India FMCG Market

Market Overview: 

The India FMCG market size reached US$ 207.5 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 937.5 Billion by 2032, exhibiting a growth rate (CAGR) of 18.24% during 2024-2032. The rising disposable incomes, changing lifestyles, rapid growth of e-commerce industry, and increased urbanization and modernization, and extensive research and development (R&D) activities by key players represent some of the key players driving the market.

FMCG stands for fast-moving consumer goods that refer to typically high-volume, low-margin goods that are sold in large quantities to retailers, who then sell them directly to consumers. These products are often packaged in small quantities, making them affordable and convenient for consumers.  FMCG products include food, beverages, personal care products, cleaning products, and household items. These products are generally non-durable goods that are consumed or used up quickly and need to be replaced frequently. FMCG products are widely available through retail outlets, supermarkets, and convenience stores, and are often promoted through advertising campaigns and special promotions. One of the defining characteristics of FMCG is the speed at which products move through the supply chain, from manufacturers to retailers and ultimately to consumers. This is achieved through a highly efficient and streamlined supply chain that can handle high volumes of products and rapid turnover. FMCG products play a crucial role in the economy, generating significant revenue and providing employment opportunities across the supply chain. Today, the industry is constantly evolving, with new products and innovations to meet the changing consumer preferences and market trends

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India FMCG Market Trends:

One of the primary factors driving the market is the rapidly increasing population of India. This provides a large consumer base for FMCG companies, with more individuals in the nation requiring daily household products such as food, personal care items, and cleaning supplies. Additionally, significant economic growth and rising income levels of the masses is resulting in increased number of individuals who can afford a wider range of FMCG products, including premium brands and higher-priced items. Other than this, on account of rapid modernization and urbanization across the nation, the lifestyle of the average Indian consumer is changing. For instance, consumers are now seeking healthier food options, leading to a rise in demand for organic and natural products. Apart from this, there is a growing trend toward convenience products, such as ready-to-eat meals and pre-packaged snacks, due to the busy urban lifestyles of the masses. Besides this, rapid growth of e-commerce in India is positively influencing the FMCG market. Online retailers, such as Amazon and Flipkart, offer a wide range of FMCG products and convenient home delivery options. In line with this, with intense competition in the FMCG market, key players are increasingly focused on innovation and product differentiation to stand out, which includes launching new products, developing unique packaging, and improving product quality. Other growth-inducing factors include easy accessibility of these products and extensive research and development (R&D) activities by key players to expand their consumer base.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the India FMCG market report, along with forecasts at the country level for 2024-2032. Our report has categorized the market based on product type, demographics, and sales channel.

Product Type Insights:

• Food and Beverages 
  • Juices and Drinks
  • Tea and Coffee
  • Fresh Food
  • Others
• Personal Care and Cosmetics 
  • Body Care
  • Hair Care
  • Oral Care
  • Skin Care
  • Baby Care
• Health Care 
  • Feminine Care
  • Over the Counter (OTC)
  • Others
• Home Care 
  • Cleaning Products
  • Fragrance
  • Others
• Others
   

The report has provided a detailed breakup and analysis of the FMCG market based on the product type. This includes food and beverages (juices and drinks, tea and coffee, fresh food, and others), personal care and cosmetics (body care, hair care, skin care, baby care), health care (feminine care, over the counter (OTC), others), home care (cleaning products, fragrance, and others), and others. According to the report, food and beverages represented the largest segment.

Demographics Insights:

• Urban
• Rural
   

A detailed breakup and analysis of the India FMCG market based on the demographics has also been provided in the report. This includes urban and rural. According to the report, urban accounted for the largest market share.

Sales Channel Insights:

• Online
• Offline
   

The report has provided a detailed breakup and analysis of the India FMCG market based on the sales channel. This includes online and offline. According to the report, offline represented the largest segment.

Regional Insights:

• Maharashtra
• Tamil Nadu
• Uttar Pradesh
• Gujarat
• Karnataka
• West Bengal
• Rajasthan
• Andhra Pradesh
• Telangana
• Madhya Pradesh
• Delhi NCR
• Punjab
• Haryana
• Others
   

The report has also provided a comprehensive analysis of all the major regional markets, which include Maharashtra, Tamil Nadu, Uttar Pradesh, Gujarat, Karnataka, West Bengal, Rajasthan, Andhra Pradesh, Telangana, Madhya Pradesh, Delhi NCR, Punjab, Haryana, and others. According to the report, Maharashtra was the largest market for India FMCG. Some of the factors driving the Maharashtra FMCG market included population growth, urbanization, and changing consumer preferences.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the India FMCG market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include AB InBev India (Anheuser-Busch InBev SA/NV), Amul, Asian Paints Ltd., Britannia Industries Limited, Coca-Cola India (The Coca-Cola Company), Colgate Palmolive (India) Ltd (Colgate-Palmolive Company), Dabur Ltd., Godrej Consumer Products Limited, Hindustan Unilever Limited (Unilever Plc), ITC Limited, Marico Limited, Nestlé India Limited (Nestlé S.A.), Patanjali Ayurved Limited, PepsiCo (India) Holdings Pvt. Ltd. (PepsiCo Inc.), Procter & Gamble Hygiene and Health Care Limited (The Procter &Gamble Company), etc.. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

India FMCG Market Report Coverage:

Key Questions Answered in This Report:

• How has the India FMCG market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the India FMCG market?
• What is the impact of each driver, restraint, and opportunity on the India FMCG market?
• What are the key regional markets?
• Which countries represent the most attractive India FMCG market?
• What is the breakup of the market based on the product type?
• Which is the most attractive product type in the India FMCG market?
• What is the breakup of the market based on the demographics?
• Which is the most attractive demographics in the India FMCG market?
• What is the breakup of the market based on sales channel?
• Which is the most attractive sales channel in the India FMCG market?
• What is the competitive structure of the India FMCG market?
• Who are the key players/companies in the India FMCG market?

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the India FMCG market from 2018-2032.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the India FMCG market.
• The study maps the leading, as well as the fastest-growing, regional markets.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the India FMCG industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.