Fast Moving Consumer Goods (FMCG) Market Research Report Information By Type (Food & Beverage, Tobacco & Tobacco Products, Beauty & Personal Care, Healthcare, Homecare, Electronics, and Office Supplies), Production Type (Inhouse and Contract Based), Distribution Channel (Store Based and Non-Store Based), and By Region (North America, Europe, Asia-Pacific, and the Rest of the World) - Forecast Till 2032

Global Fast Moving Consumer Goods (FMCG) Market Overview

Fast Moving Consumer Goods (FMCG) Market Size was valued at USD 15,315.25 billion in 2023. The Fast Moving Consumer Goods (FMCG) Industry is projected to grow from USD 15,829.84 billion in 2024 to USD 22,863.25 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.56% during the forecast period (2024 - 2032). The rising middle class population across the globe along with trend of digitalization in rural markets are driving the market growth.

Figure 1: Fast Moving Consumer Goods Market (USD Million)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Fast Moving Consumer Goods Market Trends

• Growth Of the Organized Retail Sector in the Asia-Pacific Region

The organized retail sector composed of retail formats and units like supermarkets, hypermarkets, big retail chains, and stores, is one of the key distribution channels in the fast-moving consumer goods including food & beverages, personal care, healthcare, homecare, electronics, and office supplies products. India, one of the key potential markets in the Asia-Pacific region has been witnessing strong growth in the organized retail sector space over the years, according to the India Brand Equity Foundation data, by the year 2023 to 2025, there are around 60 shopping malls span around an area of 23.25 million square feet is expected to be operational across the nation. Further, the country’s retail sector has received an investment of around Euro 4.51 billion between 2000 and 2022 owing to the wide availability of low-cost labor and raw materials have resulted in the strong growth of the organized retail sector in India. Lulu Group, one of the leading retail companies based out of the United Arab Emirates has planned to invest around Euro 254.78 million in opening shopping malls across various states in the country. 

In addition to this, companies like Aditya Birla Fashion and Retail Ltd and Reliance Brands Limited have made significant investments in the retail sector in the country in 2022. Similar were the trends in the Indonesian market, the next largest retail sector to China and India in the region. Bank Indonesia highlighted that the retail sector has been showcasing strong growth over the years marked by the year-on-year growth of 13.8% in 2021 compared to 10.8% in 2020. The continuous and strong investments in the retail sector along with the entry of global companies in the key countries in the Asia-Pacific region are expected to drive the growth of the market during the forecast period.

Fast Moving Consumer Goods Market Segment Insights

Fast Moving Consumer Goods Type Insights

Based on product type, the Fast Moving Consumer Goods Market segmentation includes food & beverage, tobacco & tobacco products, beauty & personal care, healthcare, homecare, electronics, and office supplies. The food & beverages segment held the majority share in 2022 contributing to around a market value of USD 9216.52 billion of Fast Moving Consumer Goods Market revenue. The growing population across various regions of the world is likely to increase the demand of various food and beverages products which in turn would boost its market growth in the upcoming years. As a part of this, according to the Food and Agriculture Organization, between 2009 and 2050, the world's population is projected to increase by more than a third, or 2.3 billion people. This is considerably slower with 3.3 billion people, or more than 90% of its current population, were added during the previous 40 years of expansion. According to projections, developing nations will see almost all this expansion. Sub-Saharan Africa will experience the largest population growth among the latter group (+114%), while East and Southeast Asia would experience the slowest (+13%). Urban areas are expected to account for 70 percent of the world's population in 2050 (up from 49 percent now), whereas rural populations are predicted to decline after reaching a peak somewhere in the next decade.  January 2023 Colombia’s Bavaria invests in the new brewery to drive long-term growth. Colombia, the local AB InBev brewer, Bavaria, has announced the construction of a new brewery in the northern region municipality of Palmar de Varela. The investment being made by Bavaria amounts to roughly EURO 378.4 million. More than 1,500 jobs are expected to be created during the construction phase. Once operational, the brewery is expected to generate 350 direct jobs and 7,000 indirect jobs.

May 2023 IHOP and Kraft Heinz company has established a partnership to open syrup-flavored coffee in various stores across the region of Chicago.

January 2023 Loreal SA has launched new CES technology to develop the new products in the category of the beauty segment. The new technology developed by the company has expanded the sales of the beauty products.

Figure 2: Fast Moving Consumer Goods Market, By Production Type, 2022 & 2030 (USD Million)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Based on production type, the Fast Moving Consumer Goods Market segmentation includes inhouse and contract based. The contract-based segment held the majority share in 2022 contributing to around ~55-60% of the Fast Moving Consumer Goods Market revenue. Contract manufacturing enables companies to maintain reliable production of high-quality goods. By establishing that standard, the company can increase brand recognition and earn a reputation as a trustworthy distributor. Better business relationships with possible collaborators and future contractors may result from this as well. However, some of the drawbacks associated with contract-based manufacturing includes limited control. As a part of this, there are features and requirements that the hiring company wants in a product. Up until the product is given up for review, the company has very little influence once those desires have been expressed. The manufacturing and production of the product are mostly outside the client's control. Contrarily, the contract manufacturer often has little to no influence over the design of the product. Although the contractor is permitted to offer suggestions, there is no assurance that they will be accepted. The contract based segment is expected to grow at a market CAGR of 7.21%

March 2023 P & G launched Vgrow program, for innovation of its new products specially in Malaysia and Singapore. The program further helped the company to accelerate the innovative products.

July 2022 L’Oréal has announced its relaunch of luxury beauty brand, Lancôme, to India. This development further enhances the growth of the products in the region.

April 2022 Anheuser-Busch had launched New Brew Inspired by Ukraine’s Most Loved Beer Brand Chernigivske, With Profits Supporting Humanitarian Relief Efforts. Chernigivske had been produced at Anheuser-Busch’s Newark, New Jersey brewery and is on draught in Los Angeles, New York City, Chicago, Houston, and Phoenix beginning in May. New Chernigivske-inspired beers is also introduced by AB InBev affiliates in Canada and Colombia, and as previously announced in the UK and eight other markets across Europe, with profits going toward Ukrainian humanitarian relief.

Fast Moving Consumer Goods Distribution Channel Insights

Based on product type, the Fast Moving Consumer Goods Market segmentation includes store based and non-store based. The store based segment held the majority share in 2022 contributing to around a market value of USD  9,619.70 billion of Fast Moving Consumer Goods Market revenue. Store-based distribution channel usually includes supermarkets & hypermarkets, specialty stores, departmental stores and many more. A supermarket and hypermarket are usually a large retail space where products are displayed so that customers can choose what they want. Customers always fill a trolley from the shelf with what they desire, then have the counter clerk charge their credit card. The expanding advantages that supermarkets and hypermarkets have, like operating on a self-service basis, providing a variety of goods discounts accessible on various commodities, giving customers freedom of choice, and making significant profits, are expected to drive the market's expansion. Furthermore, the presence of many supermarkets across various regions of the world, coupled with the frequent visit of consumers there is likely to contribute to its overall segment growth. For instance, according to MRFR analysis, 88% of UK customers usually shopped at supermarkets for food and other necessities in 2022. Another study found that one-third of consumers made two to three weekly trips to the store to buy food. The non-store based segment is expected to witness the growth at a CAGR of 7.79% during the forecast period. 

Fast Moving Consumer Goods Regional Insights

By Region, the study segments the market into Europe, Asia-Pacific, and Africa. Asia-Pacific Fast Moving Consumer Goods market has held the largest market share among the region in the Fast Moving Consumer Goods Market. Asia-Pacific is the most populated region in the world, consisting of some of the major economies, including Japan, China, India, Australia & New Zealand, and Rest of Asia-Pacific. The FMCG market is expected to grow across the region owing to the increasing strategies adopted by governmental as well as non-governmental organizations to strengthen the electronic sector which is set to positively influence its market growth in the upcoming years. As a part of this, India is actively seeking to increase its domestic manufacturing capacity in the electronics sector, taking advantage of the size of its digital market and its strengths in the information technology sector. Accordingly, the National Policy on Electronics 2019 (NPE 2019), which was authorized in February of that year to replace the NPE 2012, was announced by the Ministry of Electronics and Information Technology (MeitY). In addition, by enhancing local capacity to create key components, such as chipsets and 5G telecom equipment, India hopes to establish itself as a worldwide centre for electronics system design and manufacturing (ESDM) through NPE 2019. The policy initiatives and programs put in place under NPE also foster a climate that is favorable for business and investment, which helps the sector be more competitive internationally. The Indian government has developed several incentives and programs to increase electronics production. These include financial incentives for sizable investments in the semiconductor manufacturing industry, assistance with export promotion, and support for export promotion.

The major countries studied are the China, Japan, India, Australia & New Zealand, Germany, France, Italy, Spain, UK, South Africa, Nigeria, Ghana, and Kenya.

Figure 3: FAST MOVING CONSUMER GOODS MARKET SHARE BY REGION, 2022 & 2030 (USD Million)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

The Europe Fast Moving Consumer Goods market has the second largest market share. Europe basically includes Germany, France, Italy, Spain, UK and Rest of Europe are all included in the analysis of the European market. Europe continues to hold a significant share in the Fast Moving Consumer Goods Market, owing to the increasing initiatives taken by key players to expand the production of various beverages across the region which in turn would boost its market growth. As a part of this, in June 2023, Carlsberg Group invested in Ukraine to upgrade The Kyiv Brewery's production line to enhance the yield capacity of canned goods by 80%. One of the company's biggest investment initiatives for the year is represented by the action. The newly created production line will be used to produce products for a variety of brands, including Lvivske, Carlsberg, Kronenbourg 1664, Arsenal, Kvas Taras, Somersby, Seth & Riley's Garage, Staropramen, Miller Genuine Draught and Battery. Cider, energy drinks, soft drinks, and beer (alcoholic and non-alcoholic) are popular goods being bottled

Fast Moving Consumer Goods Key Market Players & Competitive Insights

The key companies are increasing their investment in research & development to innovate and add new features in the Fast Moving Consumer Goods which is expected to boost the growth of the market further. In recent years, there has been a trend towards consolidation in the FMCG market, with larger players acquiring smaller ones in order to expand their product portfolios and reach new markets. This trend is likely to continue in the coming years, as companies look for ways to grow their businesses in a challenging market environment.

One of the key business strategies deployed by the Fast Moving Consumer Goods industry to gain a competitive advantage among the competitors is investment along with product launch. Also, strategic partnerships with new startups and small-scale manufacturers augment the production capacity to meet the increasing demand for various Fast Moving Consumer Goods types in the market.

Nestlé S.A. is among the world’s largest food and drinks processing companies. The Switzerland-based company is engaged in the production and marketing of nutrition, health, and wellness products. Which is primarily involved in the production, sales, and marketing of a wide range of nutrition and wellness products, including prepared dishes and milk-based products, pharmaceuticals, ophthalmic goods, cooking aid, baby foods, and cereals. Its product portfolio includes 2,000 brands offering a wide range of baby foods, breakfast cereals, confectionery products, dairy products, coffee and tea, medical food, frozen food, bottled water, snacks, infant food, and pet care products. Nespresso, Nescafé, Kit Kat, Smarties, Nesquik, Stouffer's, Vittel, and Maggi are among the popular brands of the company operating globally. The company has 447 factories and operates in 189 countries across the globe.

Moreover, Operates through seven enterprise segments, particularly Powdered and Liquid Beverages, Water, Milk Products and Ice Cream, Nutrition, and Health Science, Prepared Dishes and Cooking Aids, Confectionery, and Pet Care. The employer provides numerous meals merchandise with its famous brand names like the Nescafé, Maggi, Nestea, Stouffer's, Milo, Chef, Chef-Mate, Sjora, Minor's, and Lean Cuisine manufacturers. It has also developed more than 20 research and development facilities across the globe. The company offers its products in more than 186 countries across the regions of Europe, Africa, the Americas, and Oceania.

PepsiCo, Inc. is a leading global food & beverage company with a complementary portfolio of brands, including Frito-Lay, Gatorade, Pepsi-Cola, Quaker, and Tropicana, Aquafina, and Bubly. Its product portfolio includes various fast-shifting client items which include tender beverages, juices, chips, snacks, oatmeal, cereals, and different food items. Further, the company has been working with various partners across the globe which prominently deal in the various distribution channels and production processes. To keep ahead in the stiff competition, it has been constantly dealing with multiple acquisitions.

Additionally, the company markets distribute, and sells a wide variety of convenience beverages, foods, and snacks, serving consumers in more than 200 countries and territories through operations, authorized bottlers, contract manufacturers, and other third parties. It offers flavored water through its Aquafina and Bubly brands. PepsiCo's product portfolio includes 23 brands that generate more than a billion of estimated revenue. The company operates through six divisions—Frito-Lay North America, North America Beverages, Europe Sub-Saharan Africa, Quaker Foods North America, and Latin America. The company is dedicated to evolving its product portfolio to better meet the wishes of customers whilst additionally lowering its impact on the surroundings.

• Nestle S.A.


• Pepsico Inc.


• Coca Cola


• Unilever


• Tyson Foods


• Procter & Gamble Co.


• L'OREAL SA


• ANHEUSER-BUSCH INBEV


• JBS Foods


• Kraft Heinz

Fast Moving Consumer Goods Industry Developments

March 2021: Nestle Sa has launched its two new syrup categories which ultimately taste like freshly-baked cookies. The launch of this product further enhances the sectoral growth of the business..

July 2021: PepsiCo announced its new products with reduced sugar content by 25% in sodas and iced tea in the European region. Through this technology the company aims to catch the attention of health-conscious consumers.

June 2023: Nestle SA has launched its two new plant-based dairy alternative products, under its Barista brand name. The development has taken place in the Chinese market wherein it will focus on the oat and pea-based food products in the market.

May 21, 2024: PepsiCo Beverages North America (PBNA) announced today that it is growing its fleet of electric vehicles throughout the state of California. Within the next few months, the Fresno, California-based company will be operating fifty Class 8 Tesla Semi trucks out of its manufacturing and distribution facilities, and 75 Ford E-Transit electric vans will revolutionize the electrification of its equipment services fleet throughout the state. The firm will get closer to its audacious pep+ (PepsiCo Positive) target of reaching net zero emissions by 2040 with the support of the electric car rollout.

Fast Moving Consumer Goods Market Segmentation

Fast Moving Consumer Goods Type Outlook

• Food & Beverage


• Tobacco & Tobacco Products


• Beauty & Personal Care


• Healthcare


• Homecare


• Electronics


• Office Supplies

Fast Moving Consumer Goods Production Type Outlook

• Inhouse


• Contract Based

Fast Moving Consumer Goods Distribution Channel Outlook

• Store Based


• Non-Store Based

Fast Moving Consumer Goods Regional Outlook

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  Europe

  
  
  
  
  • Germany
  
  
  • France
  
  
  • Italy
  
  
  • Spain
  
  
  • UK
  
  
  • Rest of Europe
  
  
  
  


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  Asia-Pacific

  
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia & New Zealand
  
  
  • Rest of Asia Pacific
  
  
  
  


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  Africa

  
  
  
  
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    South Africa

    
    
  
  
  • 
    

    Nigeria

    
    
  
  
  • 
    

    Ghana

    
    
  
  
  • 
    

    Kenya

    
    
  
  
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    Rest of Africa