Just like its name, FMCG domain requires agile and robust solutions to streamline inventory management and market offerings efficiently. We have helped a number of FMCG businesses in improving operations and strengthening their digital footprint through customized solutions.
India's fast-moving consumer goods (FMCG) industry has been growing rapidly in recent years, driven by rising disposable incomes, a growing middle class, and increasing urbanization. In 2021, the FMCG sector in India was valued at around US$50 billion, and it is expected to continue growing in the coming years, with a projected compound annual growth rate of around 20% by 2025.
As incomes rise in India, consumers are more likely to spend on non-essential goods and services, including FMCG products. India's middle class is expected to reach around 547 million people by 2023, significantly boosting the FMCG sector.
As more and more people move to urban areas, the demand for FMCG products is likely to increase as these products are more readily available in urban areas. The Indian government has implemented various initiatives to support the growth of the FMCG sector, such as the 'Make in India' campaign, which aims to boost domestic manufacturing and increase exports.
According to a report by the Confederation of Indian Industry (CII), the FMCG sector in India was expected to reach a value of around US$103 billion by 2020, up from US$49.5 billion in 2015. According to a report by Euromonitor International, the global FMCG industry was valued at around US$11.2 trillion in 2020.
The Asia-Pacific region is the largest market for FMCG products, accounting for around 40% of global sales. China is the largest market in the region, followed by India and Indonesia.
The global FMCG industry is highly competitive, with many companies operating in the market. A few large multinational corporations dominate the industry, but there is also a significant presence of small and medium-sized enterprises (SMEs).
A report by KPMG projects that the FMCG sector in India will grow at a compound annual growth rate (CAGR) of around 17% between 2016 and 2021. The FMCG sector accounts for around 2.5% of India's gross domestic product (GDP) and is one of the largest sectors in the country in terms of production, consumption, and export. The FMCG sector is highly diverse, with a wide range of products, including personal care, food and beverages, home care, and health and wellness products.
A few large multinational companies dominate the FMCG industry, but there is also a significant presence of small and medium-sized enterprises (SMEs). Overall, the FMCG industry is expected to grow rapidly in the coming years, driven by rising incomes, a growing middle class, and increasing urbanization.
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