Factors Driving the Growth of the FMCG Industry in India
The FMCG industry in 2023 was worth US$ 230.14 billion, and it is expected to reach US$ 1288.52 billion by 2030, at a compound annual rate (CAGR) of 27.9%. Increasing brand awareness among people, changing lifestyle and growing population are some contributing factors to the growth of India's FMCG industry. FMCG businesses sell products with less shelf life, including toothpaste, creams, soaps and more. There are several FMCG businesses in India. However, the competition is also high among several FMCG companies. To bring growth, FMCG businesses need to go with a better strategic approach compared to their competitors. If you as a FMCG business owner want to learn more about the tactics which help drive growth, read this blog till the end. Tactics That Drive the Growth of the FMCG Industry in India Online Shopping The trend of online shopping is increasing among several businesses, especially in the FMCG industry. It’s worth highlighting that the wave of online shopping has