Fast-Moving Consumer Goods News: What You Need to Know in 2023
Fast-moving consumer goods (FMCG) are products that are sold quickly and at a relatively low cost. Examples include non-durable goods such as packaged foods, beverages, toiletries, over-the-counter drugs, and other consumables. FMCG is one of the most dynamic and competitive industries in the world, with constant changes in consumer preferences, channel landscape, and innovation trends. In this article, we will explore some of the latest news and developments in the FMCG industry, based on web search results from reputable sources.
FMCG Packaging Market Growth Status and Foresight till 2030
Packaging is a crucial element of the FMCG industry, as it not only protects the product but also communicates its value proposition, brand identity, and sustainability credentials to the consumers. According to a new research report by MarketWatch , the global FMCG packaging market is expected to grow at a compound annual growth rate (CAGR) of 4.5% from 2020 to 2030, reaching $348.92 billion by 2030.
The report attributes this growth to several factors, such as rising demand for convenience products, increasing disposable income, growing e-commerce penetration, and rising environmental awareness among consumers. The report also identifies some of the key trends and challenges in the FMCG packaging market, such as increasing adoption of smart packaging solutions, growing preference for flexible packaging formats, rising regulatory compliance requirements, and increasing competition from private labels.
Fast Moving Consumer Goods (FMCG) Market 2023 | Overwhelming Hike In Revenues by 2031
The FMCG market is one of the largest and most diverse sectors in the global economy, encompassing a wide range of products and categories that cater to different consumer needs and occasions. According to another research report by MarketWatch , the global FMCG market is projected to reach $15.4 trillion by 2031, registering a CAGR of 5.4% from 2023 to 2031.
The report highlights some of the key drivers and opportunities for the FMCG market growth, such as increasing population, urbanization, income levels, health awareness, digitalization, innovation, and globalization. The report also segments the FMCG market by product type (food and beverages, personal care products, household care products), distribution channel (online retailing, supermarkets/hypermarkets), region (North America), Europe), Asia-Pacific), Latin America), Middle East & Africa), and company (Procter & Gamble), Unilever), Nestlé), Coca-Cola), PepsiCo).
These 2 A-Rated Consumer Goods Stocks Are a Buy for This Week
The consumer goods sector tends to perform relatively well, irrespective of market conditions. Also, given rebounding consumer sentiments , consumer goods stocks Unilever (UL) and Yue Yuen Industrial (YUEIY) could deliver solid returns in the near term.
Unilever is one of the world's leading FMCG companies, with a portfolio of more than 400 brands across various categories such as food and beverages (Knorr), personal care products (Dove), household care products (Omo), and health and wellness products (Horlicks). The company operates in more than 190 countries and regions, serving 2.5 billion consumers every day. Unilever has been investing in innovation, digital transformation, sustainability, and social responsibility to drive its growth and competitive advantage.
Yue Yuen Industrial is a leading manufacturer of footwear and apparel products for global brands such as Nike, Adidas, Reebok, Puma, and New Balance. The company has a diversified production base across Asia, with more than 400,000 employees. Yue Yuen Industrial has been focusing on enhancing its operational efficiency, product quality, and customer service to meet the changing market demands and consumer preferences.