THE LAST YEAR saw the Indian FMCG sector persistently innovating, increasing use of technology, building new business models, and strengthening its distribution network and supply chain. Of course, omnichannel retailing helped enhance shopping experience. Moreover, a leaning towards health and wellness in products and packaging was seen across various FMCG categories.
A Neilsen study reported that the second quarter of 2023 saw the FMCG industry gain a value growth of 12.2 per cent, which was 1.3 per cent higher than during the same period in the previous year. The industry also saw consumption growth improve to 7.5 per cent for all of India. The report highlighted that even though rural growth staggered, it saw a four per cent growth compared to the previous year. Urban markets saw higher growth at 10.2 per cent when compared to the previous quarter.
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