Global FMCG market size to gain a steady growth of USD15M by 2028
By Felicia Nwosu
Following the latest research report released by Market Statistics Industry Insights, the global Fast-Moving Consumer Goods (FMCGs) market size poses a viable growth prospect. It is estimated to gain a steady growth of USD15 million by 2028, with an expectation to expand at a market’s CAGR status of 5.03% during the forecast period.
Offering a comprehensive and detailed analysis of the industry, the research report revealed that FMCG market size was valued at USD 11 million in 2022.
Explaining the historical and forecast size of FMCG and its market revenue, the projection took into account the market size, its segment size, also provided areas covering product type, application, and geography, competitor landscape, development trends, and detailed cost analysis around its supply chain.
The market statistics site, while providing valuable insights into the sector’s performance over time, underscored some of the various segments and types found under the FMCGs and these include the industry segmentation based on types such as Food & Beverage, Personal Care, Health Care, Home Care and many others. It mentioned that these available types in the Market are based on categorization and are at the same time tussling for market share in 2023.
According to Market Statistics Industry Insights, some of the key drivers influencing FMCGs’ market growth are factors such as technological innovation and advancement which, it noted, will further optimize the performance of the product making it more widely used in downstream applications. Taking a look at consumer behaviour analysis and market dynamics, it added that the ever-increasing change in consumer behaviour also contributed immensely to its growth.
It pointed out several other factors driving the growth of the FMCG, which have boosted the growing demand around the world with a direct impact on the growth of the market globally.
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