FMCG Products: Kantar, a global research firm, predicts a further decline in demand for daily groceries, essentials, and household products in India over the next few quarters. This projection extends the timeline for volume recovery in the fast-moving consumer goods (FMCG) industry, which experienced a slowdown in the December quarter. In the same quarter, overall volumes expanded by 5.2%, down from 6.9% in the previous quarter, with rural markets growing by 4.8% and urban areas by 5.6%.
Kantar, a global research firm, predicts a further decline in demand for daily groceries, essentials, and household products in India over the next few quarters. This projection extends the timeline for volume recovery in the fast-moving consumer goods (FMCG) industry, which experienced a slowdown in the December quarter. In the same quarter, overall volumes expanded by 5.2%, down from 6.9% in the previous quarter, with rural markets growing by 4.8% and urban areas by 5.6%.
The Indian Institute of Science (IISc) has selected five exceptional scientists and engineers for its Distinguished Alumni Awards in 2023. The recipients include DN Prahlad, KK Ramakrishnan, Mrinalini Chatta Rao, S Somanath, and Dheepa Srinivasan. These individuals will receive the awards during a ceremony scheduled for December 2023.
Essential Items: Sales of daily groceries and essentials increased 8.5% YoY between April and June; the highest increase in a decade. FMCG sales was up 5.3% in rural markets and 12% in cities from a year earlier. However, consumption in villages only grew by 2%. Analysts believe the high increase in sales was largely due to the government offering free food grains, notably atta, which saw a growth of 8.5% during the quarter.
In-home penetration of cold beverages, which includes soft drinks, squashes, powdered mixes, and packaged juices, has grown by 47% in May 2023 compared to 38% in 2019. The marketing data and analytics company Kantar reported that this growth rate is significantly better than any 12-month period before the pandemic.