India FMCG Market Size, Trends and Insights 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), and By Region - Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033
Report Snapshot
| Study Period: | 2024-2033 |
| Fastest Growing Market: | India |
| Largest Market: | India |
Major Players
- AB InBev
- AMUL
- Asian Paints (India)
- Britannia Industries
- Cadbury India
- Coca-Cola
- Others
Reports Description
The India FMCG Market 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.
FMCG (Fast Moving Consumer Goods) are a particular group of goods, which are sold quickly and at relatively low costs. FMCG goods include Food & Beverages, Household & Personal Care and Healthcare. These goods move very fast in value from manufacturing, distribution, and marketing to end users, so it is called FMCG (Fast Moving Consumer Goods).
Indian FMCG sector employs around 3 million people accounting for approximately 5% of the total factory employment in India.
The FMCG industry is India’s 4th largest and a major contributor to the country’s economy. Some of the major FMCG products that dominate the market include toiletries, oral hygiene products, detergents, cosmetics and so on.
India FMCG Market: Growth Factors
Indian FMCG industry is mainly driven by various factors such as increasing disposable income, changing lifestyles, supportive government policies, and increasing youth population, and increasing awareness about healthcare.
With growing disposable income people are becoming more health conscious and lifestyle is changing, which in turn drives the demand for FMGC products such as home care, health care, personal care & cosmetics, food & beverages, and others, thereby promoting the development of the FMCG market in India significantly.
Easy raw material availability, lower labour costs and a well-connected value and supply chain give India a competitive advantage in the FMCG industry.
The growth of the Indian population, the rise in consumer awareness of FMCG products, the frequent introduction of a variety of products by key players operating in the market, and the effective advertising and marketing of FMCG brands all contributed to the growth of the Indian FMCG market.
India has a spectacular youth population when compared to other developing countries. The majority of the workforce in India comprises this young population aged between 25-45 and this age group of people is a major consumer of FMCG products especially in the packaged foods category as they barely get time to cook.
Many international players are entering in Indian FMCG market due to the increasing middle-class population. The Indian FMCG market continues to grow because more people start to move up the economic ladder and the benefits of economic progress become accessible to the public.
In the last two years, the Indian FMCG industry saw high inflation translating into price-led growth. Key players operating Indian FMCG sector have indicated that price-led growth has started tapering off and volume-led growth is set to return in the next few years.
India FMCG Market: Restraints
Despite strong fundamentals, the Indian FMCG Industry facing various challenges. Factors such as less adoption in rural areas, stringent government regulations about the production and consumption of many FMCG Products, fluctuation in raw materials prices, and growing counterfeiting of products are restraining the market growth.
India FMCG Market: Opportunities
The growing trend towards sustainable products shopping is also contributing to market growth. The urban sector made up most of the contribution, semi-urban and rural segments are expected to create lucrative opportunities for market growth during the forecast period.
The growing popularity of online purchasing, the development of new brands and products, innovation in product development and the expansion of FMCG networks in rural areas are expected to create significant opportunities for market participants during the forecast period.
The growth of e-commerce and online retail platforms such as Flipkart, amazon, zepto, swiggy, zomato etc. has made FMCG products easily accessible to a broader audience. Online shopping provides convenience and opens up new markets for FMCG companies. Thus, the growing popularity of online purchasing is expected to create lucrative opportunities for the market during the forecast period.
India FMCG Market: Segmentation Analysis
India FMCG market is segmented by product type, by demographics, by distribution channel and by region. By product type, India 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. Homecare products are commonly used to care for the household as well as to meet people’s health and well-being.
Increasing household expenditure is expected to propel the demand for home and household care products during the forecast period. and beverage segment is expected to grow at a significant pace during the forecast period because due to increasing demand for various snacks, beverages, bakery and ready to eat foods.
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. The increasing number of supermarkets/hypermarkets in urban areas, growing working population, increasing internet penetration, and increasing number of E-commerce platforms are some of the factors propelling the market growth of this segment.
The rural segment is expected to grow at significant growth rates during the forecast period. In India, about 65% of the population lives in rural areas. In the last few years, FMCG consumption in rural areas has increased due to the increasing income levels and demand for branded products.
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. The offline segment includes supermarkets/hypermarkets, speciality stores, convenience stores, retail stores, food malls etc. An increasing number of these channels across India is mainly propelling the growth of this segment.
However, the Online segment is expected to grow at the highest CAGR during the forecast period. The online segment includes third party websites and company owned websites. Increasing internet penetration, growing number of smartphone users, and alluring discounts offered by E-commerce platforms are propelling the market growth of this segment during the forecast period.
Report Scope
| Feature of the Report | Details |
| Market Size in 2023 | USD 164 Billion |
| Projected Market Size in 2032 | USD 1093.06 Billion |
| Market Size in 2022 | USD 145 Billion |
| CAGR Growth Rate | 21.61% CAGR |
| Base Year | 2023 |
| Forecast Period | 2024-2033 |
| Key Segment | By Product Type, Demographics, Distribution Channel and Region |
| Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends |
| Country Scope | India |
| Buying Options | Request tailored purchasing options to fulfil your requirements for research. |
India FMCG Market: Regional Analysis
By region, India FMCG market is segmented into North India, South India, East India, and West India. Among all these regions, North India held a significant market share of India FMCG Market in 2022 and is expected to grow at a significant pace 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.
South India is expected to hold a significant market share in India FMCG market. Increasing disposable income in states like Andhra Pradesh, Karnataka, Tamil Nadu, Telangana, and Kerala is mainly propelling the market growth of this region.
West India is expected to emerge as a potential region during the forecast period. States like Maharashtra, Gujrat, Madhya Pradesh are playing a major role in driving the growth of this region. Increasing consumption of FMCG products in major metro cities like Mumbai, Ahmadabad, Pune, Nagpur, Surat, Indore, Bhopal etc is propelling the market growth of this region.
India FMCG Market: Recent Developments
- In October 2023, Unilever announced that it has agreed to sell Dollar Shave Club with completion expected before the end of 2023. Unilever will retain a minority shareholding of 35%. Through this agreement, Unilever is aiming to expand its market presence and market share in India FMGC Market.
- In June 2023, Skincare brand VLCC acquired men’s grooming brand Ustraa.
- In October 2022, Tata Consumer Products renovate and rebrand TATA Q as TATA Sampann Yumside with a new and larger range of Ready to Eat and Ready to Cook offerings. Through such rebranding developments, Tata Consumer is planning to strengthen their Ready to Eat and Ready to Cook product portfolio.
- In January 2023, ITC announced plans to acquire 100% of Sproutlife Foods (SFPL), a direct-to-consumer (D2C) startup and parent company of health food brand ‘Yoga Bar’ over three to four years. Through this acquisition, ITC is aiming to strengthen the distribution channel and health food brand portfolio.
- In January 2023, ITC opened 59 acre food processing plant in Telangana, that will make in phases biscuits, chips, and noodles as well as atta that ITC markets under its popular brands, including Sunfeast and Aashirvaad. Through this expansion, ITC is planning to enhance their food processing production capacity and market presence in South India.
- In December 2022, Hindustan Unilever Limited (HUL) announced its foray into the ‘Health & Wellbeing’ category through strategic investments in Zywie Ventures Private Limited and Nutritional Private Limited. Through this strategic investment, HUL has entered the Health and Wellbeing category.
List of the prominent players in the India 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 growth strategies such as mergers & acquisitions, joint ventures, expansion, strategic alliances, new product launches, etc. to enhance their business operations and revenues.
The India 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
Table of Contents
- Chapter 1. Preface
- 1.1 Report Description and Scope
- 1.2 Research scope
- 1.3 Research methodology
- 1.3.1 Market Research Type
- 1.3.2 Market Research Methodology
- Chapter 2. Executive Summary
- 2.1 India FMCG Market Market, (2024 – 2033) (USD Billion)
- 2.2 India FMCG Market Market: snapshot
- Chapter 3. India FMCG Market Market – Industry Analysis
- 3.1 India FMCG Market Market: Market Dynamics
- 3.2 Market Drivers
- 3.2.1 Supportive Government Policies
- 3.2.2 Increasing disposable incomes
- 3.2.3 Changing lifestyle
- 3.2.4 Increasing penetration of E-commerce platforms.
- 3.3 Market Restraints
- 3.4 Market Opportunities
- 3.5 Market Challenges
- 3.6 Porter’s Five Forces Analysis
- 3.7 Market Attractiveness Analysis
- 3.7.1 Market Attractiveness Analysis By Product Type
- 3.7.2 Market Attractiveness Analysis By Demographics
- 3.7.3 Market Attractiveness Analysis By Distribution Channel
- Chapter 4. India FMCG Market Market- Competitive Landscape
- 4.1 Company market share analysis
- 4.1.1 India FMCG Market Market: company market share, 2022
- 4.2 Strategic development
- 4.2.1 Acquisitions & mergers
- 4.2.2 New Product launches
- 4.2.3 Agreements, partnerships, cullaborations, and joint ventures
- 4.2.4 Research and development and Regional expansion
- 4.3 Price trend analysis
- 4.1 Company market share analysis
- Chapter 5. India FMCG Market Market – Product Type Analysis
- 5.1 India FMCG Market Market Overview: By Product Type
- 5.1.1 India FMCG Market Market Share, By Product Type, 2022 and – 2033
- 5.2 Food & Beverages
- 5.2.1 India FMCG Market Market by Food & Beverages, 2024 – 2033 (USD Billion)
- 5.3 Consumer Electronics
- 5.3.1 India FMCG Market Market by Consumer Electronics, 2024 – 2033 (USD Billion)
- 5.4 Home & Household Care
- 5.4.1 India FMCG Market Market by Home & Household Care, 2024 – 2033 (USD Billion)
- 5.5 Tobacco and Tobacco Products
- 5.5.1 India FMCG Market Market by Tobacco and Tobacco Products, 2024 – 2033 (USD Billion)
- 5.6 Pet Care
- 5.6.1 India FMCG Market Market by Pet Care, 2024 – 2033 (USD Billion)
- 5.7 Pharmaceuticals
- 5.7.1 India FMCG Market Market by Pharmaceuticals, 2024 – 2033 (USD Billion)
- 5.8 Others
- 5.8.1 India FMCG Market Market by Others, 2024 – 2033 (USD Billion)
- 5.1 India FMCG Market Market Overview: By Product Type
- Chapter 6. India FMCG Market Market – Demographics Analysis
- 6.1 India FMCG Market Market Overview: By Demographics
- 6.1.1 India FMCG Market Market Share, By Demographics, 2022 and – 2033
- 6.2 Urban
- 6.2.1 India FMCG Market Market by Urban, 2024 – 2033 (USD Billion)
- 6.3 Rural
- 6.3.1 India FMCG Market Market by Rural, 2024 – 2033 (USD Billion)
- 6.1 India FMCG Market Market Overview: By Demographics
- Chapter 7. India FMCG Market Market – Distribution Channel Analysis
- 7.1 India FMCG Market Market Overview: By Distribution Channel
- 7.1.1 India FMCG Market Market Share, By Distribution Channel, 2022 and – 2033
- 7.2 Online
- 7.2.1 India FMCG Market Market by Online, 2024 – 2033 (USD Billion)
- 7.3 Offline
- 7.3.1 India FMCG Market Market by Offline, 2024 – 2033 (USD Billion)
- 7.1 India FMCG Market Market Overview: By Distribution Channel
- Chapter 8. India FMCG Market Market – Regional Analysis
- 8.1 India FMCG Market Market Regional Overview
- 8.2 India FMCG Market Market Share, by Region, 2022 & – 2033 (USD Billion)
- Chapter 9. Company Profiles
- 9.1 AB InBev
- 9.1.1 Overview
- 9.1.2 Financials
- 9.1.3 Product Portfolio
- 9.1.4 Business Strategy
- 9.1.5 Recent Developments
- 9.2 AMUL
- 9.2.1 Overview
- 9.2.2 Financials
- 9.2.3 Product Portfolio
- 9.2.4 Business Strategy
- 9.2.5 Recent Developments
- 9.3 Asian Paints (India)
- 9.3.1 Overview
- 9.3.2 Financials
- 9.3.3 Product Portfolio
- 9.3.4 Business Strategy
- 9.3.5 Recent Developments
- 9.4 Britannia Industries
- 9.4.1 Overview
- 9.4.2 Financials
- 9.4.3 Product Portfolio
- 9.4.4 Business Strategy
- 9.4.5 Recent Developments
- 9.5 Cadbury India
- 9.5.1 Overview
- 9.5.2 Financials
- 9.5.3 Product Portfolio
- 9.5.4 Business Strategy
- 9.5.5 Recent Developments
- 9.6 Coca-Cola
- 9.6.1 Overview
- 9.6.2 Financials
- 9.6.3 Product Portfolio
- 9.6.4 Business Strategy
- 9.6.5 Recent Developments
- 9.7 Colgate Palmolive
- 9.7.1 Overview
- 9.7.2 Financials
- 9.7.3 Product Portfolio
- 9.7.4 Business Strategy
- 9.7.5 Recent Developments
- 9.8 Dabur India
- 9.8.1 Overview
- 9.8.2 Financials
- 9.8.3 Product Portfolio
- 9.8.4 Business Strategy
- 9.8.5 Recent Developments
- 9.9 Hindustan Unilever Ltd.
- 9.9.1 Overview
- 9.9.2 Financials
- 9.9.3 Product Portfolio
- 9.9.4 Business Strategy
- 9.9.5 Recent Developments
- 9.10 ITC (Indian Tobacco Company)
- 9.10.1 Overview
- 9.10.2 Financials
- 9.10.3 Product Portfolio
- 9.10.4 Business Strategy
- 9.10.5 Recent Developments
- 9.11 Marico Industries
- 9.11.1 Overview
- 9.11.2 Financials
- 9.11.3 Product Portfolio
- 9.11.4 Business Strategy
- 9.11.5 Recent Developments
- 9.12 Nestlé India
- 9.12.1 Overview
- 9.12.2 Financials
- 9.12.3 Product Portfolio
- 9.12.4 Business Strategy
- 9.12.5 Recent Developments
- 9.13 Pantanjali Foods
- 9.13.1 Overview
- 9.13.2 Financials
- 9.13.3 Product Portfolio
- 9.13.4 Business Strategy
- 9.13.5 Recent Developments
- 9.14 PepsiCo
- 9.14.1 Overview
- 9.14.2 Financials
- 9.14.3 Product Portfolio
- 9.14.4 Business Strategy
- 9.14.5 Recent Developments
- 9.15 Procter & Gamble Hygiene and Health Care
- 9.15.1 Overview
- 9.15.2 Financials
- 9.15.3 Product Portfolio
- 9.15.4 Business Strategy
- 9.15.5 Recent Developments
- 9.16 Unilever
- 9.16.1 Overview
- 9.16.2 Financials
- 9.16.3 Product Portfolio
- 9.16.4 Business Strategy
- 9.16.5 Recent Developments
- 9.17 Tata Consumer Limited
- 9.17.1 Overview
- 9.17.2 Financials
- 9.17.3 Product Portfolio
- 9.17.4 Business Strategy
- 9.17.5 Recent Developments
- 9.18 United Spirits
- 9.18.1 Overview
- 9.18.2 Financials
- 9.18.3 Product Portfolio
- 9.18.4 Business Strategy
- 9.18.5 Recent Developments
- 9.19 Godrej Consumer Ltd
- 9.19.1 Overview
- 9.19.2 Financials
- 9.19.3 Product Portfolio
- 9.19.4 Business Strategy
- 9.19.5 Recent Developments
- 9.20 VLCC
- 9.20.1 Overview
- 9.20.2 Financials
- 9.20.3 Product Portfolio
- 9.20.4 Business Strategy
- 9.20.5 Recent Developments
- 9.21 Others.
- 9.21.1 Overview
- 9.21.2 Financials
- 9.21.3 Product Portfolio
- 9.21.4 Business Strategy
- 9.21.5 Recent Developments
- 9.1 AB InBev
List Of Figures
Figures No 1 to 22
List Of Tables
Tables No 1 to 2
Report Methodology
In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:
Preliminary Data Mining
On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.
Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.
Statistical Model
Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.
Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.
Some of the variables taken into account for forecasting are as follows:
• Industry drivers and constraints, as well as their current and projected impact
• The raw material case, as well as supply-versus-price trends
• Current volume and projected volume growth through 2032
We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.
Primary Validation
This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.
Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.
All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:
• Market leaders
• Suppliers of raw materials
• Suppliers of raw materials
• Buyers.
The following are the primary research objectives:
• To ensure the accuracy and acceptability of our data.
• Gaining an understanding of the current market and future projections.
Data Collection Matrix
| Perspective | Primary research | Secondary research |
| Supply-side |
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| Demand-side |
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Market Analysis Matrix
| Qualitative analysis | Quantitative analysis |
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Prominent Player
- 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
FAQs
The restraints of the Indian FMCGs market includes stringent regulations, lack of universal directives pertaining to consumption and production of FMCG products, counterfeiting of products.
The major drivers for the India FMCG market are supportive government policies, and increasing disposable incomes, changing lifestyle, increasing penetration of E- commerce platforms.
The “Food & Beverages” category dominated the market in 2022.
The key players in the market are 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.
The market is projected to grow at a CAGR of 21.61% during the forecast period, 2023-2032.
The India FMCG Market size was valued at USD 164 Billion in 2023.