Fast-Moving Consumer Goods:
The Rs 5-trillion domestic fast-moving consumer goods (FMCG) market still faces hurdles on its path to complete recovery from the current slowdown.
- Fast-Moving Consumer Goods (FMCG) are products sold quickly and at a relatively low cost.
- The FMCG industry is characterized by high-volume sales, quick inventory turnover, and various products catering to consumer needs.
- These goods include essential everyday items such as food and beverages, toiletries, cleaning supplies, and other low-cost household items.
- They have a short shelf life because of high consumer demand (e.g., soft drinks and confections) or because they are perishable (e.g., meat, dairy products, and baked goods).
- The FMCG sector is the fourth-largest sector in the Indian economy.
- In 2022, the urban sector accounted for 65% of the overall annual FMCG sales, while rural India contributed over 35%.
- Household and personal care products make up 50% of the industry’s sales, healthcare claims 31-32%, and food and beverage products account for the remaining 18-19%.
- It provides employment to around 3 million people, accounting for approximately 5% of the total factory employment in India.
