Consumer Goods

Consumer goods (CG) industry provides a wide range of daily usable products that are manufactured according to individual usage and as per end user requirements. Consumer goods industry is a flourishing and intensifying industry due to its fast processing and quick customer services. Consumer goods mainly consist of food products and beverages, healthcare products, cosmetics products, household cleaning products, variety of home appliances, electrical & electronic goods and so on. On the basis of product durability, consumer goods are divided into two categories; durable consumer goods and non-durable consumer goods. Durable consumer goods consist of long lasting products whereas non-durable consumer goods mainly include single usable products. Non-durable consumer goods are referred as fast moving consumer goods (FMCG) or consumer packaged goods (CPG). Demand for non-durable consumer goods is more than durable consumer goods due to their less shelf life. Durable consumer goods have high life span of one to three years which leads to comparatively lesser investment by end users. Durable consumer goods are further sub divided into white consumer goods (air conditioners, refrigerators, and washing machines), brown consumer goods (mixers, grinders, iron, and fans) and electronics consumer goods (TVs, PCs, cameras, and mobile phones).

Opportunities to be a part of global consumer goods industry

Over the last 25 years, the consumer goods industry has demonstrated high growth in comparison with other goods industries. Continuously increasing demand of consumer goods across the world is drawing attention of manufacturers, retailers, management authorities to invest in this industry. Rapid urbanization, coupled with changing lifestyle is driving demand for consumer goods from end user industries. These industries hold a high share in social as well as economic growth of the country as they create bulk employment opportunities. The consumer goods industry depends on technology by other industries to sustain its products in the market. Latest technology such as Internet of Things (IOT) is helping the consumer goods industry towards better use of data to benefit retailers and customers. Increasing health awareness is driving demand for personal healthcare products. Demand for private labeled consumer goods is attracting global manufacturers and retailers to invest more. Proliferation of social networking services is allowing manufacturers of consumer goods to advertise their products and expand their consumer base. Changing government regulations such as the government of India's relaxation of license rules and approval of 51% foreign direct investment (FDI) in multi-brand and 100% in single-brand retail are driving the growth of the consumer goods industry. Significant trade of consumer goods across the globe is also favoring the growth of this industry.

Changing lifestyle of consumers is also contributing to the growth of the consumer goods market. In 2016, North America dominated the global consumer goods market and the trend is expected to continue due to increasing health awareness in the region. The FMCG industry contributes 6% of the U.S GDP. The increasing population along with specific brand demand has made Asia Pacific the second largest market in the global consumer goods market. According to India Brand Equity Foundation, the revenue share of the FMCG industry in India has increased by 11% over the last decade. Urban markets account for the major share (65%) of the total revenue generated by the consumer durables industry in India. In 2015, revenue generated by the consumer durables industry in India was US$ 9.7 billion, which further increased to US$ 12.5 billion in 2016. There is a lot of scope for growth from rural markets with consumption expected to grow over the forecast period. Latin America is expected to exhibit significant growth in the next 10 years due to influence of the western culture and rising demands for consumer goods in the region.

Key challenges in front ofglobal consumer goods Industry

To compete in global market, consumer goods industries should be aware of all operational, marketing challenges such as,

  • Product differentiation refers to the ability of a seller to show how their product or service id different from other competitors. This is one of the major challenges faced by players operating in the consumer goods industry.
  • Adherence to various government regulations across different regions.
  • Changing consumer habits
  • Falling prices due to rise in competition is a major worrying factor for manufacturers. Companies are struggling to maintain product quality in accordance with the rising manufacturing cost.
  • Relaxation of import regulations is creating tough competition between local industries and leading brand industries.

Key global summits for consumer goods industry 

Global summits are helpful for new industries to gain knowledge because issues such as product analysis techniques, opportunities for profitable growth in the global market, retail regulations, recent trend and challenges in industries and many more are discussed by CG industry experts. For instance,

  • Retail and Consumer Goods Analytics summit 2017, Chicago.
  • 14th Annual Consumer Goods sales and marketing summit 2017, New York.
  • 61st Global summit for CGF 2017, Berlin, Germany.
  • The CGF sustainable Retail summit 2017, Montreal.
  • The Future Leader Congress – 2017, Stockholm.

Key players in global consumer goods industry

Some of the leading players operating in the global consumer goods market are Nestle SA, The Procter & Gamble Company, Unilever PLC, PepsiCo Inc., The Coca Cola Company, Imperial Tobacco Group, Anheuser Bush InBev SA, JBS SA, Mondelez International Inc., Tyson Food Inc., LL’Oréal SA, Phillip Morris International, 3M Company, Danone, Heineken N.V., Nike Inc., British American Tobacco PLC, SABMiller PLC, Henkel AG & Co. Kirin Holding Company ltd, Kimberley-Clark Corporation, Adidas AG, Whirlpool Corporation, Archer Daniels Midland Company.

The two mega mergers in the global consumer goods industry:

  • ABInbev-SABMiller and Kraft Heinz - accounted for US$ 175 billion
  • Brazil’s JBS expanded its operations to Europe with the acquisition of Moypark and Heineken, and purchasing four mid-sized businesses in emerging markets.

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Consumer Goods Published Insights

Coherent Market Insights Lyocell Fabric Market

Published Date : May 2024

Global demand for lyocell fabrics has been on the rise due to their applications in various industries such as textiles, healthcare, hygiene, automotive, and others. Lyocell fabric is a natural fiber made from wood pulp. This regenerated cellulose fiber is usually sol... View more

Coherent Market Insights Global Sleep Tourism Market

Published Date : May 2024

The global sleep tourism market is estimated to be valued at USD 70.13 Bn in 2024, growing at a compound annual growth rate (CAGR) of 7.8% from 2024 to 2031. The global sleep tourism market has witnessed significant growth in recent years. Rising levels of stress and ... View more

Coherent Market Insights Floating Hotels Market

Published Date : May 2024

The floating hotels market is estimated to be valued at USD 4,790.0 Mn in 2024, growing at a compound annual growth rate (CAGR) of 6.3% from 2024 to 2031. Floating hotels are a relatively new concept of accommodation where the entire structure of the hotel is built on... View more

Coherent Market Insights Food Display Cabinet Market

Published Date : May 2024

Global food display cabinet market is estimated to be valued at USD 23.63 Bn in 2024, exhibiting a compound annual growth rate (CAGR) of 8.5% from 2024 to 2031. Global food display cabinet market has been witnessing growth in the recent past years, owing to rising dem... View more

Coherent Market Insights Diaper Bag Market

Published Date : May 2024

The Diaper Bag Market is estimated to be valued at USD 755.8 Mn in 2024 and is expected to exhibit a compound annual growth rate (CAGR) of 2.3% from 2024 to 2031.  The diaper bag market has seen significant growth over the past decade. As more families are opting... View more

Coherent Market Insights Adaptive Clothing Market

Published Date : May 2024

Clothes designed for people with physical disabilities and the elderly, infirm, and post-surgery patients are known as adaptive clothing. Adaptive clothes are generally made with magnetic closures, velcro and other such features to make it easier and comfortable for p... View more

Coherent Market Insights Office Furniture Market

Published Date : May 2024

The office furniture market is estimated to be valued at USD 67.08 Bn in 2024, growing at a compound annual growth rate (CAGR) of 5.8% from 2024 to 2031. Office furniture encompasses various furniture items used in an office environment. It primarily includes seating ... View more

Coherent Market Insights Vegan Fashion Market

Published Date : May 2024

There are no animal based by products or components used in making of vegan products. The main difference between vegan footwear and regular footwear is that vegan shoes are not made with animal extract materials like leather, wool, skin, and others. Vegan products ar... View more

Coherent Market Insights Vegan Cosmetics Market

Published Date : May 2024

The vegan cosmetics market is estimated to be valued at USD 67.27 Bn in 2024, exhibiting a compound annual growth rate (CAGR) of 6.1% from 2024 to 2031. The increasing demand for natural and sustainable products has opened up opportunities for plant-based and vegan co... View more

Coherent Market Insights India Faith Based Tourism Market

Published Date : May 2024

The India faith based tourism market is estimated to be valued at USD 1,180.4 Mn in 2024, exhibiting a compound annual growth rate (CAGR) of 15.1% from 2024 to 2031. India has a diverse culture embedded with religious aspects. With growing religious tourism worldwide,... View more

Coherent Market Insights Urban Tourism Market

Published Date : May 2024

Global urban tourism market is estimated to be valued at USD 6.98 TN in 2024, exhibiting a compound annual growth rate (CAGR) of 6.1% from 2024 to 2031. Global urban tourism market has witnessed significant growth over the past few years. According to recent estimates... View more

Coherent Market Insights Lgbt Tourism Market

Published Date : May 2024

The LGBT tourism market is estimated to be valued at USD 331.14 Bn in 2024, growing at a compound annual growth rate (CAGR) of 7.6% from 2024 to 2031.  The LGBT tourism market has seen tremendous growth over the past decade. Factors such as rising social acceptan... View more

Coherent Market Insights Birth Tourism Market

Published Date : May 2024

Global birth tourism market is estimated to be valued at USD 277.6 Mn in 2024, exhibiting a compound annual growth rate (CAGR) of 6.3% from 2024 to 2031.  Increasing number of pregnant women from various economically developed countries such as the U.S., Canada, ... View more

Coherent Market Insights Boxing Gloves Market

Published Date : May 2024

The Global Boxing Gloves Market is estimated to be valued at USD 1.53 Bn in 2024 and is expected to exhibit a compound annual growth rate (CAGR) of 5.6% from 2024 to 2031.  The global boxing gloves market has been growing significantly over the past few years. Bo... View more

Coherent Market Insights Ethical Tourism Market

Published Date : May 2024

The global ethical tourism market is estimated to be valued at USD 258.54 Bn in 2024, exhibiting a compound annual growth rate (CAGR) of 5.7% from 2024 to 2031. The global ethical tourism market has witnessed significant growth in recent years. Ethical tourism refers ... View more

Coherent Market Insights Shopping Tourism Market

Published Date : May 2024

The global shopping tourism market is estimated to be valued at USD 267.21 Bn in 2024 and is expected to exhibit a compound annual growth rate (CAGR) of 9.3% from 2024 to 2031. The global shopping tourism market has been witnessing steady growth over the past few year... View more

Coherent Market Insights Global Surfing Tourism Market

Published Date : May 2024

The global surfing tourism market is estimated to be valued at USD 10.69 Bn in 2024, growing at a compound annual growth rate (CAGR) of 6.1% from 2024 to 2031. Surfing tourism is a multi-billion dollar global industry that is growing rapidly. As awareness regarding th... View more

Coherent Market Insights Global Rural Tourism Market

Published Date : May 2024

Global rural tourism market is estimated to be valued at USD 109.99 Bn in 2024, exhibiting a compound annual growth rate (CAGR) of 7.1% from 2024 to 2031. Rural tourism refers to tourism activities that take place in rural areas and involve interactions between touris... View more

Coherent Market Insights Propolis Market

Published Date : May 2024

The global propolis market is estimated to be valued at USD 683.5 Mn in 2024, growing at a compound annual growth rate (CAGR) of 2.4% from 2024 to 2031. Propolis is a resinous substance collected by honey bees from tree buds and sap which is used as a sealant for unwa... View more

Coherent Market Insights Vegan Footwear Market

Published Date : May 2024

The global vegan footwear market is estimated to be valued at USD 31.95 Bn in 2024, growing at a compound annual growth rate (CAGR) of 7.6% from 2024 to 2031. The global vegan footwear market has seen steady growth over the past few years owing to rising consumer awar... View more

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