PLM In Consumer Goods Market size was valued at USD 2.44 Billion in 2023 and is projected to reach USD 3.58 Billion by 2030, growing at a CAGR of 10% during the forecast period 2024-2030.

Global PLM In Consumer Goods Market Drivers

The market drivers for the PLM In Consumer Goods Market can be influenced by various factors. These may include:

Market Competition: Businesses in the consumer goods sector are driven to find methods to set their products apart from the competition, accelerate time to market, and improve product quality. PLM systems assist businesses in managing product data effectively, streamlining the product development process, and fostering productive departmental and external partner collaboration.

Demand for Innovation: As consumer tastes change over time, there is an increasing need for items that are new and that provide special features, improved functionality, and sustainability. PLM systems help businesses develop more quickly by streamlining communication, organizing concepts, and successfully launching new goods.

Globalization and the Complexity of the Supply Chain: Companies that manufacture consumer goods compete on a worldwide scale, which presents challenges for supply chain managers, legal compliance, and quality assurance. PLM solutions give businesses access and control across the whole product lifecycle, from design and sourcing to production and distribution, assisting them in more skillfully navigating the challenges of a global supply chain.

Regulatory Compliance: A number of laws pertaining to environmental sustainability, product safety, and labeling apply to the consumer goods sector. Through the provision of tools for tracking and managing product information, certifications, and documentation throughout the product lifecycle, PLM solutions assist businesses in ensuring compliance with regulatory standards.

Cost Reduction and Efficiency Improvement: Consumer products companies face pressure to cut costs and boost operational efficiency in an increasingly competitive market. PLM systems contribute to process optimization, shorter time-to-market, reduced errors, and waste elimination, all of which save costs and increase profitability.

Digital Transformation: As businesses look to use technology to improve collaboration, streamline processes, and extract insights from data, PLM solutions are becoming more and more popular in the consumer products industry. In order to further enhance the processes involved in product development and innovation, PLM platforms are growing to include cutting-edge technology like artificial intelligence, machine learning, and the Internet of Things.

Corporate Social Responsibility (CSR) and Sustainability: The consumer goods industry is seeing an increase in the focus on sustainability and corporate social responsibility (CSR) due to consumer demand for eco-friendly products and moral company conduct. PLM systems may assist businesses in meeting sustainability targets and improving their brand image by assisting them in incorporating sustainability concerns into product design, sourcing choices, and supply chain management procedures.

Snapshot img

Consumer Packaged Goods Market Size 2025-2029

The consumer packaged goods market size is forecast to increase by USD 1,476.3 billion at a CAGR of 4.9% between 2024 and 2029.

The market is experiencing significant growth, driven by several key trends. One notable trend is the increasing sales of CPG products through e-commerce channels. With the convenience and accessibility offered by online shopping, consumers are increasingly turning to e-commerce platforms to purchase their favorite CPG products. Personalized fragrances and skincare products are emerging trends, catering to the growing demand for customized offerings.
Additionally, another trend shaping the market is the rise of direct-to-consumer (D2C) brands. These brands are disrupting traditional retail models by selling their products directly to consumers, often through their own websites or social media channels. Additionally, global inflation and supply chain disruptions continue to pose challenges for CPG companies, requiring them to adapt and innovate to meet consumer demand. Overall, these trends and challenges present both opportunities and risks for players in the CPG market.

What will be the Size of the Consumer Packaged Goods Market During the Forecast Period?

To learn more about the market report, Request Free Sample

The market in emerging nations is experiencing significant growth due to rising disposable income and increasing urbanization. With per capita income on the rise, consumers in these regions are developing a preference for clothes and various CPG products. However, challenges persist in the form of pollution and incorrect labeling, which can negatively impact consumer trust. The future prospects for the CPG industry are promising, with competition intensifying as more players enter the market. Volatile commodity prices and regulatory challenges pose significant risks, necessitating strategic planning and adaptability.
Moreover, private label brands are gaining popularity due to their affordability and perceived quality, putting pressure on established players. E-commerce and online shopping have revolutionized the way consumers purchase CPG products, enabling greater convenience and accessibility. Despite these challenges, the CPG industry in emerging nations presents numerous opportunities for growth. Companies must navigate regulatory landscapes, ensure product quality, and adapt to evolving consumer preferences to succeed in this dynamic market.

How is the Consumer Packaged Goods Market Segmented?

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Product

  Food and beverages
  Personal care and cosmetics
  Household supplies
  Pharmaceuticals
  Others


Distribution Channel

  Offline
  Online


Geography

  North America

    Canada
    US


  Europe

    Germany
    UK
    France
    Italy


  APAC

    China
    India
    Japan


  South America

    Brazil


  Middle East and Africa

By Product Insights

The food and beverages segment is estimated to witness significant growth during the forecast period.

In today's fast-paced world, consumers prioritize convenience and sustainability in their purchasing decisions, particularly in the market. With the rise of dual-income households and busy lifestyles, the demand for ready-to-eat food with longer shelf lives has increased. Packaged foods and beverages cater to this need, allowing consumers to minimize food preparation time and reduce food waste. The longer shelf lives of these products contribute to sustainability goals by decreasing the likelihood of spoilage at both the consumer and retail levels. Moreover, the economic benefits of purchasing in bulk and having a stock of food items with extended shelf lives appeal to budget-conscious consumers. As consumers become more environmentally aware, the CPG industry's focus on sustainability will continue to grow, ensuring the market's long-term success.

Get a glance at the market report of share of various segments. Request Free Sample

The food and beverages segment was valued at USD 1,625.50 billion in 2019 and showed a gradual increase during the forecast period.

Regional Analysis

North America is estimated to contribute 35% to the growth of the global market during the forecast period.

Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

For more insights on the market share of various regions, Request Free Sample

The North American market is witnessing expansion due to various factors. Primary drivers include the rise in disposable income and evolving lifestyles in nations like the US and Canada, leading to increased consumer expenditure on c

The Testing, Inspection, and Certification Market in the Consumer Goods and Retail Industry is Segmented by Service Type (Testing and Inspection Service, Certification Service), by Sourcing Type (Outsourced, In-house), and by Geography. The market sizes and forecasts are provided in terms of value (USD million) for all the above segments.

North America: The US is the dominant market in this region, with significant contributions from key FMCG players. Canada and Mexico are also important markets, benefiting from proximity to the US and growing consumer spending.Europe: Western Europe is the largest FMCG market in this region, driven by developed economies such as Germany, UK, and France. Eastern Europe is experiencing growth, but challenges remain due to variations in purchasing power and distribution channels.Asia-Pacific: China and India are the major markets in this region, with increasing urbanization and rising consumer spending. Japan, South Korea, and Southeast Asian countries are also contributing to the growth.Latin America: Brazil and Mexico are the leading FMCG markets in this region. Economic growth and increasing urbanization are driving market expansion.Middle East & Africa: This region is characterized by a growing population, increasing disposable income, and modernizing retail infrastructure. Saudi Arabia, UAE, and Egypt are key markets in this region. Recent developments include: March 2021: Nestle Sa has launched its two new syrup categories which ultimately taste like freshly-baked cookies. The launch of this product further enhances the sectoral growth of the business.., July 2021: PepsiCo announced its new products with reduced sugar content by 25% in sodas and iced tea in the European region. Through this technology the company aims to catch the attention of health-conscious consumers., June 2023: Nestle SA has launched its two new plant-based dairy alternative products, under its Barista brand name. The development has taken place in the Chinese market wherein it will focus on the oat and pea-based food products in the market., May 21, 2024: PepsiCo Beverages North America (PBNA) announced today that it is growing its fleet of electric vehicles throughout the state of California. Within the next few months, the Fresno, California-based company will be operating fifty Class 8 Tesla Semi trucks out of its manufacturing and distribution facilities, and 75 Ford E-Transit electric vans will revolutionize the electrification of its equipment services fleet throughout the state. The firm will get closer to its audacious pep+ (PepsiCo Positive) target of reaching net zero emissions by 2040 with the support of the electric car rollout.. Key drivers for this market are: RISING HEALTH AWARENESS AMONG THE CONSUMERS 39, INCREASING INCLINATION TOWARDS DIGITAL TECHNOLOGY TO AID MARKET GROWTH 39; DRIVER IMPACT ANALYSIS 40. Potential restraints include: HIGH COST OF THE PRODUCT TO HAMPER MARKET GROWTH 40, RESTRAINT IMPACT ANALYSIS 41. Notable trends are: Growth Of the Organized Retail Sector in the Asia-Pacific Region.

The Vietnam consumer goods market is valued at USD 54 billion, driven by the increasing urban population, which has led to a surge in demand for both essential and luxury consumer goods.

As of the first quarter of 2024, telecommunications equipment held 59 percent of the market share of technical consumer goods (TCG) in Indonesia. This was a slight increase compared to the market share in the same quarter in 2023. Meanwhile, major domestic appliances made up 13 percent of consumer spending on TCG in the country.

Explore the Consumer Goods And General Rental Centers Market trends! Covers key players, growth rate 8.2% CAGR, market size $264.5 Billion, and forecasts to 2034. Get insights now!

Success.ai’s Consumer Behavior Data for Consumer Goods & Electronics Industry Leaders in Asia, the US, and Europe offers a robust dataset designed to empower businesses with actionable insights into global consumer trends and professional profiles. Covering executives, product managers, marketers, and other professionals in the consumer goods and electronics sectors, this dataset includes verified contact information, professional histories, and geographic business data.

With access to over 700 million verified global profiles and firmographic data from leading companies, Success.ai ensures your outreach, market analysis, and strategic planning efforts are powered by accurate, continuously updated, and GDPR-compliant data. Backed by our Best Price Guarantee, this solution is ideal for businesses aiming to navigate and lead in these fast-paced industries.

Why Choose Success.ai’s Consumer Behavior Data?

1. Verified Contact Data for Precision Engagement

   • Access verified email addresses, phone numbers, and LinkedIn profiles of professionals in the consumer goods and electronics industries.
   • AI-driven validation ensures 99% accuracy, optimizing communication efficiency and minimizing data gaps.

2. Comprehensive Global Coverage

   • Includes profiles from key markets in Asia, the US, and Europe, covering regions such as China, India, Germany, and the United States.
   • Gain insights into region-specific consumer trends, product preferences, and purchasing behaviors.

3. Continuously Updated Datasets

   • Real-time updates capture career progressions, company expansions, market shifts, and consumer trend data.
   • Stay aligned with evolving market dynamics and seize emerging opportunities effectively.

4. Ethical and Compliant

   • Fully adheres to GDPR, CCPA, and other global data privacy regulations, ensuring responsible use and legal compliance for all data-driven campaigns.

Data Highlights:

• 700M+ Verified Global Profiles: Connect with industry leaders, marketers, and decision-makers in consumer goods and electronics industries worldwide.
• Consumer Trend Insights: Gain detailed insights into product preferences, purchasing patterns, and demographic influences.
• Business Locations: Access geographic data to identify regional markets, operational hubs, and emerging consumer bases.
• Professional Histories: Understand career trajectories, skills, and expertise of professionals driving innovation and strategy.

Key Features of the Dataset:

1. Decision-Maker Profiles in Consumer Goods and Electronics

   • Identify and engage with professionals responsible for product development, marketing strategy, and supply chain optimization.
   • Target individuals making decisions on consumer engagement, distribution, and market entry strategies.

2. Advanced Filters for Precision Campaigns

   • Filter professionals by industry focus (consumer electronics, FMCG, luxury goods), geographic location, or job function.
   • Tailor campaigns to align with specific industry trends, market demands, and regional preferences.

3. Consumer Trend Data and Insights

   • Access data on regional product preferences, spending behaviors, and purchasing influences across key global markets.
   • Leverage these insights to shape product development, marketing campaigns, and customer engagement strategies.

4. AI-Driven Enrichment

   • Profiles enriched with actionable data allow for personalized messaging, highlight unique value propositions, and improve engagement outcomes.

Strategic Use Cases:

1. Marketing and Demand Generation

   • Design campaigns tailored to consumer preferences, regional trends, and target demographics in the consumer goods and electronics industries.
   • Leverage verified contact data for multi-channel outreach, including email, social media, and direct marketing.

2. Market Research and Competitive Analysis

   • Analyze global consumer trends, spending patterns, and product preferences to refine your product portfolio and market positioning.
   • Benchmark against competitors to identify gaps, emerging needs, and growth opportunities in target regions.

3. Sales and Partnership Development

   • Build relationships with key decision-makers at companies specializing in consumer goods or electronics manufacturing and distribution.
   • Present innovative solutions, supply chain partnerships, or co-marketing opportunities to grow your market share.

4. Product Development and Innovation

   • Utilize consumer trend insights to inform product design, pricing strategies, and feature prioritization.
   • Develop offerings that align with regional preferences and purchasing behaviors to maximize market impact.

Why Choose Success.ai?

1. Best Price Guarantee
   • Access premium-quality consumer behavior data at competitive prices, ensuring maximum ROI for your outreach, research, and ma...

Consumer Packaged Goods (CPG) Market size was valued at USD 5483.4 Billion in 2023 and is projected to reach USD 6615.5 Billion by 2030, growing at a CAGR of 2.8% during the forecast period 2024-2030.

Global Consumer Packaged Goods (CPG) Market Drivers

The market drivers for the Consumer Packaged Goods (CPG) Market can be influenced by various factors. These may include:

Changing Customer Preferences: A variety of factors, including changes in lifestyle, demographics, urbanization, and culture, constantly influence consumer preferences and behaviors. CPG companies need to offer products that fit the needs, tastes, and values of their customers in order to adjust to these shifting preferences.
Product development and innovation: In the CPG industry, innovation is a major force. Businesses spend money on R&D to produce cutting-edge goods that satisfy changing consumer demands, outperform competitors, improve convenience, and add value. The introduction of new products and strategies for product differentiation propel market expansion and rivalry.
Trends in Health and Wellness: Consumers are searching for CPG products that support health, nutrition, and overall well-being as they become more conscious of these issues. Organic, natural, non-GMO, and functional products are becoming more and more in demand as consumers prioritize leading healthier lives. In response, CPG companies provide healthier substitutes and restructure current products to align with consumer inclinations.
E-commerce and Digital Transformation: The CPG industry is undergoing a revolution thanks to the spread of digital technologies and e-commerce channels. Because online shopping platforms offer convenience, variety, and personalized experiences, more and more consumers are choosing them. CPG businesses use omnichannel distribution, digital marketing, e-commerce tactics, and data analytics to increase market share, engage customers, and boost revenue.
Easy Living and Always-On Lifestyles: The demand for easy-to-consume, portable, portion-controlled CPG products that are portable is driven by time constraints and busy lifestyles. Snacking bars, grab-and-go options, single-serve packaging, and ready-to-eat meals all appeal to customers looking for quick and convenient meal solutions.
Sustainability and Environmental Concerns: In the CPG business, consumers’ decisions to buy are influenced by their growing awareness of environmental issues and concerns about sustainability. Sustainable sourcing methods, recyclable packaging, and environmentally friendly goods are top priorities for consumers. To meet consumer expectations and improve brand reputation, CPG companies implement sustainable initiatives, minimize waste, lower their carbon footprint, and embrace the principles of the circular economy.
Demographic Trends: The dynamics of the CPG market are shaped by demographic variables such as population growth, urbanization, aging populations, and household composition. Businesses customize their product lines, package designs, and advertising tactics to appeal to particular consumer demographics, including millennials, Gen Z, baby boomers, families, and multiculturals.
Globalization and Emerging Markets: Globalization gives CPG companies more market opportunities to enter emerging markets and new geographic areas. Consumer spending on CPG products is driven by growing middle-class populations, urbanization, and rising disposable incomes in developing nations. To prosper in a variety of international markets, businesses must modify their marketing tactics, localize their product offerings, and handle regulatory environments.
The COVID-19 pandemic has brought to light the significance of resilient and agile supply chains in the consumer packaged goods (CPG) sector. In order to increase flexibility, responsiveness, and continuity during disruptions and volatile market conditions, businesses concentrate on supply chain optimization, inventory management, risk mitigation, and digitalization.

The market size of the Fast Moving Consumer Goods FMCG And Consumer Packaged Goods CPG Market is categorized based on Type (by Product Type, Processed Foods, Prepared Meals, Beverages, Baked Goods, Fresh, Frozen Goods & Dry Goods, Medicine, Cleaning Products, Cosmetics & Toiletries, Office Supplies, by Sales Channel, Supermarkets & Hypermarkets, Grocery Stores, Specialty Stores, E-commerce, Others) and Application (Household Use, Catering Industry (Restaurant, Hotel, Bar, etc.), Others) and geographical regions (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa).

This report provides insights into the market size and forecasts the value of the market, expressed in USD million, across these defined segments.

Food & Beverage: Staple goods, processed foods, and beverages form the foundation of the market. Cosmetics & Personal Care: Products like skincare, haircare, and cosmetics are influenced by fashion and beauty trends. Pharmaceuticals: This segment includes prescription drugs, over-the-counter medications, and vitamins, addressing health and well-being. Nutraceuticals: These products bridge the gap between food and pharmaceuticals, offering health benefits beyond basic nutrition. Other Segments: Home care, pet care, and office supplies also contribute significantly to market diversification. Recent developments include: In July 2022, Procter & Gamble (P&G)- one of the big giants of consumer goods launched updated versions for virtual shopping in the Southeast Asian market., In October 2022, Tata Consumer Products, and Marico announced the launch of new products under the brand name Saffola., April 19, 2024, Procter & Gamble Company announced net revenues of $20.2 billion for the third quarter of its fiscal year 2024, up 1% from the same period last year. Excluding the effects of foreign exchange and acquisitions and divestitures, organic revenues rose by three percent. There was an 11% rise in diluted net earnings per share to $1.52 from the previous year., For the quarter, net earnings were $3.8 billion and operating cash flow was $4.1 billion. Calculated as operational cash flow less capital expenditures as a proportion of net earnings, adjusted free cash flow productivity was 87%. Through share repurchases of $1 billion and dividend payments of about $2.3 billion, the Company gave $3.3 billion in cash back to its shareholders. This month's dividend increase represents the 68th straight., In 2024, IBM announced a collaboration with SAP to develop solutions to help clients in the consumer packaged goods and retail industries improve their supply chain, finance operations, sales, and services using generative AI. IBM is collaborating with SAP to develop new generative and traditional AI solutions to address the complexities of the direct store delivery business process and product portfolio management, building on a shared legacy of technology expertise and the successful integration of IBM Watsonx, an enterprise-ready AI and data platform, and AI assistants, into SAP solutions. IBM Consulting and SAP are already working with global CPG clients to gather precise requirements for safe and scalable AI solutions that can be connected with the SAP Direct Distribution® solution.. Notable trends are: The ongoing demand for convenience products among the population is skyrocketing the demand..

Sales in China, Europe, and North America are forecast to account for 70 percent of the global market share of technical consumer goods in 2019. China's share of 25 percent is forecast to be greater than the combined share of 17 percent for all other countries in developed and emerging Asia.

The global market for technical consumer goods is forecast to surpass 1,050 billion euros in sales in 2019.

Success.ai’s Consumer Marketing Data for Food, Beverage & Consumer Goods Professionals Globally provides a comprehensive dataset tailored for businesses seeking to connect with decision-makers and marketing professionals in these dynamic industries. Covering roles such as brand managers, marketing strategists, and product developers, this dataset offers verified contact details, decision-maker insights, and actionable business data.

With access to over 700 million verified global profiles, Success.ai ensures your marketing, sales, and research efforts are powered by accurate, continuously updated, and AI-validated data. Backed by our Best Price Guarantee, this solution is essential for businesses aiming to lead in the food, beverage, and consumer goods sectors.

Why Choose Success.ai’s Consumer Marketing Data?

1. Verified Contact Data for Precision Targeting

   • Access verified work emails, phone numbers, and LinkedIn profiles of marketing professionals, brand leaders, and product strategists.
   • AI-driven validation ensures 99% accuracy, minimizing communication errors and maximizing outreach success.

2. Comprehensive Coverage Across Global Markets

   • Includes profiles of professionals from food and beverage companies, consumer goods manufacturers, and marketing agencies in key markets worldwide.
   • Gain insights into regional trends in product marketing, consumer engagement, and purchasing behaviors.

3. Continuously Updated Datasets

   • Real-time updates capture changes in professional roles, company strategies, and market trends.
   • Stay aligned with the fast-evolving consumer goods industry to identify emerging opportunities.

4. Ethical and Compliant

   • Fully adheres to GDPR, CCPA, and other global data privacy regulations, ensuring responsible and lawful data usage.

Data Highlights:

• 700M+ Verified Global Profiles: Connect with decision-makers, marketers, and product managers in the food, beverage, and consumer goods sectors worldwide.
• Leadership Insights: Gain detailed profiles of brand managers, marketing executives, and product developers shaping consumer trends.
• Contact Details: Access verified phone numbers and work emails for precision outreach.
• Industry Trends: Understand global marketing trends, regional consumer preferences, and market dynamics.

Key Features of the Dataset:

1. Comprehensive Professional Profiles

   • Identify and connect with key professionals managing brand strategies, product launches, and marketing campaigns in the food, beverage, and consumer goods industries.
   • Access data on career histories, certifications, and market expertise for targeted outreach.

2. Advanced Filters for Precision Campaigns

   • Filter professionals by industry focus (snack foods, beverages, household goods), geographic location, or job function.
   • Tailor campaigns to align with specific needs such as product placement, consumer engagement, or regional expansion.

3. Regional Trends and Consumer Insights

   • Leverage data on consumer preferences, product demand, and spending patterns in key markets.
   • Use these insights to refine product offerings, marketing strategies, and audience targeting.

4. AI-Driven Enrichment

   • Profiles enriched with actionable data enable personalized messaging, highlight unique value propositions, and improve engagement outcomes.

Strategic Use Cases:

1. Marketing Campaigns and Brand Outreach

   • Design targeted campaigns for food, beverage, and consumer goods products based on verified data and consumer insights.
   • Leverage multi-channel outreach, including email, phone, and digital advertising, to maximize engagement.

2. Product Development and Launch Strategies

   • Utilize consumer trend data to guide product development and market entry strategies.
   • Collaborate with brand managers and marketing professionals to align offerings with consumer preferences.

3. Sales and Partnership Development

   • Build relationships with distributors, retailers, and marketers in the consumer goods supply chain.
   • Present co-branding opportunities, joint marketing campaigns, or distribution strategies to decision-makers.

4. Market Research and Competitive Analysis

   • Analyze global trends in consumer goods marketing, product innovations, and purchasing behaviors to refine strategies.
   • Benchmark against competitors to identify growth opportunities, underserved markets, and high-demand products.

Why Choose Success.ai?

1. Best Price Guarantee

   • Access premium-quality consumer marketing data at competitive prices, ensuring strong ROI for your marketing, sales, and product development efforts.

2. Seamless Integration

   • Integrate verified data into CRM systems, marketing platforms, or analytics tools via APIs or downloadable formats, streamlining workflows and enhancing productivity.

3. Data Acc...

The Electronics & Consumer Goods Plastics Market Share size & share value expected to touch USD 483.29 billion by 2034, to grow at a CAGR of 38.3% during the forecast period.

This table contains 63 series, with data for years 2007 - 2012 (not all combinations necessarily have data for all years), and was last released on 2015-06-22. This table contains data described by the following dimensions (Not all combinations are available): Geography (1 items: Canada ...), North American Industry Classification System (NAICS) (3 items: Consumer goods and general rental; General rental centres; Consumer goods rental ...), Industry expenditures (21 items: Total operating expenses; Professional and business services fees; Salaries; wages and benefits; Commissions paid to non-employees ...).

The size and share of the market is categorized based on Type (Hot Melt Adhesives, Water-Based Adhesives, Solvent-Based Adhesives, Reactive Adhesives) and Application (Packaging, Electronics, Textiles, Footwear, Furniture) and geographical regions (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa).

The market size of the Fast Moving Consumer Goods FMCG Packaging Market is categorized based on Type (Protective Packaging, Flexible Packaging, Paper-Based Packaging, Rigid Plastic Packaging, Custom Packaging) and Application (Food & Beverages, Cosmetics) and geographical regions (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa).

This report provides insights into the market size and forecasts the value of the market, expressed in USD million, across these defined segments.

Fast Moving Consumer Goods (FMCG) Market size was valued at USD 11.2 Billion in 2023 and is projected to reach USD 15.6 Billion by 2031, growing at a CAGR of 5.2% during the forecast period 2024-2031.

Global Fast Moving Consumer Goods (FMCG) Market Drivers

The market drivers for the Fast Moving Consumer Goods (FMCG) Market can be influenced by various factors. These may include:

Urbanization: Urbanization is a primary driver for the FMCG market as more individuals move to cities, leading to higher disposable income and changing consumption patterns. Urban dwellers prioritize convenience, which boosts the demand for packaged and easily accessible products.

E-commerce Growth: The surge in e-commerce platforms has transformed the FMCG landscape significantly. Consumers increasingly prefer online shopping for its convenience, variety, and competitive pricing. With the COVID-19 pandemic accelerating the digital shift, FMCG brands must establish a strong online presence to capture market share.

Fast-Moving Consumer Goods Packaging Market size was valued at USD 730.96 Billion in 2024 and is projected to reach USD 1,180.70 Billion by 2031, growing at a CAGR of 7.09% during the forecast period 2024-2031.

Global Fast-Moving Consumer Goods Packaging Market Drivers

Shifting Lifestyles of Consumers: Packaging that improves product accessibility, portability, and simplicity of use is necessary due to changing consumer lifestyles that are marked by hectic schedules and a desire for convenience.
Growth of E-Commerce: Strong and effective packaging is required due to the FMCG products’ fast expansion into e-commerce channels. When it comes to guaranteeing the safe and secure delivery of products purchased online, packaging is essential.
Novel Approaches to Packaging Materials: Consumer desires for packaging that is ecologically friendly are being met by continuous innovation in packaging materials, which includes sustainable and eco-friendly solutions. Materials that are recyclable and biodegradable are becoming more popular.
Shelf Appeal and Differentiation of Brands: To stand out on crowded retail shelves, FMCG firms concentrate on developing distinctive and visually appealing packaging designs. A crucial component of brand identity and drawing in customers is packaging.
Increasing Net Worth: Rising levels of disposable income are a contributing factor to the rising demand for premium and value-added FMCG products, especially in emerging economies. This makes high-quality packaging essential for boosting the allure of the product.
Trends in Health and Wellbeing: The market for products with characteristics like portion control, freshness preservation, and packaging that encourages healthy consumption patterns is rising as people’s awareness of health and wellbeing increases.

As per Cognitive Market Research's latest published report, the Global FMCG market size was USD 12,490.91 Billion in 2022 and it is forecasted to reach USD 17,939.41 Billion By 2030. FMCG Industry's Compound Annual Growth Rate will be 6.11 % from 2023 to 2030. What is Driving FMCG Industry Growth?

Increasing consumer awareness about FMCG products, and the regular launch of new products by manufacturers is the major factor expected to drive the growth of the FMCG market. In addition, increasing advertisement of brands, strong distribution channel systems, and changes in the lifestyle of consumers in developed and developing countries are expected to drive the growth of the target market. Furthermore, the increasing trend of online shopping and expansion of the FMCG network in rural areas of developing countries are expected growth opportunities for the FMCG market in the forecast period. However, rising competition between key market players is expected to hamper the growth of the FMCG market. What is FMCG?

FMCG (fast-moving consumer goods) is known as consumer-packaged goods. The FMCG market includes a wide range of durable and non-durable consumer products, which include soap, toiletries, cosmetics, shaving products, tooth cleaning products, detergents, and non-durable consumer products such as glassware, paper products, and others.