Indian FMCG Market Forecast 2024-2030: Trends, Growth, and Key Insights

Spread the love

Market Overview

The Indian FMCG market is one of the largest and fastest-growing in the world. It encompasses a wide range of consumer products, including food and beverages, personal care, home care, and healthcare products. Increasing disposable income, urbanization, and the rise in demand for convenience-oriented and health-conscious products are key factors contributing to the market’s growth. The shift toward e-commerce and online retail has also provided new growth avenues for FMCG brands.

The size of the Indian FMCG market was estimated at USD 230.14 billion in 2023, and it is anticipated that the country’s overall FMCG income will increase at a compound annual growth rate (CAGR) of 279 percent between 2024 and 2030, to reach approximately USD 1288.50 billion.

Key Developments in the Indian FMCG Market

  • Rising Demand for Health and Wellness Products: Post-pandemic, Indian consumers have become more health-conscious, leading to an increase in demand for health and wellness products, including organic food, natural personal care items, and fitness supplements.
  • E-commerce Boom: The rise of e-commerce platforms has revolutionized the FMCG sector. Online shopping is expected to continue to gain traction as consumers seek convenience, variety, and better prices. Major FMCG brands are focusing on strengthening their digital presence and expanding direct-to-consumer (D2C) models.
  • Sustainability and Eco-friendly Packaging: With growing concerns about environmental impact, there is a shift toward sustainable practices in packaging. Consumers are demanding products with eco-friendly and recyclable packaging, and FMCG brands are responding by innovating packaging solutions.

Eager to discover what’s within? Secure your sample copy of the report today:https://www.maximizemarketresearch.com/request-sample/29038/ 

Regional Developments

  • Vietnam, Thailand, Singapore: Southeast Asia is emerging as a key manufacturing hub for FMCG products that are exported to India. Brands are also looking to expand their presence in India’s growing rural markets, leveraging these countries’ supply chain expertise.
  • Japan & South Korea: Japanese and South Korean FMCG brands are increasingly investing in India due to the market’s potential. Products from these countries are gaining popularity, especially in categories like skincare, health supplements, and home care products.
  • Europe & US: European and American FMCG giants continue to strengthen their positions in India through strategic partnerships, mergers, and acquisitions. The demand for international brands in the Indian market, particularly in premium and organic segments, is growing rapidly.

Intrigued to explore the contents? Secure your hands-on sample copy of the report:https://www.maximizemarketresearch.com/request-sample/29038/ 

Mergers and Acquisitions in the Indian FMCG Market

Several high-profile mergers and acquisitions have shaped the Indian FMCG market:

  • Hindustan Unilever and GlaxoSmithKline: Hindustan Unilever (HUL) acquired GlaxoSmithKline’s (GSK) consumer health division in a landmark deal worth INR 33,000 crore. This acquisition has allowed HUL to significantly expand its health and wellness product portfolio, adding popular brands like Horlicks and Boost to its roster.
  • ITC and Sunrise Foods: ITC has entered the health foods segment with the acquisition of Sunrise Foods, a leading manufacturer of healthy snack products. The acquisition aligns with ITC’s strategy of expanding its food division and tapping into the growing demand for health-conscious products.
  • Nestlé India and Milkfood: Nestlé India has acquired a controlling stake in Milkfood, a leading dairy producer. This acquisition strengthens Nestlé’s presence in the dairy market, particularly in the growing segment of nutritional dairy products.
  • Procter & Gamble (P&G) and Vicks: P&G has completed a strategic acquisition of Vicks from a regional competitor to expand its portfolio of healthcare products in India. The move enhances P&G’s foothold in the growing healthcare and personal care market.

Inquire for More Details:https://www.maximizemarketresearch.com/request-sample/29038/ 

Indian FMCG Market Segmentation:

by Product Type

Food & Beverages
Personal Care
Household Care
Health & Wellness
Others

Due to factors including growing urbanization, shifting lifestyles, and increased disposable incomes, the Food & Beverages segment has dominated the Indian FMCG industry in 2023. The increasing demand for packaged snacks, ready-to-eat meals, beverages, and convenience foods favors this market. The market is significantly shaped by prominent Indian FMCG businesses such as Britannia Industries, ITC, and Nestlé India. Products like Britannia biscuits, PepsiCo drinks, and Maggi noodles have become commonplace in homes. This market sector is also developing as a result of consumers’ increasing choice for healthier food options including organic and fortified meals.

by Distribution Channel

Traditional Retail
Convenience Stores
Super Markets
Hyper Markets
Online
Others

The Online Retail sector has led the market in 2023 and is likely to maintain its dominance through the forecast period with a growing CAGR. In recent years, online shopping has grown in popularity. Even while offline sales, which include Kirana stores, still account for the majority of all Indian FMCG retail sales, the expansion of online shopping trends, particularly e-commerce, is steadily surpassing the growth of Indian FMCG products in offline trade.

by Price Segment

Premium
Mid-range
Economy

by End-User

Households
Commercial

Want a comprehensive market analysis? Check out the summary of the research report:https://www.maximizemarketresearch.com/market-report/indian-fast-moving-consumer-goods-fmcg-market/29038/ 

Indian FMCG Market Key Players:

  • Hindustan Unilever Limited (HUL): HUL is the market leader in India’s FMCG sector, with a wide portfolio that includes food, beverages, personal care, and home care products. The company continues to innovate with new products and sustainable packaging solutions.
  • Nestlé India: Nestlé is a key player in the Indian FMCG market, known for its products in food and beverages, nutrition, and wellness. Nestlé has been expanding its portfolio to meet the growing demand for health-conscious and organic products.
  • Procter & Gamble (P&G): P&G is a leading global player in India’s FMCG space, offering a wide range of personal care, home care, and health products. The company continues to focus on product innovation and sustainability to appeal to Indian consumers.
  • ITC Limited: ITC is one of India’s largest FMCG companies, with significant market share in foods, personal care, and tobacco. ITC is making significant strides in the health and wellness sector, particularly with its focus on natural and organic products.

1. Hindustan Unilever Limited (HUL)
2. Procter & Gamble (P&G)
3. Nestlé India
4. ITC Limited
5. Dabur India Limited
6. Godrej Consumer Products Limited (GCPL)
7. Marico Limited
8. Britannia Industries
9. Colgate-Palmolive (India) Limited
10. Parle Products Pvt. Ltd.
11. Coca-Cola India
12. PepsiCo India
13. Amul (Gujarat Co-operative Milk Marketing Federation)
14. Mahindra Agribusiness
15. Patanjali Ayurved Limited
16. Reckitt Benckiser India Ltd.
17. Asian Paints Limited
18. Bajaj Consumer Care Ltd.
19. Emami Limited
20. Kama Ayurveda
21. Other

Discover What’s Trending:

Global Neem Oil Market https://www.maximizemarketresearch.com/market-report/global-neem-oil-market/100072/

Body Oil Market https://www.maximizemarketresearch.com/market-report/global-body-oil-market/70042/

About Maximize Market Research :

Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

Contact Maximize Market Research :

3rd Floor, Navale IT Park, Phase 2

Pune Banglore Highway, Narhe,

Pune, Maharashtra 411041, India

[email protected]

+91 96071 95908, +91 9607365656

India Electric Motor Market Growth in Electric Vehicle and Battery Applications: Forecast 2024-2030


Spread the love