The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
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Learn more52 pages, Oct 2015
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All fmcg industries in India have growth potential, which will be shaped by changing consumer behaviour and expenditure. Richer households will drive growth in discretionary products while the rest of the population embrace essentials. This briefing looks at the fmcg landscape now and in the future, highlighting the trends and drivers that players in India need to be aware of.
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Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.
The top three industries by value sales in India are apparel and footwear, personal accessories and packaged food. These together account for over 50% of all retail sales in India.
Indian fmcg industries have higher growth potential when compared to the world, due to the growth stage of the industries. The top three industries will continue to lead; however, faster growing categories will provide new avenues for growth.
Principal industries grow due to an increasing consumer base and uptake of essential/staples, while lifestyle industries benefit from rising discretionary spending. Unmet potential in staples will provide the base for growth. Within principal industries, especially packaged foods, the difference between value-driven and volume-driven categories is dictated by income elasticity.
Consumers in India are slowly moving beyond basic necessities. As household incomes and disposable incomes grow, the share of spending on leisure and recreation and miscellaneous good and services will witness stronger growth than categories constituted by basic necessities.
International players are trying to mould their products and offerings to local needs. This is one of the keys to succeed in a diverse market like India. Domestic players are giving them a run for money by providing value and harnessing their knowledge of Indian consumers and preferences.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.