The India FMCG market size reached US$ 207.5 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 937.5 Billion by 2032, exhibiting a growth rate (CAGR) of 18.24% during 2024-2032. The rising disposable incomes, changing lifestyles, rapid growth of e-commerce industry, and increased urbanization and modernization, and extensive research and development (R&D) activities by key players represent some of the key players driving the market.
Report Attribute | Key Statistics |
Base Year | 2023 |
Forecast Years | 2024-2032 |
Historical Years | 2018-2023 |
Market Size in 2023 | US$ 207.5 Billion |
Market Forecast in 2032 | US$ 937.5 Billion |
Market Growth Rate 2024-2032 | 18.24% |
FMCG stands for fast-moving consumer goods that refer to typically high-volume, low-margin goods that are sold in large quantities to retailers, who then sell them directly to consumers. These products are often packaged in small quantities, making them affordable and convenient for consumers. FMCG products include food, beverages, personal care products, cleaning products, and household items. These products are generally non-durable goods that are consumed or used up quickly and need to be replaced frequently.
FMCG products are widely available through retail outlets, supermarkets, and convenience stores, and are often promoted through advertising campaigns and special promotions. One of the defining characteristics of FMCG is the speed at which products move through the supply chain, from manufacturers to retailers and ultimately to consumers. This is achieved through a highly efficient and streamlined supply chain that can handle high volumes of products and rapid turnover.
FMCG products play a crucial role in the economy, generating significant revenue and providing employment opportunities across the supply chain. Today, the industry is constantly evolving, with new products and innovations to meet the changing consumer preferences and market trends.
