Fast-moving consumer goods Market Research Report: Information by Type (Food & Beverages, Tobacco Products, Beauty & Personal Care, Healthcare, Home Care, Electronics, Office Supplies), Production Type (Inhouse, Contract Based), Distribution Channel (Store Based, Non-Store Based) Industry Forecast Till 2032
In 2023, the market size for fast-moving consumer products was estimated to be worth 10,703.32 billion euros. The global fast-moving consumer products market is expected to expand at a compound annual growth rate (CAGR) of 6.7% from 2024 to 2032, reaching Euro 19,032.31 billion.
Due to the expansion of organized retail in the Asia-Pacific region and the rise of the middle class worldwide, the global fast-moving consumer goods (FMCG) market is anticipated to expand at a rate of 6.60% over the course of the projected year. Additionally, the rise of digitalization in rural areas is having a favorable impact on market expansion. However, over the forecast period, the market's growth is being hampered by the increase in fake and counterfeit items as well as the shift in customer preferences toward sustainability. However, it is anticipated that the e-commerce channel's high penetration would present profitable prospects for market participants. Additionally, the advantageous governmental policies in important economies are creating an atmosphere that is good for multinational businesses to grow and solidify their market position. The market's participants are facing difficulties due to region-specific laws and strict taxation.
Perspectives on Market SegmentsFood & beverages, tobacco & tobacco products, beauty & personal care, healthcare, home care, and office and electronic supplies are the different categories into which the global fast-moving consumer goods market has been divided. Beauty and personal care items are used for personal hygiene and to enhance one's look. They include cosmetics, skin care products, hair care and styling products, perfume, and many more.
The market for fast-moving consumer goods has been divided into two segments based on the type of production: contract-based and in-house.
When a manufacturer enters a contract with another company to create specific parts or items over a defined period of time, this is known as contract-based manufacturing.
Regional PerspectivesWith a compound annual growth rate (CAGR) of 5.12%, the market value of Europe is projected to reach Euro 2,698.2 billion in 2022 and Euro 4,004.2 billion in 2030. In general, Germany, France, Italy, Spain, the United Kingdom, and the rest of Europe are all included in the European market study. Due to the growing efforts of major players to increase the production of different beverages throughout the region, which would further promote its market growth, Europe continues to have a sizable proportion of the global fast-moving consumer goods industry.
For the implementation and funding of the wine assistance programs for the fiscal year 2023, the Commission has granted further flexibility. This will allow Member States to better utilize green harvesting to prevent or reduce a possible wine excess in the next year and better adjust their policies to the present status of the wine market.
The world's most populous region is Asia-Pacific, which includes Australia and New Zealand, China, India, Japan, and the rest of the Asia-Pacific region. The FMCG market is anticipated to expand throughout the region because of the growing tactics used by both governmental and non-governmental organizations to fortify the electronic sector, which is anticipated to have a favorable impact on the industry's growth in the years to come. Taking advantage of its capabilities in the information technology sector and the size of its digital market, India is actively working to expand its domestic production capacity in the electronics sector.
Key PlayersNestle SA, PepsiCo, INC, Coco Cola, Unilever, Tyson Foods, Procter & Gamble Co, Loreal SA, Anheuser-Busch InBev, JBS Foods, and Kraft Heinz are important players in the fast-moving consumer products sector.