Indian FMCG Market Size Likely to Grow at a CAGR of 21.61% By 2033

The Indian FMCG Market size was valued at USD 164 Billion in 2023 and is expected to reach USD 1093.06 Billion by 2032, at a CAGR of 21.61% during the forecast period 2023 – 2032.

Indian FMCG Market: Overview

Consumer Packaged Goods (CPG), also known as Fast-Moving Consumer Goods (FMCG), are highly demanded, readily available, and reasonably priced items that are used in day to day applications. Fast-Moving Consumer Goods (FMCG) are in high demand because they typically have a low price and high usability.

Some examples of FMCG products are toothpaste, prepared meals, soap, cookies, notepads, and chocolate. FMGC comprise three major business segments Food & Beverages, Household & Personal Care and Healthcare.

The FMCG market in India is driven by many factors such as increasing disposable income, changing lifestyles, supportive government policies, and increasing youth population, and increasing awareness about healthcare.

However, factors such as a lack of nationwide directives about the production and consumption of FMCG products, stringent regulations, less adoption in rural areas, and increasing counterfeiting of FMCG products are restraining the market growth.

A growing young population, increasing E-commerce platforms, growing awareness about branded products, and increasing consumption in rural areas are some of the factors that are expected to create lucrative opportunities for the market during the forecast period.

Indian FMCG market is segmented by product type, by demographics, by distribution channel and by region. By product type, the Indian FMCG market is segmented into food & beverages, consumer electronics, home & household care, tobacco and tobacco products, pet care, pharmaceuticals and others.

Among all of these product types, the Home and Household care segment held the highest market share in 2022 and is expected to keep its dominance during the forecast period.

By demographics, the Urban segment held the highest market share of 67.56% in 2022 and is expected to keep its dominance during the forecast period.

By Distribution channel, the market is segmented into Online and Offline. Among all these segments, the Offline segment held the highest market share in 2022 and is expected to keep its dominance during the forecast period. Offline channels include pharmacies, medical stores, supermarkets/hypermarkets etc.

Online channel is expected to grow at a significant pace during the forecast period owing to the increasing number of e-commerce channels, and company owned websites.

North India is expected to hold a significant market share in Indian FMCG market during the forecast period. States like Uttar Pradesh, Delhi, Punjab, Haryana, Uttrakhand, and J&K are playing crucial roles in the market growth of this region.

Report Scope

Custom Market Insights has comprehensively analyzed India FMCGs market. The driving forces, restraints, challenges, opportunities, and key trends have been explained in depth to depict depth scenarios of the market. Segment wise market size and market share during the forecast period are duly addressed to portray the probable picture of this Indian FMCG industry.

The competitive landscape includes key innovators, after market service providers, market giants as well as niche players are studied and analyzed extensively concerning their strengths, weaknesses as well as value addition prospects. In addition, this report covers key players profiling, market shares, mergers and acquisitions, consequent market fragmentation, new trends and dynamics in partnerships.

 List of the prominent players in the Indian FMCG Market:

• AB InBev
• AMUL
• Asian Paints (India)
• Britannia Industries
• Cadbury India
• Coca-Cola
• Colgate Palmolive
• Dabur India
• Hindustan Unilever Ltd.
• ITC (Indian Tobacco Company)
• Marico Industries
• Nestlé India
• Pantanjali Foods
• PepsiCo
• Procter & Gamble Hygiene and Health Care
• Unilever
• Tata Consumer Limited
• United Spirits
• Godrej Consumer Ltd
• VLCC
• Others

These key players are adopting various organic and inorganic growth strategies such as mergers & acquisitions, joint ventures, collaborations, expansion, strategic alliances, new product launches, etc. to enhance their product portfolio and business operations.

The Indian FMCG Market is segmented as follows:

By Product Type

• Food & Beverages
• Consumer Electronics
• Home & Household Care
• Tobacco and Tobacco Products
• Pet Care
• Pharmaceuticals
• Others

By Demographics

• Urban
• Rural

By Distribution Channel

• Online
• Offline
  • Supermarket/ Hypermarket
  • Grocery Stores
  • Others