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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,
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,
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:
Published Date : Aug 2022
Tankless water heater is a sort of water heater which does not store hot water in tanks and heats the water instantly by using heat exchanger coils made of copper. It provides an economical solution for energy savings as it heats water only on demand unlike convention... View more
Published Date : Aug 2022
Flooring tools are the equipment that are used for flooring installation. Some of the flooring tools include utility knife, chalk line, paint rollers & pan, flooring roller, metal straight edge, cutting board, measuring tapes, masking or painters tape, floor buffi... View more
Published Date : Aug 2022
Textile flooring is a type of flooring system that looks like rugs and carpets and are basically define as broadloom and modular types. Textile flooring is available in the two forms i.e. natural fibers and manmade fibers. Nylon6, Nylon66, terephthalate (Polyester), p... View more
Published Date : Aug 2022
Men's grooming includes a various range of products such as hair care, skincare, perfumes, shaving lotions, etc. These products are basically used for cleaning and maintaining the body in order to create positive impressions. Traditionally, men's grooming products onl... View more
Published Date : Aug 2022
Organic cosmetics, originated from ingredients which are certified as organic by numerous certifying institutions operating throughout the globe. These ingredients possess high level of antioxidants and are formed without the use of synthetic fertilizers and Genetical... View more
Published Date : Aug 2022
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Published Date : Jul 2022
Global demand for lyocell fabrics has been on the rise due to their applications in various industries such as textiles, healthcare, hygiene, automotive, and others. Lyocell fabric is a natural fiber made from wood pulp. This regenerated cellulose fiber is usually sol... View more
Published Date : Jul 2022
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Published Date : Jul 2022
The cycling wear includes products such as leggings, shorts, gloves, beanies, tights jackets, footwear, eyewear, and jerseys. These products are designed with high category clothing material offering good comfort to the rider, along with other attributes including dur... View more
Published Date : Jul 2022
Garbage disposals are installed under the kitchen sink between the trap and the sink drain. These disposals are electrically powered and they crush the food waste into slurry that is further passed to the sewage line through the plumbing system. Key players operating ... View more
Published Date : Jul 2022
Household care and professional cleaning and hygiene products are an essential part of individual’s life. Growth of household wipes products is attributed to high disposable income, which allows consumers to purchase appliances and other luxuries, and thereby cr... View more
Published Date : Jul 2022
Growing incontinence problems and rising geriatric populations are major drivers contributing towards growth of the global adult incontinence problems. Diaper, pads, and pants & liners for incontinence problems are gaining traction in the market, owing to its supe... View more
Published Date : Jul 2022
Dry shampoo is made of silica based formulas and powders, including clays or starch, which absorbs dirt and excess oil from the scalp, without the use of water. The product has gained popularity in the recent years as, it provides an easy and convenient way for hair c... View more
Published Date : Jul 2022
Tissue towel is an absorbent towel that is made from paper for drying hands, cleaning up spills, wiping windows, and other uses. Increasing consumption of paper towels is driving growth of the global tissue towel market. According to the Ocean Conservancy, around 13 b... View more
Published Date : Jul 2022
Skiing is a winter sport in which the participants use skis to glide on snow. Traditionally, such sports were played only in cold areas during winters, however, artificial ice and snow allows for enhanced flexibility. Increasing participation in skiing activities coup... View more
Published Date : Jul 2022
Color cosmetics are the colorants and other ingredients of cosmetics, which enhance the looks and form of the human body. Global color cosmetics market is expected to grow at a higher rate due to increasing demand for organic and natural products of cosmetic products,... View more
Published Date : Jul 2022
Products containing herbs, plant-based ingredients, and combination of active parts of plants and plant material are referred to as herbal beauty products. Increasing awareness about the harmful effects of using synthetic cosmetics coupled with rising demand for green... View more
Published Date : Jun 2022
Tissue paper is a lightweight type of paper, also known as crêpe paper. It is made from paper pulp and is either recycled or manufactured on a paper machine. It is a great option for many different applications, from gift wrapping to keeping items fresh. While m... View more
Published Date : Jun 2022
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Published Date : Jun 2022
Swimwear are majorly used by people involved in water related sports activities. It protects the wearer against chlorinated water present in swimming pools and sea water that can cause skin rashes. Market Dynamics:... View more