Market Summary

The global FMCG market was valued at USD 1.65 billion in 2021 and it is predicted to rise at a compound annual growth rate (CAGR) of 8.56 % from 2022 to 2030. Consumer items that are used regularly and swiftly sold at a competitive price are known as fast-moving consumer goods (FMCG). Furthermore, as compared to durable commodities, these products have a shorter lifespan. Toiletries, packaged food, and over-the-counter medications like aspirin, drinks, and other FMCG items are examples.

The fast-moving consumer goods industry deals with products that are cheaper to produce and buy and are essential for the end-users. Recent years have witnessed an upward trend in e-commerce platforms integrating with the FMCG sector. It is mostly facilitated by consumer behavior change, internet penetration, fast urbanization, and increased disposable income.

“Increasing awareness of E-commerce Globally Fuels the Market”

The technological revolution occurred not just in cities, but also in rural regions. Due to its increased accessibility across the globe, whether in rural or metropolitan regions, there has been a noteworthy shift in e-commerce demand. It provides increased customer convenience since consumers can quickly pick and purchase items of their choosing using apps and websites, and things will be delivered to their homes using the home delivery option.

 
SEGMENT OUTLOOK:

The global FMCG market is segmented based on Type and Distribution Channel.

By Type: 

Based on type, the FMCG market is segmented into solid food & beverages, health care, and personal care. The food and beverage category dominated the FMCG market in 2021, and it is predicted to continue to dominate the worldwide market during the forecast period. Today's consumers are more educated about and receptive to foods and beverages used by people from other cultures. They are driven by a desire to learn new things and are on the lookout for new experiences. Food and beverage companies have been driven to maintain the quality of their offerings as a result of this hunt for new experiences. The trend of healthy eating has also had a significant influence on the food and beverage market's growth. Consumers have grown more health-conscious, and many individuals have started to follow specific diets and wish to enjoy these better options.

Healthcare FMCG market the market's expansion is mostly due to a shift in demand toward self-medication and over-the-counter (OTC) medications. Consumer healthcare goods do not require a documented prescription from a healthcare provider and can be obtained at any pharmacy.

The personal care segment is expected to grow comparatively faster than other FMCG types, witnessing a significant CAGR during 2022-2030. Consumer items used for personal hygiene and attractiveness are referred to as beauty and personal care. Face cleansing, cotton pads, deodorant, eyeliner, facial tissue, hair clippers, lip gloss, lipstick, lip balm, lotion, makeup, hand soap, facial cleanser, body wash, nail files, pomade, perfumes, shaving cream, moisturizer, toothpaste, and shampoo are all examples of beauty and personal care products.

By Distribution Channel:

The FMCG industry has a strong distribution channel that is responsible to drive the growth of the global FMCG market. The supermarket distribution channel led the FMCG market in 2021. The surge in disposable income and the need for a one-stop-shop for all purchasing requirements are driving this segment's growth. Furthermore, the enhanced experience given by these retail formats makes them more appealing to customers. As a result, the supermarket distribution channel portion of the FMCG market is growing. In 2020, Walmart was the world's leading fast-moving consumer goods retailer, with revenues amounting to about XX billion U.S. dollars.

REGIONAL OUTLOOK:

Based on geography, the FMCG market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa

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In 2021, in terms of region, North America is expected to remain dominant and grow at a steady pace in the FMCG market. However, Asia-Pacific is expected to grow at the highest CAGR owing to changes in lifestyles, which are led by globalization and an increase in the working population. The rise in the affluent population and increased penetration of the internet and social media has increased the consumption of processed and packaged food, which makes way for the growth of the FMCG market in the region. Furthermore, innovations in current products and the introduction of new products with attractive pricing are expected to provide growth opportunities for the FMCG market in the future.

By Key Competitors and Market Share Analysis:

As a result, leading firms are focused on maintaining long-term operations and developing manufacturing and distribution capabilities to increase their market position.

The competition among the players is based on numerous parameters including quality, innovation, product offerings, price, and, corporate reputation.

Recent Developments:

o   German startup Vegshelf develops a digital Business-to-Business (B2B) platform connecting healthy, vegan FMCG brands with online stores, supermarkets, and food services.

o   Nigerian startup Chekkit offers a consumer intelligence solution to improve customer engagement. The solution brings FMCG companies closer to those buying their products through personalized messaging and communication

The following are some of the major market players operating across the globe:

o   The Coca-Cola Company

o   Dr. Pepper Snapple Group, Inc.

o   Johnson & Johnson

o   Kimberly-Clark Corporation

o   Nestle

o   Patanjali Ayurved Ltd.

o   Pepsico, Inc.

o   Procter & Gamble

o   Revlon, Inc.

o   Unilever Group