Leap forward a leap into the future

Abstract

The Fast-Moving Consumer Goods sector is one of the most vibrant sectors across the globe and quite resilient. FMCG refers to a large, varied category of products sold with thin profit margins in the market. They include packaged foods, beverages, personal care products, and household items, among others. The rise in demand for consumer products has shown solid growth in the FMCG industry worldwide with time, mainly because people belonging to different demographics and regions of the world are getting more involved in these products. The FMCG market, in general, is expected to stand at about USD 15 trillion by 2024, with 5.4% CAGR growth projections until 2028. This is growing rapidly as a result of several factors: population growth, growing urbanization, increasing disposable incomes, and changing consumer preferences. The increase is significantly driven by emerging markets in regions like the Asia-Pacific, Latin America, and Africa that offer the potential of a large and youthful population.