The FMCG industry in India anticipates robust double-digit volume-led growth in 2024, propelled by a confluence of factors such as a resurgence in rural demand, increased volumes, and favorable trends in commodity prices. Despite grappling with challenges in 2023, including subdued festive demand and a shortfall in rainfall impacting rural expansion, the industry remains sanguine about a more favorable outlook in the coming year. FMCG companies are poised to leave behind a challenging year and are optimistic about an upturn in consumer demand in the approaching New Year. Industry pundits assert that strategic price reductions by players in the fast-moving consumer goods sector will play a pivotal role in stimulating demand. The year 2023 proved arduous for major FMCG companies, as they contended with sluggish volume growth and battled to safeguard their market share against the emergence of local players amid a cooling off of inflationary pressures.
This week’s edition of “Indian Retail at a glance” shares insightful articles on Healthy snacking market may continue gaining momentum from tier 2 and beyond regions in 2024? What makes India an important driver of growth in the next 10 years?
FMCG flavours: Better volumes, rural demand revival uptick and double-digit volume growth in 2024
From an uptick in rural demand to higher volumes and favourable commodity prices.
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Healthy snacking market may continue gaining momentum from tier 2 and beyond regions in 2024
In the ever-changing food industry of India, a noticeable change has emerged: the rise of healthy snacking.
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Chocolate maker Mondelez steps up rural presence
Mondelez India is tapping into a significant market, as India's more than 600,000 villages are home to nearly 69% of the country's population.
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Some green shoots, but rural a stressor for FMCG companies
At the Confederation of Indian Industry’s FMCG summit, managements of various companies pointed out urban demand continued to grow while rural demand remained under pressure because incomes were under stress in rural areas.
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Sales representatives of Unilever, Parle, ITC among favourites of kirana store owners in 2023, says Kirana Club survey
Among the sales representatives in the FMCG category, HUL’s representatives emerged as the favourite for the kirana community, followed by Parle and ITC Limited, according to a survey among 4500 retailers in the country, by Kirana Club.
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India will be an important driver of growth in the next 10 years: Hein Schumacher, Unilever
On the sidelines of Barclays Fireside Conference, Hein Schumacher, chief executive officer, Unilever, said the multinational company should not be complacent about its market share as that could weaken its historical position. Take a look at the key highlights from Schumacher about the FMCG juggernaut’s global and India market growth and intervention plans.
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FMCG companies eye demand recovery as prices cool
FMCG companies are looking to put a tough year behind and are expecting consumer demand to improve in the New Year. Industry experts said that price reductions by players in the Fast moving consumer goods industry will help boost demand.
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