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The FMCG market share is expected to increase to USD 310.5 billion from 2021 to 2026, at a CAGR of 2.27%.
This FMCG market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers FMCG market segmentations by type (food and beverage, personal and beauty care, health and hygiene care, and home care) and geography (APAC, North America, Europe, Middle East and Africa, and South America). The FMCG market report also offers information on several market vendors, including Anheuser Busch InBev SA, Dabur India Ltd., Heineken NV, ITC Ltd., JBS SA, Johnson and Johnson, Kellogg Co., Keurig Dr Pepper Inc., Kimberly Clark Corp., LOreal SA, Mondelez International Inc., Nestle SA, Patanjali Ayurved Ltd., PepsiCo Inc., Tata Sons Pvt. Ltd., The coca cola co., The Kraft Heinz Co., The Procter and Gamble Co., The Wadia Group, and Unilever PLC among others.
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The growing preference for e-commerce online distribution is notably driving the FMCG market growth, although factors such as lack of proper infrastructure in emerging economies may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the FMCG industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key FMCG Market Driver
The growing preference for e-commerce online distribution is one of the key drivers supporting the fast-moving consumer goods (FMCG) market growth. Fundamentally, e-commerce platforms allow consumers to collect information and compare various food and beverages, personal care, skincare, cosmetics, and hair care products available on the website. Similarly, FMCG vendors also provide reviews of prior consumers on their products on their official websites. This trend of sharing reviews and feedback on products through e-commerce platforms influences the purchasing behavior of new consumers. Therefore, with the growing trend of online retailing, the sales of FMCG products through online channels are expected to increase globally during the forecast period.
Key FMCG Market Trend
The rising consumption of ready-to-eat food products is one of the key fast-moving consumer goods market trends fueling the market growth. For instance, according to research issued in 2020 by Standard Process Inc., a US-based food supplements firm, processed foods accounted for nearly 70% of the American diet. Moreover, during the pandemic in 2020, there was a massive increase in demand for ready-to-eat food products as most individuals were working from home and countries were under lockdowns. In 2020, one of India's online grocery stores, Blinkit, reported a 17% increase in sales in the ready-to-eat category, a 31% increase in readymade meals and mixes, and a 41% increase in frozen food, indicating a sudden consumer shift from home-cooked food to ready-to-eat food products. Thus, it can be predicted that this shift in consumer behavior will significantly boost the global FMCG market during the forecast period.
Key FMCG Market Challenge
The lack of proper infrastructure in emerging economies is one of the factors hampering the fast-moving consumer goods (FMCG) market growth. Despite having high demand, APAC lacks the proper infrastructure for storing and manufacturing food processing ingredients like preservatives, emulsifiers, enzymes, and others. These ingredients need proper handling and care in terms of maintaining a specific temperature for their storage and preventing them from contamination as it may lead to changes in their chemical compositions. The storage and manufacturing facilities are not only needed at the final site where they are sold but also during the supply chain to retain their original properties. Moreover, the technologies used for producing the ingredients are not as advanced as compared with those used in developed nations such as the US and Canada. This may hinder the fast-moving consumer goods (FMCG) market growth during the forecast period.
This fast-moving consumer goods market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global fast-moving consumer goods (FMCG) market as a part of the global packaged foods and meats market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the fast-moving consumer goods market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the fast-moving consumer goods market encompasses successful business strategies deployed by the key vendors. The fast-moving consumer goods market is fragmented and the vendors are deploying growth strategies such as quality, price, service, brand image, distribution, and marketing to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The fast-moving consumer goods market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the fast-moving consumer goods (FMCG) market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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29% of the market's growth will originate from North America during the forecast period. The US is the key market for the fast-moving consumer goods (FMCG) market in North America. Market growth in this region will be faster than the growth of the market in Europe and APAC.
Another key region offering significant growth opportunities to vendors is APAC. Rising disposable income will facilitate the fast-moving consumer goods (FMCG) market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
In 2020, most industrial operations were adversely affected by the outbreak of COVID-19 in the region which negatively impacted the market growth. However, the demand from non-essential businesses is expected to rise following the gradual resumption of operations by end-user industries and the adoption of new strategies by vendors to recover from the impact of the pandemic during the forecast period. In addition, the production of COVID-19 vaccines worldwide is expected to boost the demand for the products of the FMCG during the forecast period.
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The fast-moving consumer goods (FMCG) market share growth by the food and beverage segment will be significant during the forecast period. Packaged food and frozen food materials are popular among the world's urbanized population. The increased demand for processed foods is fueled by an expanding global middle-class population and an increase in the number of working women. For frozen foods, long shelf life is an important marketing feature. Frozen food makers develop new techniques to extend the shelf life of their products. Therefore, these factors of the food and beverage segment will drive the fast-moving consumer goods (FMCG) market growth during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the fast-moving consumer goods (FMCG) market size and actionable market insights on post COVID-19 impact on each segment.
Metaverse in FMCG market - The market share is expected to increase to USD 2.11 billion from 2021 to 2026 at an accelerating CAGR of 21.8%.
FMCG Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Decelerate at a CAGR of 2.27% |
Market growth 2022-2026 |
USD 310.5 billion |
Market structure |
Fragmented |
YoY growth (%) |
2.52 |
Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
Performing market contribution |
North America at 29% |
Key consumer countries |
US, China, India, Russia, and Germany |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Anheuser Busch InBev SA, Dabur India Ltd., Heineken NV, ITC Ltd., JBS SA, Johnson and Johnson, Kellogg Co., Keurig Dr Pepper Inc., Kimberly Clark Corp., LOreal SA, Mondelez International Inc., Nestle SA, Patanjali Ayurved Ltd., PepsiCo Inc., Tata Sons Pvt. Ltd., The coca cola co., The Kraft Heinz Co., The Procter and Gamble Co., The Wadia Group, and Unilever PLC |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Type
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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