Industry Analysis and Changing Trends of Fmcg Sector in India With Reference To Selected Major Fmcg Companies

Savita Trivedi¹ , Jyothi. K.²

Section:Research Paper, Product Type: Journal-Paper
Vol.6 , Issue.10 , pp.35-47, Oct-2020

Online published on Oct 31, 2020

Copyright © Savita Trivedi, Jyothi. K. . This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
 

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Abstract :
In present scenario Fast Moving Consumer Goods (FMCG) sector is the fourth largest sector in the Indian economy and a major contributor to the country’s GDP (Gross Domestic Product). The semi-urban and rural share to the sector is estimated to grow by the end of 2020 and early 2021. The FMCG market is segmented into 4 major categories- Food and Beverages, Personal Care, Household care and Other Products. Among all the segments Foods and Beverages category dominates the industry followed by Personal Care, Household Care and Other Products. The growth in the Foods and Beverages market is aided by change in tastes and preferences, demand for innovative products, easy adaptability to the new products and interest to try out new brands, of the upward middle- class section of the urban area. Moreover, organized retail sector, new product launches of the FMCG companies, increase in the demand for branded products or the demand for the trusted brands etc have a positive influence on the growth of the FMCG sector. Income and spending behaviour provides a way for the sector to grow at 9-10% in 2020. With the growing population in India, consumerism on rise, where the FMCG companies have the opportunity to expand their business and the industry can likely grow further on a much significant pace.

Key-Words / Index Term :
FMCG, market segmentation, FMCG sector, contributing factors, Food and Beverages, Personal & Household care, Urban-Rural contribution

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