Description
Topic: FMCG Logistics Navigating the future of Global Logistics
Cargo Talk in collaboration with Triton Maritime and Logistics Pvt Ltd is all set to release its first TriNext podcast on FMCG Logistics - Navigating the Future of global Logistics.
Speaker - Anil Mishra, National Logisics Head at Pladis Global
Moderator- Jitendra Srivastava, CEO, Triton Logistics & Maritime
Industry Overview
- The FMCG industry is primarily responsible for producing, distributing, and marketing fast-moving consumer goods.
- It is the fourth largest sector in the Indian economy.
- The global FMCG market was valued at USD 107.46 billion in 2022 and is projected to grow to USD 148.51 billion by 2031, at a CAGR of 3.66% from 2024-2031.
- In India, the FMCG sector expanded due to consumer-driven growth and higher product prices, reaching US$ 121.8 billion in 2023. The market is expected to grow at a CAGR of 27.9% from 2021-27, reaching nearly US$ 615.87 billion.
- The FMCG sector employs around 3 million people, accounting for approximately 5% of total factory employment in India.
- FMCG sales in India were expected to grow by 7-9% in revenue for 2022-23.
- Growth drivers include favourable government initiatives and policies, a growing rural market and youth population, new branded products, and the rise of e-commerce platforms.
- The number of active internet users in India is expected to increase to 900 million by 2025 from 622 million in 2020. E-commerce now accounts for 17% of overall FMCG consumption among affluent buyers, who spend about Rs. 5,620 (US$ 68) on average.
- FMCG companies are adopting AI across the entire value chain, from sourcing raw materials to product development, manufacturing, operations, sales, pricing, and distribution.
