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:
Tire cords and tire fabrics are fabrics manufactured by using superior quality yarns. These cords and fabrics have better abrasion resistance, high tensile strength, controlled deformation, etc. They are majorly used across the tire industry especially in a rubber hos... Read more
Colored PU foams are thermosetting polymers that have excellent properties such as rigidity, durability, flexibility, and fatigue resistance. Moreover, it has high performance, thermal resistance, and versatile design. It is widely used across applications s... Read more
Smartwatches are wearable computing devices that resemble wristwatch but come with added advanced features such as weather update, messaging, enable call making, connection to the internet, Bluetooth-enabled, GPS, and more. Moreover, it also offers an answering&n... Read more
Micro-irrigation systems are an advanced irrigation system that provides water to the cultivation land in the form of sprinkles and spray. This system can be classified into sprinkler irrigation, lateral, move irrigation, drip irrigation, and center-pivot irrigat... Read more
Chocolate is prepared with roasted and ground cacao seeds that made in the form of paste, block, and liquid. Chocolate can be used as a flavoring agent in various food applications. It has numerous health benefits and has a unique and sweet taste. Its consumption redu... Read more
Membrane bioreactor is one of the high-efficient wastewater treatment technology as it uses a microbial process. It separates the effluent from wastewater via filtration membrane. Moreover, membrane bioreactor is a high-speed process and also offer better en... Read more
Coated fabrics are coated or treated with various products such as lacquer, varnishes, rubber, and thermoplastic coatings. They are manufactured from the pile and smooth fabric. They find applications across transportation, protective clothing, roofing, furniture, and... Read more
Definition of Market/Industry: Ecotourism refers to the holidaying in a natural environment without damaging the environment or disturbing habitats. It is a part of environmental conservation and understandi... Read more
The hearth is a brick-lined fireplace that is used for heating purposes. It is used for managing the room temperature during winters as well as for cooking purpose. The hearth is made up of different materials brick and stones. It is used to improve the interiors... Read more
Packaging is an integral part of product manufacturing, which helps in ensuring product safety along with easy transportation of products. Sterile packaging, specially the sterile bottles, are being extensively used for storage and transportation in the pharmaceutical... Read more
Industrial protective footwear is a form of protective footwear that is intended to wear at the workplace in order to safeguard feet against foot injuries. This safety footwear reduce the impact of hazards by acting as a protective barrier between the indivi... Read more
Car rental service is a hire car agency that enables the customer to rents automobiles at affordable rates. This agency is usually located near airports and busy city areas. Car rental services are mainly opted by people who require a vehicle for the temporary and who... Read more
An air purifier is a type of air cleaner’s devices that are used to eliminate the contaminants from the air in the close room and also enhance the quality of the air. Air purifier comprises of filter, a fan that circulates and sucks that air, and multiple f... Read more
Footwear sole material used to manufacture the bottom part of the shoes and is produced from various materials rubber, plastic, and petrochemical-derived products. Footwear sole materials provide comfort and fashion and allow to perform various outdoor activities. Pol... Read more
POU water purifiers are referred to as point-of-use water purifiers that are widely used to clean and purify kitchen tap water and bathing water. This system removes contamination effectively and cleans the water for drinking purposes. They are user-friendly, low main... Read more
Masks are useful in prevention of harmful substances in the air from entering the human body and helps in keeping healthy respiration. Masks are used across various industries such as medical, oil and gas, chemical, construction, and mining. With the rapidly increasin... Read more
N95 grade medical protective masks are air purifying personal protective devices, which are designed for reducing the users’ inhalation exposure to certain airborne particles. These respirators are tested and certified by the National Institute for Occupational ... Read more
U.S. Costume Jewelry Market 2017–2027 Costume jewelry is also referred to as imitation jewelry and fashion jewelry and is primarily worn as a fashion statement. It is mainly produced with inexpensive materials such as metals, glass,... Read more