FMCG(Fast-Moving Consumer Goods) Market to Grow by 5.4% CAGR during 2020-2025, As Demand for Medicines, Essentials, and Cleaning Products Skyrockets

𝐍𝐞𝐰 𝐘𝐨𝐫𝐤, 𝐔𝐒𝐀, 𝐉𝐚𝐧𝐮𝐚𝐫𝐲 𝟐𝟕, 𝟐𝟎𝟐𝟏 – The rising demand for essentials, medicines, and cleaning products will propel growth in the FMCG market, aiding it to reach $15,256 billion by 2025, rising at 5.4% during 2020-2025. The rising prevalence of covid-19 among developed countries like the US has led to tremendous demand for medicines, essentials, and cleaning products. In cities like Los Angeles, the coronavirus pandemic has gripped more than one-third of the population, reaching upwards of 3 million cases in a single city. The high-load of cases has necessitated demand for painkillers, cold relievers, and other over-the-counter medication. Moreover, the high-demand for disinfectants for homes, offices, and industrial complex on a regular basis has also provided a major boost for cleaning products in the US.

According to 2020 figures released by Procter & Gamble, the demand for its home care products has risen by 30%. Other major players in the industry like Makers of Tide, and Aerial detergent has witnessed with organic sales increasing by nearly 10%. Moreover, companies like Pfizer Inc, GlaxoSmithKline Plc, and Sanofi SA, are expected to raise drug prices of over 300 drugs in the US, likely aiding profitability of medicinal products in the FMCG market. The increase in drug prices push is likely to fight-off legislations in the US guiding drug price control legislation introduced during the Trump administration.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲: https://www.crediblemarkets.com/sample-request/fmcg-fast-moving-consumer-goods-market-598316?utm_source=Pramod&utm_medium=OpenPR

𝐃𝐞𝐦𝐚𝐧𝐝 𝐟𝐨𝐫 𝐃𝐚𝐢𝐫𝐲 𝐏𝐫𝐨𝐝𝐮𝐜𝐭𝐬 𝐥𝐢𝐤𝐞 𝐂𝐡𝐞𝐞𝐬𝐞 𝐖𝐢𝐥𝐥 𝐎𝐟𝐟𝐞𝐫 𝐍𝐞𝐰 𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬 𝐟𝐨𝐫 𝐆𝐫𝐨𝐰𝐭𝐡
According to the International Dairy Foods Association, the demand for butter, cheese, and yogurt has hit record heights in 2020, thanks to record level of per capital consumption of dairy foods. Moreover, the demand has remained incremental since 1970s for dairy products, continuing growth for five straight decades. It is estimated that the demand for dairy products has risen by 21% since 1975. According to the association, the demand from Americans for nutritious, versatile, and innovative products remains high. Moreover, per capital consumption of food products like cheese has risen by 19% in the past decade, yogurt by 7%, and butter by 24%. The international trade dairy foods association also forecasts that the demand for products like ice-cream has rebounded, thanks to easing up of the economy amidst a positive forecast due the vaccination programs. According to the president of the association, American consumers are also changing their dietary habits, leading to a growing demand for dairy as consumers increasingly eat more dairy products as opposed to drinking them as per convention. The growing demand for dairy, the low-cost availability of dairy products, and increasing awareness about health due to the pandemic will drive major growth for the fast-moving consumer goods market.

𝐑𝐞𝐚𝐝𝐲-𝐭𝐨-𝐄𝐚𝐭 𝐌𝐞𝐚𝐥𝐬 𝐏𝐫𝐨𝐦𝐢𝐬𝐞 𝐚 𝐌𝐚𝐣𝐨𝐫 𝐁𝐨𝐨𝐬𝐭 𝐟𝐨𝐫 𝐭𝐡𝐞 𝐅𝐌𝐂𝐆 𝐌𝐚𝐫𝐤𝐞𝐭
According to the Food Industry Association (FMI), American consumers are spending increasingly on ready-to-eat meals, takeaways, leading record growth in the industry. FMI estimates that Americans are spending 54% of their food dollars into eating food away from home. Moreover, despite 8 in 10 dinners eaten at home, people continue to order home, with proportion of home-prepared meals for evenings continues to fall. FMI numbers suggest that on average, 4.5 dinners are prepared at home, per week, declining from 4.9 in 2017. Moreover, only 28% households prepare six or more nights in making home-meals. On the other hand, 28% prepare meals three nights per week. Rise of food delivery companies, growth in retail trends for ready-to-eat meals, and addition of new products like seafoods, will drive major growth for the FMCG market in near future.

𝐃𝐞𝐦𝐚𝐧𝐝 𝐟𝐨𝐫 𝐂𝐨𝐬𝐦𝐞𝐭𝐢𝐜𝐬 𝐭𝐨 𝐑𝐞𝐦𝐚𝐢𝐧 𝐇𝐢𝐠𝐡 𝐚𝐬 𝐄𝐦𝐞𝐫𝐠𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭𝐬 𝐃𝐫𝐢𝐯𝐞 𝐏𝐫𝐨𝐦𝐢𝐬𝐢𝐧𝐠 𝐏𝐫𝐨𝐬𝐩𝐞𝐜𝐭
Demand for cosmetics industry will likely drive major growth for the FMCG market in near future. The rising urbanization and rise of skin-related illnesses, and growing demand for protection from UV-layers will drive tremendous growth for the market in near future. Moreover, the market is also witnessing growth in disposable incomes in Asia Pacific, Middle East, and South America. This will likely drive demand for natural-based herbal products, high-end western cosmetics, among others. The rising entry of women in the workforce will also be a major driver of growth in the FMCG market. The market also continues to witness shifting consumer behaviour, as easy-to-open packaging, and easy-to-remove makeups for working women continue to remain popular.

𝐓𝐡𝐞 𝐃𝐞𝐦𝐚𝐧𝐝 𝐟𝐨𝐫 𝐎𝐟𝐟𝐢𝐜𝐞 𝐒𝐮𝐩𝐩𝐥𝐢𝐞𝐬 𝐑𝐞𝐦𝐚𝐢𝐧𝐬 𝐚 𝐂𝐡𝐚𝐥𝐥𝐞𝐧𝐠𝐞 𝐀𝐦𝐢𝐝𝐬𝐭 𝐆𝐫𝐨𝐰𝐢𝐧𝐠 𝐃𝐢𝐠𝐢𝐭𝐚𝐥𝐢𝐳𝐚𝐭𝐢𝐨𝐧
Rising digitalization has remained a major challenge for growth for niche products like office supplies. The key goods in this arena including markers, pens, and pencils continue to witness downfall in demand, as rising virtualization in offices, schools, colleges, and industries continue to lessen dependence on traditional documents. However, despite falling demand in the sector, new products like tablet-based pens, virtual conference screens, and smartphone-based pens continue to create new opportunities. Apart from rising digitalization, and lockdowns among educational institutes, the demand for conventional stationery continues to face major challenges. However, the overall demand in the global market will likely remain stable, as emerging nations in Asia Pacific continue to bolster supply of traditional stationery, thanks to growing industries like media, and print. Moreover, the rising demand for publishing in emerging nation will also drive major growth for the FMCG market in Asia Pacific region.

𝐃𝐢𝐫𝐞𝐜𝐭 𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞: https://www.crediblemarkets.com/reports/purchase/fmcg-fast-moving-consumer-goods-market-598316?utf8=%E2%9C%93&license_type=single_user&utm_source=Pramod&utm_medium=OpenPR

𝐃𝐞𝐦𝐚𝐧𝐝 𝐟𝐨𝐫 𝐁𝐚𝐤𝐞𝐝 𝐆𝐨𝐨𝐝𝐬 𝐏𝐫𝐨𝐦𝐢𝐬𝐞 𝐍𝐞𝐰 𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬 𝐟𝐨𝐫 𝐆𝐫𝐨𝐰𝐭𝐡
The demand for baked goods globally amounted to $296.4 billion in 2013. This figure witnessed a major increase in 2017, rising to $352.8 billion. Moreover, demand in key markets like the US remains robust, and countries like China continue to play an ever-increasing role in the global market for baked goods. In 2013, the US baked goods market was valued at $54.6, and rose to a $58.6 billion in 2017. The growing demand for naturally baked ingredients, growing demand for confectionary products, and rising use of dairy remain strong drivers of growth in the US baked goods market. Moreover, high-quality products, like Canadian goods witnessed an even higher demand in the US. For example, Canada’s baked good exports to the US rose at an 10.7% CAGR between 2013-2017, amounting to over $2.4 billion in 2017. The growing demand for baked goods in the US, and high-quality premium baked goods remain a major impetus for growth in the Fast-Moving Consumer Goods (FMCG) Market.

𝐓𝐡𝐞 𝐅𝐌𝐂𝐆 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐩𝐨𝐫𝐭 𝐢𝐬 𝐬𝐞𝐠𝐦𝐞𝐧𝐭𝐞𝐝 𝐚𝐬 𝐛𝐞𝐥𝐨𝐰.
𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧 𝐛𝐲 𝐏𝐫𝐨𝐝𝐮𝐜𝐭 𝐓𝐲𝐩𝐞:
• Food & Beverage
• Health Care
• Personal Care
• Home Care

𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧 𝐛𝐲 𝐃𝐢𝐬𝐭𝐫𝐢𝐛𝐮𝐭𝐢𝐨𝐧 𝐂𝐡𝐚𝐧𝐧𝐞𝐥:
• Grocery Stores
• Supermarkets & Hypermarkets
• E-commerce
• Specialty Stores

𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧 𝐛𝐲 𝐑𝐞𝐠𝐢𝐨𝐧:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

𝐑𝐞𝐚𝐝 𝐌𝐨𝐫𝐞:https://www.crediblemarkets.com/market-analysis/fmcg-fast-moving-consumer-goods-market-598316?utm_source=Pramod&utm_medium=OpenPR

𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐔𝐬
Credible Markets Analytics
99 Wall Street 2124 New York, NY 10005
Contact No: +1(929)-450-2887 / +1 (650)-666-4592
Email: sales@crediblemarkets.com

𝐀𝐛𝐨𝐮𝐭 𝐔𝐒
Credible Markets has emerged as a dependable source for the market research needs of businesses within a quick time span. We have collaborated with leading publishers of market intelligence and the coverage of our reports reserve spans all the key industry verticals and thousands of micro markets. The massive repository allows our clients to pick from recently published reports from a range of publishers that also provide extensive regional and country-wise analysis. Moreover, pre-booked research reports are among our top offerings.

This release was published on openPR.