grocery store vs market place

grocery store and market place both are nouns.

Word	Noun	Adjective	Verb	Adverb
grocery store	Yes	No	No	No
market place	Yes	No	No	No

As nouns, market place is a hypernym of grocery store; that is, market place is a word with a broader meaning than grocery store:

grocery store: a marketplace where groceries are sold
market place: an area in a town where a public mercantile establishment is set up

Other hypernyms of grocery store include market, marketplace, mart.

grocery store (noun)	market place (noun)
a marketplace where groceries are sold	the world of commercial activity where goods and services are bought and sold
	an area in a town where a public mercantile establishment is set up