FMCG sees the best quarter in the last 2 years: Report
Personal care saw a growth of 11.1 percent, household care logged 4.6 percent growth
Economy has started taking pace in India with the Fast Moving consumer goods (FMCG) industry registering a growth of 4.3 percent in volume and 8.5 percent in value in April-June 2020. The household consumption of the FMCG products is the highest in the last two years, said a Financial Express report quoting a survey by insights and consulting company Kantar.
The personal care segment witnessed a growth of 11.1 percent, while household care, which consists of products like detergents and surface cleaners, logged 4.6 percent growth, the report added.
“…All sectors out-performed the 2019 performance. Within foods and beverages, foods have grown by a strong 5.7 percent but beverages have dropped by 19 percent, causing F&B to grow slower than the other sectors,” said a PTI report published in Financial Express.
The report quoted Kantar Managing Director- South Asia, Worldpanel Division, K Ramakrishnan as saying that while out of home consumption may have seen a sharp drop, the household consumption has seen positive growth.
The FMCG industry reported an 8.5 percent growth in value terms in the April-June quarter compared to 6.4 percent in the corresponding period of 2019. In value terms, personal care reported 10.7 percent growth and household care saw 12.1 percent growth, said the report.
The report further said that several FMCG companies have reported higher sales in the rural and semi-urban areas.