Scope of good startups in the FMCG market
What is the FMCG market?
Firstly, Fast-moving consumer goods or commodities are FMCG, also called consumer packaged goods.
Secondly, it refers to the products that are in demand, sales take place quickly, and affordable.
Classification:-
Further, we can see the classification of the FMCG industry:-
Food & Beverage Products- Health beverages, cereals, bakery products, snacks, chocolates, ice cream, tea, processed fruits and vegetables, dairy products, etc.
Personal Care Products- Oral care, hair care, skin care, cosmetics/deodorants, perfumes, personal hygiene products, etc.
Household Consumables- Fabric wash, household cleaners, detergents, etc.
Tobacco products
Global overview:-
Firstly, According to a report, the FMCG business is in a position to grow by $309.5 billion by 2026.
History of the FMCG market
Firstly, Prakash Tandon laid the foundation of this company’s culture in 1961. Ashok Ganguly and SM Das also contributed to it.
Secondly, a new era of branded fast-moving consumer goods marketing began (FMCG). Also as they say, the rest is history.
Startups based on the FMCG
Further,these up-and-coming businesses have the potential to change the FMCG market.
Listed below are some of the promising startups:-
1.salesBeat- UK- based startup created the Sales intelligence software to beat the forecast demand for FMCG goods.
2.Shoplinks- A Singapore-based firm called Shoplinks offers an AI-based platform for shared business planning between FMCG brands and retailers.
3.Attico.io- An open-source CMS from the Belarusian company Attico.io allows FMCG companies to efficiently manage numerous websites.
4.Amplepac- Amplepac is a young Indian company that develops and produces FMCG packaging containers made of sustainable metal by taking advantage of its blockchain-based system
5.NOICE- An American startup produced the zero-waste toothpaste, NOICE using natural components including charcoal, essential oils, and other active substances.
Recent Trends
1. Foreign Direct Investment-
To achieve their current level, foreign investments in this industry have gradually increased. About 3% of the country’s overall FDI goes to the FMCG sector. Between April 2000 and May 2015, FDI inflows. Between April 2000 and May 2015, cumulative FDI inflows into India’s food processing industry totaled USD 6,660 million, or 2.49% of all FDI inflows. Meanwhile, FDI inflows into the soaps, cosmetics, and toiletries industry totaled USD 1,150 million, or 0.42%.
2. Economic progress-
Since a pick-up in economic growth results in stronger spending, which in turn allows consumer goods businesses to perform better. The economic performance depends on the FMCG sector growth. The economy is growing. India’s gross domestic product (GDP) increased by 6.9% in FY 2014 compared to 5.1% in FY 2013.
