Consumer Goods

Consumer goods (CG) industry provides a wide range of daily usable products that are manufactured according to individual usage and as per end user requirements. Consumer goods industry is a flourishing and intensifying industry due to its fast processing and quick customer services. Consumer goods mainly consist of food products and beverages, healthcare products, cosmetics products, household cleaning products, variety of home appliances, electrical & electronic goods and so on. On the basis of product durability, consumer goods are divided into two categories; durable consumer goods and non-durable consumer goods. Durable consumer goods consist of long lasting products whereas non-durable consumer goods mainly include single usable products. Non-durable consumer goods are referred as fast moving consumer goods (FMCG) or consumer packaged goods (CPG). Demand for non-durable consumer goods is more than durable consumer goods due to their less shelf life. Durable consumer goods have high life span of one to three years which leads to comparatively lesser investment by end users. Durable consumer goods are further sub divided into white consumer goods (air conditioners, refrigerators, and washing machines), brown consumer goods (mixers, grinders, iron, and fans) and electronics consumer goods (TVs, PCs, cameras, and mobile phones).

Opportunities to be a part of global consumer goods industry

Over the last 25 years, the consumer goods industry has demonstrated high growth in comparison with other goods industries. Continuously increasing demand of consumer goods across the world is drawing attention of manufacturers, retailers, management authorities to invest in this industry. Rapid urbanization, coupled with changing lifestyle is driving demand for consumer goods from end user industries. These industries hold a high share in social as well as economic growth of the country as they create bulk employment opportunities. The consumer goods industry depends on technology by other industries to sustain its products in the market. Latest technology such as Internet of Things (IOT) is helping the consumer goods industry towards better use of data to benefit retailers and customers. Increasing health awareness is driving demand for personal healthcare products. Demand for private labeled consumer goods is attracting global manufacturers and retailers to invest more. Proliferation of social networking services is allowing manufacturers of consumer goods to advertise their products and expand their consumer base. Changing government regulations such as the government of India's relaxation of license rules and approval of 51% foreign direct investment (FDI) in multi-brand and 100% in single-brand retail are driving the growth of the consumer goods industry. Significant trade of consumer goods across the globe is also favoring the growth of this industry.

Changing lifestyle of consumers is also contributing to the growth of the consumer goods market. In 2016, North America dominated the global consumer goods market and the trend is expected to continue due to increasing health awareness in the region. The FMCG industry contributes 6% of the U.S GDP. The increasing population along with specific brand demand has made Asia Pacific the second largest market in the global consumer goods market. According to India Brand Equity Foundation, the revenue share of the FMCG industry in India has increased by 11% over the last decade. Urban markets account for the major share (65%) of the total revenue generated by the consumer durables industry in India. In 2015, revenue generated by the consumer durables industry in India was US$ 9.7 billion, which further increased to US$ 12.5 billion in 2016. There is a lot of scope for growth from rural markets with consumption expected to grow over the forecast period. Latin America is expected to exhibit significant growth in the next 10 years due to influence of the western culture and rising demands for consumer goods in the region.

Key challenges in front ofglobal consumer goods Industry

To compete in global market, consumer goods industries should be aware of all operational, marketing challenges such as,

  • Product differentiation refers to the ability of a seller to show how their product or service id different from other competitors. This is one of the major challenges faced by players operating in the consumer goods industry.
  • Adherence to various government regulations across different regions.
  • Changing consumer habits
  • Falling prices due to rise in competition is a major worrying factor for manufacturers. Companies are struggling to maintain product quality in accordance with the rising manufacturing cost.
  • Relaxation of import regulations is creating tough competition between local industries and leading brand industries.

Key global summits for consumer goods industry 

Global summits are helpful for new industries to gain knowledge because issues such as product analysis techniques, opportunities for profitable growth in the global market, retail regulations, recent trend and challenges in industries and many more are discussed by CG industry experts. For instance,

  • Retail and Consumer Goods Analytics summit 2017, Chicago.
  • 14th Annual Consumer Goods sales and marketing summit 2017, New York.
  • 61st Global summit for CGF 2017, Berlin, Germany.
  • The CGF sustainable Retail summit 2017, Montreal.
  • The Future Leader Congress – 2017, Stockholm.

Key players in global consumer goods industry

Some of the leading players operating in the global consumer goods market are Nestle SA, The Procter & Gamble Company, Unilever PLC, PepsiCo Inc., The Coca Cola Company, Imperial Tobacco Group, Anheuser Bush InBev SA, JBS SA, Mondelez International Inc., Tyson Food Inc., LL’Oréal SA, Phillip Morris International, 3M Company, Danone, Heineken N.V., Nike Inc., British American Tobacco PLC, SABMiller PLC, Henkel AG & Co. Kirin Holding Company ltd, Kimberley-Clark Corporation, Adidas AG, Whirlpool Corporation, Archer Daniels Midland Company.

The two mega mergers in the global consumer goods industry:

  • ABInbev-SABMiller and Kraft Heinz - accounted for US$ 175 billion
  • Brazil’s JBS expanded its operations to Europe with the acquisition of Moypark and Heineken, and purchasing four mid-sized businesses in emerging markets.

View More

Consumer Goods Published Insights

Coherent Market Insights Luxury Jewelry Market

Published Date : Apr 2024

The Global Luxury Jewelry Market is estimated to be valued at USD 52.84 Bn in 2024 and is expected to reach USD 89.98 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 7.9% from 2024 to 2031. The global luxury jewelry ... View more

Coherent Market Insights Cycling Wear Market

Published Date : Apr 2024

The global cycling wear market is estimated to be valued at USD 7.78 Bn in 2024, growing at a compound annual growth rate (CAGR) of 5.38% from 2024 to 2031. The global cycling wear market has been witnessing steady growth in the past few years. Cycling has gained popu... View more

Coherent Market Insights Color Cosmetics Market

Published Date : Apr 2024

The global color cosmetics market is estimated to be valued at USD 82.24 Bn in 2024 and is expected to exhibit a compound annual growth rate (CAGR) of 5.8% from 2024 to 2031. The global color cosmetics market has been witnessing steady growth in the recent years. Risi... View more

Coherent Market Insights Skin Care Products Market

Published Date : Apr 2024

The global skin care products market is estimated to be valued at USD 149.48 Bn in 2024, growing at a CAGR of 4.8% over the forecast period (2024-2031). The global skin care products market has been witnessing steady growth over the past few years. Rising awareness ab... View more

Coherent Market Insights Europe Pet Furniture Market

Published Date : Apr 2024

The pet furniture market in Europe has seen significant growth over the past decade driven by increasing pet ownership and humanization of pets. Europe has traditionally been one of the largest markets for pet products worldwide. Dog and cat ownership has risen steadi... View more

Coherent Market Insights Us Pet Furniture Market

Published Date : Apr 2024

The U.S. pet furniture market is estimated to be valued at USD 2.3 Bn in 2024, growing at a compound annual growth rate (CAGR) of 5.8% from 2024 to 2031. The pet furniture market in the U.S. has seen significant growth over the past decade. As pet ownership has increa... View more

Coherent Market Insights Music Tourism Market

Published Date : Apr 2024

The music tourism market is estimated to be valued at USD 7.17 Bn in 2024, growing at a compound annual growth rate (CAGR) of 8.6% from 2024 to 2031. Music tourism is a growing market where people travel to various locations that are inspired by or related to music. I... View more

Coherent Market Insights Dark Tourism Market

Published Date : Apr 2024

The dark tourism market is estimated to be valued at USD 31.86 Bn in 2024, growing at a compound annual growth rate (CAGR) of 2.6% from 2024 to 2031. Dark tourism is a specialized segment of the tourism industry which involves travel to sites and events associated wit... View more

Coherent Market Insights Global Pet Furniture Market

Published Date : Apr 2024

The global pet furniture market is estimated to be valued at USD 7.01 Bn in 2024, growing at a compound annual growth rate (CAGR) of 6.2% from 2024 to 2031.The global pet furniture market has seen significant growth over the past decade driven by rising pet ownership ... View more

Coherent Market Insights Alternative Tourism Market

Published Date : Apr 2024

The alternative tourism market is estimated to be valued at US$ 98 Bn in 2024, growing at a compound annual growth rate (CAGR) of 4.5% from 2024 to 2031. Alternative tourism is a growing market that refers to tourism activities involving experiences that are distinct ... View more

Coherent Market Insights Educational Tourism Market

Published Date : Apr 2024

The educational tourism market is estimated to be valued at USD 470.15 Bn in 2024, growing at a compound annual growth rate (CAGR) of 12.8%  from 2024 to 2031. Educational tourism is one of the fastest growing segments of the tourism industry. It... View more

Coherent Market Insights Agritourism Market

Published Date : Apr 2024

The agritourism market is estimated to be valued at USD 8.23 Bn in 2024, growing at a compound annual growth rate (CAGR) of 11.4% from 2024 to 2031. Agritourism is a form of niche tourism that offers visitors experiences related to agriculture and rural life. It invol... View more

Coherent Market Insights Sports Tourism Market

Published Date : Apr 2024

The sports tourism market is estimated to be valued at US$ 769.37 Bn in 2024, growing at a compound annual growth rate (CAGR) of 12.8% from 2024 to 2031. Sports tourism is a growing phenomenon worldwide. It refers to trips and visits undertaken by sports enthusiasts t... View more

Coherent Market Insights Religious Tourism Market

Published Date : Apr 2024

The religious tourism market is estimated to be valued at USD 1,293.71 Bn in 2024, growing at a compound annual growth rate (CAGR) of 6.5% from 2024 to 2031. Religious tourism is a form of tourism oriented towards facilitating religion-spiritual activities and purpose... View more

Coherent Market Insights Sustainable Tourism Market

Published Date : Apr 2024

The sustainable tourism market is estimated to be valued at USD 2.61 Bn in 2024, growing at a compound annual growth rate (CAGR) of 18.8% from 2024 to 2031. Sustainable tourism is a growing market with significant potential for further growth in the coming years. It r... View more

Coherent Market Insights Beach Tourism Market

Published Date : Apr 2024

The Beach Tourism Market is estimated to be valued at USD 237.62 Bn in 2024 and, exhibiting a compound annual growth rate (CAGR) of 5.3% from 2024 to 2031. Beach tourism refers to visits to a beach or seaside resort for purposes of relaxation and recreation. It is a m... View more

Coherent Market Insights Cultural Tourism Market

Published Date : Apr 2024

The cultural tourism market is estimated to be valued at USD 6,952.53 Mn in 2024 and is expected to exhibit a compound annual growth rate (CAGR) of 14.3% from 2024 to 2031. Cultural tourism refers to tours and visits undertaken by people to experience the culture of l... View more

Coherent Market Insights Culinary Arts Tourism Market

Published Date : Apr 2024

The culinary arts tourism market is estimated to be valued at USD 13.66 Bn in 2024, growing at a compound annual growth rate (CAGR) of 18.8% from 2024 to 2031. Culinary arts tourism refers to traveling primarily to experience the cuisine and culture of various destina... View more

Coherent Market Insights Business Tourism Market

Published Date : Apr 2024

Global business tourism market is estimated to be valued at USD 900.58 Bn in 2024 and is expected to reach USD 1,678.27 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 9.3% from 2024 to 2031. Global business tourism market has witnessed significant grow... View more

Coherent Market Insights Road Marking Paints And Coatings Market

Published Date : Apr 2024

Global road marking paints and coatings market is estimated to be valued at USD 2,158.17 Mn in 2024 and is expected to reach USD 2,897.85 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 4.3% from 2024 to 2031. Road m... View more

© 2024 Coherent Market Insights Pvt Ltd. All Rights Reserved.