Resilient FMCG growth in India, rural continues to outpace Urban: NIQ
City Air News
Aug 9, 2024 07:03
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Hyderabad/Mumbai, August 9, 2024: NielsenIQ (NIQ), the world's leading consumer intelligence company, released the FMCG Quarterly Snapshot for Q2’24 (AMJ’24) today. According to the report, the Indian FMCG (fast-moving consumer goods) industry has experienced a 4.0% growth in value, reflecting the industry's resilience despite a slight moderation in volume growth to 3.8%. Price growth stabilized at a modest 0.2% in Q2’24, underscoring a stable market environment.
Roosevelt Dsouza, Head of Customer Success – India at NIQ, stated, “The Indian FMCG industry growth has been steady, reflecting its resilience and adaptability. The sector experienced a 4.0% value growth in Q2 2024, attributed to relaxed consumption patterns. This deceleration in volumes is largely due to macroeconomic headwinds. While rural volume growth at +5.2% continues to outpace the 2.8% growth in urban areas, both regions experienced softer consumption this quarter.”
