PUBLISHER: Market Research Future | PRODUCT CODE: 1624247
PUBLISHER: Market Research Future | PRODUCT CODE: 1624247
Global 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) Forecast Till 2032
In 2023, the fast-moving consumer products market was estimated to be worth €10,703.32 billion. The global fast-moving consumer goods sector is expected to expand from 2024 to Euro 19,032.31 billion by 2032, with a compound annual growth rate (CAGR) of 6.7% throughout the projection period (2024-2032).
The global fast moving consumer goods (FMCG) market is predicted to increase at a rate of 6.60% during the forecast period, owing to the expansion of the organized retail sector in the Asia-Pacific region and a growing middle class around the world. Furthermore, the rise of digitalization in rural areas has a favorable impact on market growth. However, the increasing existence of counterfeit and imitation items in the market, as well as a shift in customer preference toward sustainability, are impeding market growth over the projection period. Nonetheless, the high penetration of the e-commerce sector is projected to open up attractive opportunities for market players. Furthermore, favorable government policies in important economies are creating a climate that allows multinational firms to expand and improve their market position. Region-specific government rules and rigorous tax systems present hurdles for market participants.
Market Segment insights
The global fast moving consumer goods market is divided into the following categories: food and beverages, tobacco and tobacco products, cosmetics and personal care, healthcare, home care, and electronic and office supplies. Beauty and personal care products include cosmetics, skin care, hair care and styling products, perfume, and many more items used for personal hygiene and to improve one's look.
The fast-moving consumer products market has been divided into two segments based on production type: in-house and contract.
Contract manufacturing occurs when a manufacturer enters into an agreement with another company to produce specific parts or items within a set time frame.
Region Insights
Europe's market value is estimated to be Euro 2,698.2 billion in 2022 and Euro 4,004.2 billion in 2030, increasing at a CAGR of 5.12% over the forecast period. The European market study encompasses Germany, France, Italy, Spain, the United Kingdom, and the rest of Europe. Europe continues to maintain a large proportion of the worldwide fast moving consumer goods market, thanks to increased activities by key companies to extend the production of various drinks across the area, which would enhance market growth.
The Commission has increased flexibility for the implementation and financing of wine assistance programs in fiscal year 2023. This will allow Member States to better adapt their policies to the current situation of the wine market, as well as make better use of green harvesting to avoid or mitigate a potential wine excess in the coming year.
Asia-Pacific is expected to generate a Euro 4,355.55 billion potential from 2022 to 2030. Asia-Pacific is the world's most populous region, with significant economies such as Japan, China, India, Australia and New Zealand, and the rest of Asia-Pacific. The FMCG market is predicted to develop across the area as a result of increased initiatives adopted by both governmental and non-governmental organizations to enhance the electronic sector, which is expected to have a favorable impact on market growth in coming years. As part of this, India is actively attempting to develop domestic electronics manufacturing capacity, leveraging the scale of its digital market and information technology strengths.
Nestle SA, PepsiCo, INC, Coca-Cola, Unilever, Tyson Foods, Procter & Gamble Co, Loreal SA, Anheuser-Busch InBev, JBS Foods, and Kraft Heinz are among the leading companies in the fast-moving consumer products market.