The FMCG industry has been enjoying indisputable success since decades. This industry had developed 23 of the world’s top 100 brands. The consumer goods sector is a representation of one of the largest operational sectors worldwide. It includes food, non-food products which are vital and are manufactured considering the need and its usage. It includes home appliances, home decor products, cosmetics, electronic goods, etc.
This sector is mainly ruled by the rising disposable income, rapid urbanization, higher spending on the consumer goods, and changing lifestyles. Also, rising consumerism, expansion of the organized and unorganized retail stores, increasing digitization and low investment for the market entry are some of the other factor that drives the growth of this sector. Some of the industry giants adopted key strategies includes lower product pricing, acceptance of ecofriendly ingredients or raw materials along with launch of more innovative and personalized products.
Packaged food, Scented Candles, Cannabidiol Oil, Bottled Water Processing, Sports Protective Equipment, Sugar free Confectionery are some of the studies conducted by Axiom MRC in the consumer goods section.