A

PROJECT ON
‘CHANGING TRENDS OF FMCG INDUSTRY
IN INDIA’.

BY
NAME- RAJNI MITTAL
YEAR- 2ND YEAR, BCOM (SEMESTER IV)
ROLL NO- 087/2
SUBJECT- PROJECT (405S)

UNDER THE GUIDANCE OF- MRS. SWAPNAPRIYA SETHY.

ACKNOWLEDGEMENT:-

The satisfaction and euphoria that accompany the successful completion of any task would
be incomplete without mentioning the names of people who made it possible, whose
constant guidance and encouragement crowns all efforts with our success.
I take immense pleasure in thanking our respected principal of J.D. Birla Prof. Dr. Deepali
Singhee and our Dean of Academics Dr. Manodip Ray Chaudhuri for giving us an
opportunity to do this project.
I would like to express my immense gratitude to MRS. SWAPNAPRIYA SETHY for her
constant support and motivation that has encouraged me to come up with this project.
Finally, I take this opportunity to extend my deep appreciation to my family and friends, for
all that they meant to me during the crucial times of the project and the support throughout
my study.
 TO WHOM IT MAY CONCERN

It is hereby certified that the project work comprising the study entitled “CHANGING TRENDS OF FMCG
INDUSTRY IN INDIA” has been carried out by “RAJNI MITTAL” 2nd year student of B.COM (Hons.), in
Department of Commerce, under the supervision and guidance of Mrs. Swapnapriya Sethy, JDBI, and
Assistant Professor of Department of Commerce.

__________________________
Mrs. Swapnapriya Sethy
Assistant Professor
J.D. Birla Institute
Kolkata
EXECUTIVE SUMMARY:-

India is dichotomous with both rural and urban market structure. The urban markets have reached saturation
in market penetration and very high competition between marketers and goods prevail. The urban markets
are today an oasis for the marketers to fetch profits in view of the high awareness and refined tastes of the
consumers as well. In contrast, the rural markets are greener pastures for any marketer in view of the high
growth and untapped potential. Rural market population has higher income and competes with their urban
counter parts today which lead to higher demand.
With a population of over one billion, India is one of the largest economies in the world in terms of
purchasing power and consumer spending. Fast moving consumer goods (FMCG) sector is an important
contributor to the India’s GDP growth. Currently, FMCG industry is the fourth largest sector in the Indian
economy and provides employment to around 3 million people. Over the years, India FMCG sector has been
growing at a healthy pace on account of growing disposable income, booming youth population and
increasing brand consciousness among consumers. The FMCG sector in India has grown at an average of
about 11 percent over the last decade. India’s robust economic growth and rising household incomes are
expected to increase consumer spending to US$ 3.6 trillion by 2020.

As we know, a business starts and ends with the customers, company should focus on the needs and wants
of the consumers and try to provide value added service and products. They should try to differentiate
themselves from their competitors. Differentiating the products in FMCG industry can only be done by
creating the brand value along with the consumers.
In India FMCG Industry is a boom. This industry has been growing day by day it has been established.
Economic condition, political condition and social condition will be affecting less to this sector. The very
reason for this is no matter what happens people will not stop buying the products that are essential to them
in day to day life. Moreover, in the current scenario there is an upliftment in the living standard of people in
India.

Rural consumption has increased, led by a combination of increasing incomes and higher aspiration levels;
there is an increased demand for branded products in rural India. The rural FMCG market in India is
expected to grow at a CAGR of 14.6 per cent, and reach US$ 220 billion by 2025 from US$ 29.4 billion in
2016. E-Commerce and digital connectivity is not limited to the urban localities, with rural population using
these services with high penetration of smart phones, credit cards/ debit cards and online banking services.
There are customers sitting in far and wide corners of India waiting to be serviced. Making their products
available to them is next big challenge before large FMCG companies.
TABLE OF CONTENTS:-

SL.NO TOPIC PAGE NO.

ACKNOWLEDGEMENT

CERTIFICATE

EXECUTIVE SUMMARY

1. INTRODUCTION 1

2. REVIEW OF LITERATURE 3

3. AIMS AND OBJECTIVES 5

4. RESEARCH METHODOLOGY 6

5. RESULTS AND DISCUSSIONS 7

6. SUMMARY AND CONCLUSION 12

7. REFERENCES
INTRODUCTION: -

The Indian Fast Moving Consumer Goods (FMCG) industry began to shape during the last fifty odd years.
The growth of FMCG industry was not significant between 1950’s to the 80’s. The FMCG industry
previously was not attractive due to low purchasing power and the government’s favoring of the small-scale
sector. FMCG’s growth further continued in early 1990s. With relatively lesser capital and technological
requirements, a number of new brands emerged domestically as well, while the relaxed FDI conditions led
to entry of many global players in this segment. These factors made FMCG market in India highly
competitive and one of the important contributor in the Indian economy.

In the current business environment which appears to be difficult and unpredictable, Indian industry has
found a new avenue to pin its hopes on. Few years back, most companies used to focus only on the urban
markets. The products that were launched, the campaigns that were targeted and the advertisements, all
catered to the urban India. However, with different policies and increase in government’s focus on removing
the poverty from rural India, has helped a lot.

Rural markets in any economy, constitute a major part of the overall economy, and soon companies realized
this. Now almost all the major FMCG companies have shifted their focus towards rural markets and have
started catering to the 70% of the population of the country.

The fast-moving consumer good (FMCG) is one of the largest sectors in the country and over the years has
been growing at a very steady pace. The sector consists of consumer non-durable products which broadly
consists personal care, household care, and food& beverages. This sector is also buoyed by intense
competition.

FMCG goods are popularly known as consumer packaged goods. These are products that are sold quickly
and at relatively low cost. These items are meant for daily of frequent consumption and have a high return.
Examples of FMCG products are soft drinks, cigarettes, ketchups, instant noodles and other consumables.
They also include beauty products. FMCG is a classic case of low margin and high volume business.

The FMCG sector has been the cornerstone of the Indian economy. Though the sector has been in existence
for quite a long time, it began to take shape only during the last fifty odd years. This sector touches every
aspect of human life from looks to hygiene to palate.

The Fast Moving Consumer Goods (FMCG) sector is the key contributor of the Indian economy. This fourth
largest sector of Indian economy provides employment to around 3 million people which accounts for
approximately 5% of the total factory employment in the country. These products are daily consumed by
each and every strata of the society irrespective of social class, income group, age group etc. FMCG sector
is more lucrative because of low penetration levels, well established distribution network, low operating
cost, lower per capita consumption, large consumer base and simple manufacturing processes for most of
products resulting in fairly low capital investments. The industry is highly competitive due to presence of
multi-national companies, domestic companies and unorganized sector. A major portion of the market is
captured by unorganized players selling unbranded and unpackaged products. More than 50 per cent of the
total revenues of FMCG companies come from products worth Rs 10 or less .This has made the proliferation
of localized brands which are offered in loose form in small towns and rural part where brand awareness is
low. In last 10 years domestic players are giving tough profit of domestic companies increased by 24%
against 14% increase of multinational companies. Urban India accounts for 66% of total FMCG
consumption, while rural India accounts for the remaining 34%. However, rural India accounts for more
than 40% of the consumption in major FMCG categories such as personal care, fabric care and hot
beverages. As per the analysis by ASSOCHAM, companies like Hindustan Unilever Ltd and Dabur India
generate half of their sales from rural India while Colgate Palmolive India and Marico constitute nearly 37%
respectively. In the mid - nineties, the growth of the sector was very fast where as it declined rapidly at the
end of the decade. The initial growth was due to increase in product penetration and consumption levels4.
Riding on a rapidly growing economy, in-creasing per-capita incomes, and rising trend of urbanization, the
FMCG market in India is expected to further expand to $100 billion by 2025.

IMPACT OF FMCG SECTOR IN INDIA:

Employment
-Direct employment is estimated at approximately 6% of turnover, i.e. US$ 1.5 billion4 (Rs. 7,000 crores)
-Approximately 12-13 million retail stores in India, out of which 9 million are FMCG kirana stores. Thus
the sector is responsible for the livelihood of almost 13 million people
 
Fiscal Contribution
-Cascading Multiple Taxes by the FMCG sector (Import duty, service tax, CST, income tax). 30% revenue
of the sector goes into both direct and indirect taxes. Estimated size of $25 billion (Rs. 120,000 crores), that
would constitute a contribution to the exchequer of approximately US$ 6.5 billion (Rs. 31,000 crores).
 

Social Contribution
-Create employment for people with lower educational qualifications. FMCG firms have also
undertaken some specific projects to integrate with upcountry and rural areas for both inputs and for
distribution as well as to fulfil CSR.
LITERATURE REVIEW:-

Rana J. (2012) studied that, the Indian market is quite attractive and challenging. Although the marketers are
taking effective steps to capture this market. Still there is alarge scope. It has tremendous opportunities. As
far as premium F.M.C.G. brands are concerned, only a few consumers are there form this market. The
companies should decide their target market for premium brands and approach them. Youth can be a great
help in this direction. The marketers have to come up with innovative proposals through which the target
market (for premium brands) should be convinced.

Venukumar G (2012) in his study conclude that, it is certain that F.M.C.G. companies will have to really
gain inroads in the rural markets in order to achieve double digit growth targets in future. There is huge
potential and definitely there is lot of money in rural India. The companies entering rural market must do so,
for strategic reasons and not for tactical gains as rural consumer is still a closed book and it is only through
unwavering commitment that the companies can make a dent in the market. Ultimately the winner would be
the one with the required resources like time and money and also with the much needed innovative ideas to
tap the rural market.

Siras M. (2012) found that in his study that, rural marketing should not give the impression that rural
markets have not been exploited at all. Its purpose is only to highlight the growing importance of rural
markets in the fast changing economic situation. Already, substantial penetration has been made by the
producers of most consumer goods. Though the cost of distribution and promotion is bound to be high and
producers even may sustain losses in the initial stages, this should not discourage them from entering the
market the potentialities of the rural market are great definitely. With the changing economic conditions in
the country, and with better purchasing power, among the rural population, the newly emerging rural
markets are bound to yield rich dividends.

Dey. S(2012)study that, some of the retailers tried to understand and fulfil the requirement of the rural
customers but as such no model is fool proof and hence not living up to the expectations of the customers.
This study is an attempt to understand the needs of the rural India and available options to fulfil the needs.
This has been observed that respondents are widely dispersed on the basis of product categories and the
available retail market options. Most of them are buying personal care, fruits and grocery item from village
and weekly haats. However, products like are clothing, footwear and durables are mostly purchased from
tehsil and district centres. On further exploration, this has been found that most of the respondents agreed
that the products of their choice are not available in the existing retail options. Alternatively they have to go
for available substitutes. This has been observed that factors affecting customers purchase decision varies
with demographic factors. Customers are satisfied with prices and accessibility of the market. But,
comparatively they are not satisfied with Quality and Variety of brands.

Dr. Singh (2012) found that, the issue of rural product generation through industrialization, therefore, needs
to be viewed from a new angle and on far more scientific lines. The core of a scientific approach is to
understand the market opportunities for rural products along with the country's development priorities and to
chalk out a strategy where rural industries have an important role to play. While rural products are forced to
increasingly become part of global supply chains, these products need to adapt themselves, not only
according to the changing tastes of the national market, but also according to changes in tastes in the
international market. Therefore, a process is essential to explore the market linkages and capacity building
for SHGs through a bottom up approach and continuous dialogue with stakeholders of rural enterprise. This
process should ensure the participation of rural people as consumers and producers in the globalization
mechanism, with better livelihoods and global access to markets. The real challenge of building a
sustainable market linkage starts here.

Dr.Dixit. (2012) concluded that, the fact remains that the rural market in India has great potential, which is
just waiting to be tapped. Progress has been made in this area by some, but there seems to be a long way for
MNC marketers to go in order to derive and reap maximum benefits. Moreover, India is expected to emerge
as the fifth largest consumer economy of the world by 2020. Things are sure changing for the better.
AIMS AND OBJECTIVES:-

The objectives of my study are:-

• To show how the FMCG sector has developed through the decades

• To study and identify the opportunities for the FMCG sector in the current rural India.

• To focus on some of the key challenges which the companies faced to develop their stand in this cut
throat competition.
RESEARCH METHODOLOGY

Data source

There are two sources of data collection techniques- Primary and Secondary data collection techniques.

Primary data means original data that has been collected specifically for the purpose in mind from a reliable
source. It includes surveys, experiments or direct observations.

Secondary data is the information which is obtained from a diverse source of documents such as journals,
books, magazines, published electronic sources etc.

Data methodology

The research performed and data collected for the completion of the project is secondary in nature. To
collect the information various journals, websites, annual report, magazines has been reviewed.
RESULTS AND DISCUSSION:-

The research done shows that there is a huge potential for the already growing FMCG sector, and companies
need to form right rural marketing strategies so as to take full benefit of the opportunities in the rural market.
However, there are certain challenges and these will have to be taken care of in the strategy for rural markets
to grow in rural markets.

The FMCG companies are setting up their businesses and expanding rapidly. They also look out for
opportunities to acquire local brands to push start or consolidate their position in these markets.

According to a study by McKinsey Global Institute (MGI), incomes in India are likely to grow 3 times over
the next two decades and India will become the world's fifth largest consumer market by 2025. A distinct
feature of the FMCG industry is the presence of international players through their subsidiaries (HLL, P&G,
Nestle), which ensures innovative product launches in the market from their parent's portfolio. The Rural
FMCG Market of India is on the verge of registering substantial expansion across the country.

There is a huge potential for the already growing FMCG sector and companies need to form right rural
marketing strategies so as to take full benefit of the opportunities in the rural market.

The FMCG industry is expected to witness further accelerated growth rate in the coming decade. Overall,
the FMCG industry is expected to increase at a compound annual growth rate at 14.7%, with a rural FMCG
market expected to increase at 17.7%.

Table: - Graph Showing Trends in FMCG Sector.

So
urce- Industry data, Standard Chartered Research
At present, urban India accounts for 66% of total FMCG consumption, with rural India accounting for the
remaining 34%. However, rural India accounts for more than 40% consumption in major FMCG categories
such as personal care, fabric care, and hot beverages.
-In urban areas, home and personal care category, including skin care, household care and feminine hygiene,
will keep growing at relatively attractive rates. Within the foods segment, it is estimated that processed
foods, bakery, and dairy are long-term growth categories in both rural and urban areas. 

TRENDS-

 Cashless Economy’s Negative Impact on Non-Urban Consumption- So far, with agricultural income
being tax-free and government subsidies now being better targeted, rural India got a lot of disposable
income to spend.
 E-commerce Penetration Aided by GST and Demonetization-With GST now simplifying logistics
and making it difficult for tax evasion, compliant operations in the organized sector such as e-
commerce operators, stand to gain. And the growth of e-commerce platforms shifts power back to
the retailers/customers, as also eventually encourage the growth of store brands like that of Big
basket and Amazon.
 Aggregator Driven Model in Food- Food makes up ~42% of FMCG, and disruptions here often scale
elsewhere. Be it sites like Big Basket, niche sites like snackible.com or pilots of Amazon Grocery,
many are trying to disrupt the traditional FMCG mass focused supply chain with their niche products
and innovative delivery mechanism.
By deepening the relationship with the customers, these intermediaries hope to eventually become
the consumer-facing brand.

 The Death of Traditional Advertising: The success of TVF (the Viral Fever) and new screens/modes
like Netflix, Hotstar, Jio movies, endanger the blockbuster/events driven advertising which has been
the mainstay of FMCG advertising. Even Nestle relaunched its noodles via Snapdeal, a tribute to the
reach of E-commerce.
 While E-commerce advertising is more targeted, imagine serving an ad custom made to you.
It needs to be more impactful and compelling, else the customer would just skip it after the
mandatory 2-3 seconds, something which is not possible on TV.

 Regulatory Framework: As Nestle found out with the recall of Maggi noodles, the Indian regulators
are late to react but when they respond even the mighty MNCs are helpless.
Table:-Graph showing the rural FMCG Market

RURAL FMCG MARKET (US$)

Consumption
Y-axis
(in units)
120

100
100
80

60

40

20 29.4
14.8 18.92
0 9 10.4 12.3 12.1
2009 2010 2011 2012 2013 2015 2017 2025

Yearly trend

Source:-Statistical survey report on internet development in rural areas

Rural consumption has increased, led by a combination of increasing incomes and higher aspiration levels;
there is an increased demand for branded products in rural India. The rural FMCG market in India is
expected to grow at a CAGR of 14.6 per cent, and reach US$ 220 billion by 2025 from US$ 29.4 billion in
2016.

On the other hand, with the share of unorganised market in the FMCG sector falling, the organised sector
growth is expected to rise with increased level of brand consciousness, also augmented by the growth in
modern retail.

Another major factor propelling the demand for food services in India is the growing youth population,
primarily in the country’s urban regions. India has a large base of young consumers who form the majority
of the workforce and, due to time constraints, barely get time for cooking.

Online portals are expected to play a key role for companies trying to enter the hinterlands. The Internet has
contributed in a big way, facilitating a cheaper and more convenient means to increase a company’s reach. It
is estimated that 40 per cent of all FMCG purchases in India will be online by 2020, thereby making it a
US$ 5-6 billion business opportunity. By the year 2025, e-commerce will contribute around 10-15 per cent
sales of few categories in the FMCG sector.

With the presence of 12.2% of the world population in the villages of India, the Indian rural FMCG market
is something no one can overlook.
-Increased focus on farm sector will boost rural incomes, hence providing better growth prospects to the
FMCG companies. Better infrastructure facilities will improve their supply chain.
-The Accenture report goes on to state that rural incomes have been growing at more than 7% over the past
few years, helping to account for almost 40% of India’s total consumption of goods and services.

-FMCG sector is also likely to benefit from growing demand in the market. Because of the low per capita
consumption for almost all the products in the country, FMCG companies have immense possibilities for
growth. And if the companies are able to change the mind-set of the consumers, i.e. if they are able to take
the consumers to branded products and offer new generation products, they would be able to generate higher
growth in the near future. 
-It is expected that the rural income will rise in future, boosting purchasing power in the countryside.
However, the demand in urban areas would be the key growth driver over the long term. Also, increase in
the urban population, along with increase in income levels and the availability of new categories, would help
the urban areas maintain their position in terms of consumption.
-At present, urban India accounts for 66% of total FMCG consumption, with rural India accounting for the
remaining 34%. However, rural India accounts for more than 40% consumption in major FMCG categories
such as personal care, fabric care, and hot beverages.
-In urban areas, home and personal care category, including skin care, household care and feminine hygiene,
will keep growing at relatively attractive rates. Within the foods segment, it is estimated that processed
foods, bakery, and dairy are long-term growth categories in both rural and urban areas. 

In India FMCG Industry is a boom. This industry has been growing day by day it has been established.
Economic condition, political condition and social condition will be affecting less to this sector. The very
reason for this is no matter what happens people will not stop buying the products that are essential to them
in day to day life. Moreover, in the current scenario there is an upliftment in the living standard of people in
India. They are going to middle level category which means there is increase in their purchasing power. This
has contributed to the rise of FMCG companies in India.

SWOT analysis:-

1. Strengths-
 Low operational costs: One of the important strength of this sector is low operational cost.
 Presence of established distribution networks in both urban and rural areas- A well established and
wide distribution network of both MNC and Indian FMCG companies increased an access for
consumers.
 • Presence of well-known FMCG brands: The Presence of strong brands in Indian FMCG sector not
only results in increased sales but also provides an opportunity in future.

2. Weakness-
 Low scope for investing in technologies and achieving economies of scale, especially in small
sectors.

• Less innovative abilities and systems: Indian FMCG sector, especially small players are lagging
behind in adopting innovative approaches for fulfilling needs of the consumers.

3. Opportunities -

• Untapped rural market, changing life style: An untapped, huge and fragmented rural market is an
opportunity for FMCG players. The Penetration level for many FMCG product categories is very low
especially in rural area.

• Rising income levels, i.e. increase in purchasing power of consumers: According Mckinesy Global
Institute report, in next two decades income level of Indian consumer will almost triple and India will
become world’s fifth – largest consumer market by 202510.India’s middle class size will increase to 583
million , or 41% of the population. Extreme rural poverty has declined from 94% in 1985 to 61% in 2005
and is projected to drop to 26% by 2025. This will result into increased purchasing power of Indian
consumer.

•Large domestic market with more population of median age 25 years: India has large young population,
54 % of Indians are under 25 years of age. A rising productive population fuels growth and drives personal
consumption.

•High consumer goods spending: The rising income is resulting into high spending into consumer goods.
According to a Nielsen report, the spending on consumer goods set to triple to $ 5 billion by 2015.

4. Threats-

• Entry of MNCs with liberalization: In the post liberalization era Indian market has become highly
competitive. Many multinational companies have entered in to the Indian market.
• The removal of import restrictions resulted in replacement of domestic brands.
• Rural demand is cyclical in nature and also depends upon monsoon to large extent.
• Complicated, changing and uneven tax structure is one of the major threats for FMCG sector.
• New packaging norms made mandatory for all companies to sell products in standard size packs
CONCLUSION-

Today, Fast Moving consumers’ goods have become an integral part of human life. This sector is recession
proof and created huge employment opportunity in India, hence becoming one of the key pillar of the Indian
economy. FMCG companies should encash opportunities like increasing consumer income, changing
consumer life style, aspiring rural consumer, consistent economic growth by utilizing its strengths. The
competition from unorganized sector can be overcome by increasing brand awareness and by reducing cost
through sharing resources such as distribution network. Favourable developments happening in demand
side, supply side and systematic drivers shows that this sector has very bright future.

Indian FMCG market is expected to exhibit a positive growth trend in the coming years. The new phase of
rural consumption appears to provide a great opportunity for the FMCG sectors. Marketers will need to
evolve new strategies to connect and communicate with a more aware and unreserved consumer than ever
before, the study found. With this, product and brand development cycles will need to undergo a dramatic
change. The demand or prospect could be increased further if these companies can change the consumer's
mindset and offer new generation products. Thus we can safely suggest that the future drivers of growth are
the rural markets for the FMCG sector. FMCG product touches every aspects of human life. These products
are frequently consumed by all sections of the society and a considerable portion of their income is spent on
these goods. Apart from this, the sector is one of the important contributors of the Indian economy. This
sector has shown an extraordinary growth over past few years, in fact it has registered growth during
recession period also. The future for FMCG sector is very promising due to its inherent capacity and
favourable changes in the environment. The FMCG companies are setting up their businesses and expanding
rapidly. They also look out for opportunities to acquire local brands to push start or consolidate their
position in these markets.

Thus looking at the challenges and the opportunities which rural markets offer to the marketers it can be said
that the future is very promising for those who can understand the dynamics of rural markets and exploit
them to their best advantage.
REFERENCES:-

1. Dr. Singh S., (2012), making a dent in to rural market ( a case study of Hindustan Unilever
Limited), Integral Review-A Journal of Management, ISSN: 2278-6120, Volume 5, No. 1,
June-2012, pp 36-41.

2. Siras M. (2012). Rural Marketing-Potential and Strategies for Durables, A Study in Ghaziabad District.
International Journal of Trade and Commerce, Volume1, No1, January-June.

3. Venukumar G. (2012). Growth of Indian Rural Market: With reference to FMCG Sector, SAJMMR,
Volume 2, Issue 2, and February 1-10.

4. Dr. Dixit (2012), Rural marketing in India- the real big challenge, International Journal of Social
Science & Interdisciplinary Research Vol 1. Issue 7

5. Rana J. (2012), Global Journal of Management and Business Research, U.S.A Volume 11 Issue 5,
ISSN: 0975-5853

6. Dey. S (2012), Retailing In Rural India: An Overview Of Markets And Opportunities, South Asian
Journal Of Marketing & Management Research, Volume 2, Issue 4

BOOKS:-

1. Bowersox, Donald J., CLOSS, “LOGISTICAL MANAGEMENT” Tata McGraw, New Delhi.
2. Nitin Mehrotra (2005), “INDIAN FMCG INDUSTRY”, ICFAI Books, The ICFAI University Press,
First edition.

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