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Fast Moving Consumer Goods Market Overview:
In 2021, the fast-moving consumer goods market was estimated to be worth USD 15,315.25 billion. According to projections, the Fast Moving Consumer Goods Market business will expand at a compound annual growth rate (CAGR) of 4.56% from USD 15,829.84 billion in 2022 to USD 22,863.25 billion by 2030. The growing middle class population worldwide and the move towards digitization in rural areas are what are fueling the market’s expansion.
Fast-moving consumer goods, such as food and drink, personal care, healthcare, homecare, electronics, and office supplies, are distributed through the organised retail sector, which is made up of retail formats and units like supermarkets, hypermarkets, large retail chains, and stores. According to data from the India Brand Equity Foundation, organised retail has been growing rapidly in India, one of the major potential markets in the Asia-Pacific area. By 2023 or 2025, there should be about 60 shopping malls operating throughout the country, covering an area of about 23.25 million square feet. Furthermore, the abundance of inexpensive labour and raw materials has led to the robust expansion of the organised retail industry in India, with investments totaling around Euro 4.51 billion between 2000 and 2022.
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Additionally, in 2022, big investments were made in the nation’s retail industry by businesses including Aditya Birla Fashion and Retail Ltd. and Reliance Brands Limited. The patterns in the Indonesian market, which is the region’s second-biggest retail sector after China and India, were comparable. According to Bank Indonesia, the retail industry has been growing strongly over the past several years, as seen by the 13.8% year-over-year rise in 2021 compared to 10.8% in 2020. The market is anticipated to increase during the projected period due to persistently high investments in the retail sector and the entry of multinational corporations into the major Asia-Pacific nations.
Segmentations:
In the Fast Moving Consumer Goods Market, product categories such as food and beverage, tobacco and tobacco products, beauty and personal care, healthcare, homecare, electronics, and office supplies are divided based on product type. In 2022, the food and beverage category accounted for the overwhelming share.
The Fast Moving Consumer Goods Market is segmented into in-house and contract based manufacturing types depending on production type. In 2022, the contract-based segment accounted for approximately 55–60% of the total share.
The Fast Moving Consumer Goods Market is segmented into store-based and non-store-based segments based on the kind of product. In 2022, the store-based sector accounted for the bulk of the market, contributing around USD 9,619.70 billion in value.
Regional Analysis:
The market is divided into three regions by the study: Europe, Asia-Pacific, and Africa. The fastest-moving consumer goods market in the Asia-Pacific area now has the most market share of any region. Asia-Pacific, which includes Australia & New Zealand, China, India, Japan, and the rest of Asia-Pacific, is the most populous region in the world. Due to the growing tactics used by governmental and non-governmental organisations to support the electronic sector, which is projected to have a favourable impact on the industry’s growth in the next years, the FMCG market is anticipated to expand throughout the area. Taking advantage of the scale of its digital market and its strengths in the information technology industry, India is aggressively working to enhance its domestic production capacity in the electronics sector.
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Key Players:
Key Companies in the Fast Moving Consumer Goods market include
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