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Fast Moving Consumer Goods Market Synopsis
In 2021, the size of the fast-moving consumer goods market was estimated at USD 15,315.25 billion. The market for fast-moving consumer goods is anticipated to increase from USD 15,829.84 billion in 2022 to USD 22,863.25 billion in 2030, with a compound annual growth rate (CAGR) of 4.56% over the forecast period (2023- 2030). Global middle class growth as well as the trend of digitalisation in rural marketplaces are what are fueling market expansion.
One of the key distribution channels for fast-moving consumer goods, such as food and beverages, personal care, healthcare, homecare, electronics, and office supplies products, is 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, one of the major potential markets in the Asia-Pacific region, organised retail has been growing rapidly over the years. By the years 2023 to 2030, it is anticipated that 60 shopping malls covering an area of about 23.25 million square feet will be open throughout the country.
The Indonesian market, which is the region’s third-largest retail market after China and India, has similar tendencies. The retail industry has shown tremendous growth throughout the years, according to Bank Indonesia, with year-over-year growth of 13.8% in 2021 as opposed to 10.8% in 2020.
Throughout the forecast period, the market is anticipated to develop due to ongoing and significant investments in the retail sector as well as the entry of international firms in major nations in the Asia-Pacific region.
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Key Companies in the Fast Moving Consumer Goods market include
Nestle S.A.
Pepsico Inc.
Coca Cola
Unilever
Tyson Foods
Procter & Gamble Co.
L’OREAL SA
ANHEUSER-BUSCH INBEV
JBS Foods
Kraft Heinz
Segmentation
The Fast Moving Consumer Goods Market is segmented based on product type and comprises the following categories: food & beverages, tobacco & tobacco products, cosmetics & personal care, healthcare, homecare, electronics, and office supplies. In 2022, the food and beverage industry represented the majority of the market.
The Fast Moving Consumer Goods Market is segmented into in-house and contract-based production types. In 2022, the contract-based segment had the lion’s share of the market, accounting for roughly 55–60% of total sales in the fast-moving consumer goods market.
Store-based and non-store-based segmentations of the fast-moving consumer goods market are based on product type. In 2022, the store-based category had the lion’s share of the market.
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Regional Insights
The market is divided into three regions in the study: Europe, Asia-Pacific, and Africa. The fastest-growing market share among all regions in the fast-moving consumer goods market has been held by Asia-Pacific. The Asia-Pacific region, which includes Japan, China, India, Australia & New Zealand, and the rest of Asia-Pacific, is the most populous place on earth. Due to the rising methods used by governmental and non-governmental organisations to enhance the electronic sector, which is projected to favourably influence its market growth in the coming years, the FMCG market is anticipated to increase throughout the area. Taking advantage of the scale of its digital market and its advantages in the information technology industry, India is actively working to enhance its domestic production capacity in the electronics industry.
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