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 : Jul 2023
The global tire cord and tire fabrics market is projected to reach around US$ 9.37 Billion by the end of 2030, in terms of revenue, growing at a CAGR of 6.5% during the forecast period ... View more
Published Date : Aug 2020
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... View more
Published Date : Jul 2023
The global smart watches market accounted for US$ 28.72 Bn in 2022. Drivers Increasing trends for online shopping contributes to the growth of the market... View more
Published Date : Jul 2023
The Global Micro Irrigation System Market is projected to reach around US$ 12.94 Billions by the end of 2030, in terms of revenue, growing at CAGR of 6.2% during the forecast period ... View more
Published Date : Jul 2023
The Asia Pacific Chocolate Market is projected to reach around US$ 36.66 Billions by the end of 2030, in terms of revenue, growing at CAGR of 7.0% during the forecast period (2023... View more
Published Date : Nov 2023
Moist snuff is a type of smokeless tobacco that can be consumed orally, offered in different forms such as portion snuff and loose snuff. Moist snuff contains carcinogenic substances and the addictive substance nicotine like other tobacco products. Moist snuff is a le... View more
Published Date : Jul 2023
The global membrane bioreactor (MBR) systems market was estimated to account for US$ 2811.7 Mn in terms of value and 5.1% CAGR Thousand cubic meters in terms of volume by the end of 2022. Drivers... View more
Published Date : Jul 2023
Global Coated Fabrics Market is projected to surpass US$ 29.79 Billion by the end of 2030, in terms of revenue, growing at CAGR of 3.6% during the forecast period (2023 to 2030). The increased emphasis on safety measures and stringent regulations concerning worker saf... View more
Published Date : Oct 2021
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... View more
Published Date : Jul 2023
The global hearth market is projected to surpass US$ 5.6 billion by the end of 2030, in terms of revenue, growing at a CAGR of 5.3% during the forecast period (2023 to... View more
Published Date : Jun 2023
The Global Sterile Bottles Market is projected to reach around US$ 21.2 Bn by the end of 2030, in terms of revenue, growing at a CAGR of 5.9% during the forecast period (2023-2030). ... View more
Published Date : Jul 2023
The global industrial protective footwear film market is projected to reach around US$ 9.79 Billion by the end of 2030, in terms of revenue, growing at CAGR of 8.0% during the... View more
Published Date : Aug 2023
The GCC air purifier market is projected to reach around US$ 380.1 Mn by the end of 2030, in terms of revenue, growing at CAGR of 16.9% during the forecast period (2023-2030).... View more
Published Date : Jun 2023
Global Footwear Sole Material market was valued at US$ 21.97 Billion in 2022, exhibiting a CAGR of 4.2 % in terms of revenue, over the forecast period (2023 to 2030) to reach US$ 31.95 Billion by 2030. Footwear sole material used t... View more
Published Date : Jun 2023
The MENA POU water purifier market is projected to surpass US$ 1033.2 million by the end of 2030 in terms of revenue, growing at a CAGR of 8.7% over the forecast period (2023... View more
Published Date : Jun 2023
Global Disposable & Reusable Mask Market was valued at US$ 1,276.7 Mn in 2022, and is expected to exhibit a CAGR of 7.1%, in terms of revenue, over the forecast period (2023-2030) to reach US$ 2,219.0 Mn by 2030. ... View more
Published Date : May 2020
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 ... View more
Published Date : Nov 2023
A carpet is a textile floor covering. The carpets are of two form bio-based and synthetic carpets. Bio-based carpets are the floor coverings made from natural materials such as seagrass, sisal, and j... View more
Published Date : May 2023
The U.S. costume jewelry market is projected to reach around US$ 28.02 billion by the end of 2030, in terms of revenue, growing at CAGR of 6.4% during the forecast period (2023-2030). U.S. Costume Jewelry Market: Growth Dri... View more
Published Date : Apr 2020
Luggage and leather goods are produced from leather which is made up of animal skin. These products are highly durable and offer aesthetic look to the products. Leather goods includes footwear, clutches and wallets, clothing, and apparel, upholstery (furniture an... View more