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Latest Market Changes in The FMCG

Industry, with Respects to Spices & Herbs

By Kriti Soni *

IntRODuCtIOn
The fast-moving consumer goods in health, domestic and personal care, spices that will provide development
the (FMCG) sector is India’s fourth- etc. In the current scenario, more opportunities and strategies adopted
largest sector with household and than 30,000 proprietary and 1500 by the multi-billion-dollar market.
personal care accounting for 50% classical products are available in
of FMCG sales. Growing awareness, the market. The market of Ayurvedic tRAnSFORMAtIOn In InDIAn
more comfortable access, and FMCG products is estimated to FMCG SECtOR
dynamic lifestyles have been the record a combined annual growth The value of the Indian cosmetics
key growth operators for this sector. rate (CAGR) of 16% between 2016 and and skin care market is $274
The urban segment (accounts for a 2021 and will grow from the current million, and it is owned by many
revenue share of around 55%) is the $ 500 million to $ 1.1 billion by 2021. Ayurvedic FMCG companies.
largest contributor to the overall Although many FMCG products Changing awareness, easy access,
revenue generated by the FMCG advertise the estimated results, the and changing lifestyle are important
sector in India. However, the last few Ayurvedic FMCG industry is largely development accelerators for the
years, FMCG market has grown at a irregular. segment. Growth for the expenditure
faster pace in rural India compared of consumers, increase in rural
to urban India. Semi-urban and rural The shift toward natural products demand and advancement of
segments are growing at a rapid has gathered momentum. Also, premium products are significant
pace and FMCG products account for companies of all sizes are racing to for the growth in the number
50% of the total rural spending. match the pace. This article reviews of Ayurvedic FMCG categories.
a snapshot of current trends in the According to Tech Sci Research, the
Ayurvedic FMCG industry is based FMCG market concerning herbs and market of Indian Ayurvedic FMCG
on the augmentation and marketing products is estimated to record a
of products between food drinks, CAGR of 16% between 2016 and 2021.
It will increase from the current $500
million to $1.1 billion by 2021. People
are deeply embracing Ayurvedic
products, which has increased in the
FMCG segment. Examples of legacy

Food Marketing & Technology 43 December 2020