COMPANIES LIKE NESTLE in instant coffee, Mondelez in chocolates, Britannia, ITC,and Parle Products in biscuits and cookies, and Godrej Consumer in insecticides, fabric softeners, and washing liquids have been aggressively expanding in recent quarters. They are investing in new capacity, launching new products, and broadening distribution networks for good reason.
Household consumption for the above-mentioned categories (six in all) in calendar 2023, according to Kantar Worldpanel data, saw a significant jump versus the previous year, driven by stable urban demand. But there is another side to the story.
Out of the over 90 categories tracked by the market research agency, 50% experienced a decline in consumption in 2023. This includes segments like cooking oils, where household consumption dropped by 1.4 litres; washing powders, which lost 300 grams per household; Basmati rice, with a decrease of 180 grams per household; and salt, which saw a reduction of 80 grams per household, according to Kantar Worldpanel data.
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