FAST MOVING CONSUMER GOODS(FMCG)

What Are Fast-Moving Consumer Goods (FMCG)?

Fast-moving?consumer goods?are products that sell quickly at relatively low cost. These goods are also called?consumer packaged goods.

FMCGs have a short shelf life because of high consumer demand (e.g., soft drinks and confections) or because they are perishable (e.g., meat, dairy products, and baked goods). These goods are purchased frequently, are consumed rapidly, are priced low, and are sold in large quantities. They also have a high turnover when they're on the shelf at the store.

FMCG TYPES AND SECTORS

FMCGs can be divided into several different categories, including:

• Processed foods: Cheese products, cereals, and boxed pasta
• Prepared meals:?Ready-to-eat meals
• Beverages:?Bottled water, energy drinks, and juices
• Baked goods: Cookies, croissants, and bagels
• Fresh foods, frozen foods, and dry goods: Fruits, vegetables, frozen peas and carrots, and raisins and nuts
• Medicines: Aspirin, pain relievers, and other medication that can be purchased without a prescription
• Cleaning products:?Baking soda, oven cleaner, and window and glass cleaner
• Cosmetics and toiletries: Hair care products, concealers, toothpaste, and soap
• Office supplies:?Pens, pencils, and markers

TOP 10 FMCG COMPANIES IN INDIA

The Fast Moving Consumer Goods (FMCG) Industry in India include segments like cosmetics, toiletries, glassware, batteries, bulbs, pharmaceuticals, packaged food products, white goods, house care products, plastic goods, consumer non durables, etc. The FMCG market is highly concentrated in the urban areas as the rise in the income of the middle-income group is one of the major factors for the growth of the Indian FMCG market.

FUTURE OF FMCG SECTOR IN INDIA

With household goods and personal care products amounting to up to 50 percent of FMCG sales in the country, the FMCG sector has proven to be India's fourth-largest income-generating sector. The evolution in the lifestyle of Indians across the semi-urban and rural segments has primarily contributed to the surge in revenue generated by the FMCG sector in the country. While the urban segment of India contributes to almost 55 percent of FMCG sales, there has been a faster and broader growth for the FMCG sector in rural India. As a result, almost 50 percent of the money spent in rural India has been spent on an FMCG product.

With a growth rate of 14.7 percent, the FMCG sector has been projected to grow to a market size of almost US$ 220 billion by 2025. Furthermore, with the sudden change in the corporate working world, where work from home has become a reality for many, the FMCG sector is also experiencing a change.?