FMCG in India is more resilient than global firms and several categories will drive growth

As per a Kantar report, India's Fast-Moving Consumer Goods (FMCG) industry is far more resilient than some of its international competitors, even though global inflation, wars in other parts of the world, and geopolitical difficulties are having an impact on economies everywhere.

The report mentioned that the convenience sector is likely to grow in double digits and there will be some improvement in the home hygiene category over the previous year.

House consumption, where consumers preferred snacking the most, is one of the sectors reviving growth. In that, the most consumed were biscuits and salty snacks and included the highest number of brands purchased in the year. In addition, customers spent about US$ 650 million (Rs. 54 billion) on chocolates, accounting for about 25% of total out-of-home purchases.

Consumers do not intend to compromise on necessities despite the ongoing price increase, and they are likely to manage their finances by switching to less expensive options within the household categories, as per the report.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.