Advertisement

  • News
  • Columns
  • Interviews
  • BW Communities
  • Events
  • BW TV
  • Subscribe to Print
BW Businessworld

FMCG Industry Clocks 10.9 Per Cent Growth: Reports

A 10.9 per cent growth in terms of value was clocked by the FMCG Industry in India, for the first quarter ending in June.

Photo Credit : Shutterstock

1492416121_a9jJMK_FMCG-Shoppers-in-Big-Bazaar-st.jpg

A 10.9 per cent growth in terms of value was clocked by the FMCG Industry in India, for the first quarter ending in June. Major reasons attributed to this are the rising consumption, according to a report.


The NielsenIQ data suggests that as the unit volume increased on a sequential basis in the first quarter, the overall consumption has seen a revival. On the same hand, on a yearly basis, a negative growth of 0.7 per cent was also noted in this quarter, due to a slump in rural markets. The urban markets marked a positive growth of 0.6 per cent.


The report also suggested a positive momentum in volume besides the price-led growth. From -4.1 per cent volume growth in the same quarter, previous fiscal to -0.7 per cent this quarter, there has been a slight improvement.


Satish Pillai, Managing Director, NielsenIQ said, "A tempering of these would help propel growth further in the last quarter. It is important to note that the consumption uptick has come from the unit growth as a predominant driver of FMCG for the quarter.”


There has been an overall growth of 10.9 per cent in the FMCG industry and Pillai suggests that the latest trend beats the last two quarters of consumption decline and highlights the onset of cautious optimism among consumers.


"Also, the consumption recovery and promising macro factors support NielsenIQ's forecast of double-digit growth for 2022. The decline in consumption from the last couple of quarters is arrested for foods in rural markets but it is yet to come back to a positive consumption growth for non-foods," Pillai added.

(PTI)


Tags assigned to this article:
fmcg fmcgs fmcg sector