India FMCG Market Size Worth USD 937.5 Billion by 2032

Written by Tushar Imarc » Updated on: November 19th, 2024

India FMCG Market Overview

Base Year: 2023

Historical Years: 2018-2023

Forecast Years: 2024-2032

Market Growth Rate: 18.24% (2024-2032)

Market Size in 2023: USD 207.5 Billion

Market Size in 2032: USD 937.5 Billion

According to the latest report by IMARC Group, the India FMCG market size reached USD 207.5 Billion in 2023. Looking forward, IMARC Group expects the market to reach USD 937.5 Billion by 2032, exhibiting a growth rate (CAGR) of 18.24% during 2024-2032. The market thrives with diverse products, rapid urbanization, and rising consumer spending driving robust growth and innovation.

India FMCG Market Trends and Drivers:

The rising disposable income among the middle class, which is expanding the consumer base for FMCG products, is one of the factors responsible for the growth of the India FMCG market. Additionally, the market is propelling owing to expanding urbanization as more people move to cities and adopt modern lifestyles, increasing the demand for convenience and packaged goods. Besides this, the rise of e-commerce platforms has also revolutionized the FMCG market, providing consumers with easier access to numerous products and driving sales. Moreover, the widespread adoption of smartphones and the internet has enabled digital marketing and online shopping, further propelling market growth.

Another notable trend is the growing consumer preference for health and wellness products. In addition to this, as awareness about health and nutrition increases, there is a rising demand for organic, natural, and health-oriented FMCG products. This shift is encouraging FMCG companies to innovate and diversify their product portfolios to include healthier options. Sustainability is also becoming a major trend, with consumers increasingly seeking eco-friendly and ethically sourced products. This is pushing companies to adopt sustainable practices in their operations and packaging. Furthermore, rural markets are emerging as significant growth drivers due to improved infrastructure and increased government initiatives aimed at rural development. Apart from this, companies are expanding their reach into these areas through localized strategies and distribution networks, which is anticipated to drive the India FMCG market over the forecasted period.

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India FMCG Market Segmentation:

Breakup by Product Type:

• Food and Beverages

o Juices and Drinks

o Tea and Coffee

o Fresh Food

o Others

• Personal Care and Cosmetics

o Body Care

o Hair Care

o Oral Care

o Skin Care

o Baby Care

• Health Care

o Feminine Care

o Over the Counter (OTC)

o Others

• Home Care

o Cleaning Products

o Fragrance

o Others

• Others

Breakup by Demographics:

• Urban

• Rural

Breakup by Sales Channel:

• Online

• Offline

Breakup by Region:

• Maharashtra

• Tamil Nadu

• Uttar Pradesh

• Gujarat

• Karnataka

• West Bengal

• Rajasthan

• Andhra Pradesh

• Telangana

• Madhya Pradesh

• Delhi NCR

• Punjab

• Haryana

• Others

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Key Highlights of the Report:

• Market Performance (2018-2023)

• Market Outlook (2024-2032)

• Market Trends

• Market Drivers and Success Factors

• Impact of COVID-19

• Value Chain Analysis

• Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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