growth at a CAGR of 15.3% during the forecast period, with a market size of USD 12.65 million in 2024.
• The Rest of the MEA Retail Sourcing and Procurement market is projected to witness growth at a CAGR of 15.2% during the forecast period, with a market size of USD 14.22 million in 2024.

Retail Sourcing and Procurement Market Analysis

How are Segments Performing in the Global Retail Sourcing and Procurement Market?

Retail Sourcing and Procurement Market Solution Segment Analysis

According to Cognitive Market Research, Supplier management is driving the fastest growth in the Retail Sourcing and Procurement Market due to its focus on optimizing relationships with suppliers, ensuring cost-effectiveness, and enhancing product quality. By streamlining supplier selection, negotiations, and performance monitoring, businesses can reduce risks and improve operational efficiency. This approach allows retailers to meet customer demands swiftly, manage inventory better, and maintain competitive pricing, thereby improving profitability and market share. As a result, supplier management has become a key factor in market growth.

Strategic sourcing holds the largest share in the Retail Sourcing and Procurement market due to its focus on optimizing the procurement process by identifying cost-effective suppliers, fostering long-term partnerships, and aligning procurement strategies with business goals. This approach enables retailers to enhance operational efficiency, reduce costs, and improve product quality. By leveraging data analytics, market trends, and supplier performance evaluations, strategic sourcing ensures better decision-making, resulting in a competitive advantage and greater market share for businesses in the retail sector.

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Retail Sourcing and Procurement Industry. Request a Free Sample PDF!

Retail Sourcing and Procurement Market Service Segment Analysis

According to Cognitive Market Research, Training and support plays a crucial role in the fastest-growing segment of the retail sourcing and procurement market by enhancing the efficiency and effectiveness of procurement teams. As companies adopt advanced procurement technologies, training ensures employees can maximize their use. Ongoing support helps address challenges and improves procurement processes, ensuring smoother operations and better cost management. The demand for specialized training and continuous support is driving the growth of this segment, enabling companies to optimize their sourcing and procurement strategies.

In the Retail Sourcing and Procurement Market, Implementation holds the largest share of the Retail Sourcing and Procurement market due to its critical role in transforming sourcing strategies into actionable plans. It encompasses the deployment of technologies, tools, and processes that streamline procurement functions, ensuring cost optimization, supplier management, and improved efficiency. As retailers focus on optimizing their procurement processes to meet consumer demands and reduce operational costs, the implementation phase becomes essential for the success of sourcing strategies, driving its dominant market position.

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Retail Sourcing and Procurement Development Type Outlook: Segment Analysis

Retail Sourcing and Procurement Market Development Type Segment Analysis

According to Cognitive Market Research, On-premises solutions are the fastest-growing segment in the Retail Sourcing and Procurement market due to their ability to provide businesses with complete control over their procurement processes and data. These systems offer enhanced security, customization, and integration with existing IT infrastructures, making them particularly appealing to retailers with complex needs. Additionally, on-premises solutions allow for better compliance with internal policies, greater data ownership, and tailored workflows, driving their rapid adoption in the sector.

In the Retail Sourcing and Procurement market, the rapidly growing sector is Cloud solutions dominates the Retail Sourcing and Procurement Market due to their scalability, flexibility, and cost-efficiency. These platforms enable retailers to streamline procurement processes, enhance collaboration, and gain real-time insights into supplier performance. Cloud-based systems support seamless integration with other business functions, such as inventory management and finance, improving overall efficiency. Additionally, they provide easy access to advanced analytics, fostering better decision-making and supply chain optimization. As retailers increasingly adopt digital solutions, cloud technology is crucial for market growth.

• Cloud
• On-Premises

Retail Sourcing and Procurement User Type Outlook: Segment Analysis

Retail Sourcing and Procurement Market User Type Segment Analysis

According to Cognitive Market Research, Large enterprises hold the fastest-growing share in the Retail Sourcing and Procurement market due to their substantial purchasing power, complex supply chains, and greater need for efficiency in procurement processes. They invest in advanced technologies like AI, automation, and analytics to optimize sourcing, reduce costs, and streamline supplier management. This enables them to secure better deals, increase operational efficiency, and improve strategic decision-making, allowing them to dominate and accelerate growth in the retail procurement sector.

Small and Medium Enterprises (SMEs) are driving the largest growth in the Retail Sourcing and Procurement Market due to their increasing adoption of digital procurement tools and platforms. These businesses are leveraging cost-effective, scalable solutions to streamline their sourcing processes, improve supplier relationships, and manage procurement efficiently. With a focus on enhancing operational agility, SMEs benefit from tailored solutions that support quicker decision-making, lower operational costs, and better supply chain transparency, fueling their significant market growth in this sector.

• Small and Medium Enterprise (SME)
• Large Enterprise

Author's Detail

Vinayak Bali

Senior Research Analyst at Cognitive Market Research

LinkedIn

Profile

Catering to tailored needs of clients in Consulting, Business Intelligence, Market Research, Forecasting, Matrix-Modeling, Data Analytics, Competitive Intelligence, Primary research and Consumer Insights.

Author's Conclusion