Walmart is on course to break through half a trillion US dollars in sales by 2015, according to IGD research.

But Tesco will grow at a faster rate than its global rivals, including Carrefour and Metro, the body claimed.

The IGD forecasts global growth of 7.5% a year over the period for the UK’s top retailer, taking global revenues to £106.1bn by 2015. Last year Tesco raked in £73.78bn globally.

Walmart will still be the world’s largest retailer in 2015, with annual growth of 4.7% taking global sales to £401.8m. It is expected to break the half a trillion barrier in US dollars in 2014.

“Global retailers that want to achieve the highest growth rates are those building a presence in emerging markets,” said IGD chief executive Joanne Denney-Finch.

“Rapid urbanisation and a growing middle class will create big opportunities in countries like Brazil, China, Russia and India.

“With retailer investment plans heavily focused on these emerging markets, food and drink manufacturers will need to keep pace if they want to be part of the growth.”