FMCG growth loses steam amid headwinds

Consumer reach points (CRPs) of FMCG brands—a measure of consumer activity—grew by a slower 4 per cent to 120 billion in 2024, reflecting both the broader slowdown in consumption and sector-specific trends.

CRPs track actual purchases made by consumers and the frequency of these purchases within a calendar year. In 2023, CRPs had grown at a higher rate of 7 per cent. The deceleration was largely driven by a slowdown in the foods and beverages sector, the data from Worldpanel by Numerator said. Smaller brands recorded higher CRP growth in 2024, while growth rates among larger brands slowed, the report said. Commenting on the report, K Ramakrishnan, Managing Director- South Asia, Worldpanel by Numerator said, “Consumer choice remains the most reliable test of a brand’s strength, and Brand Footprint has consistently captured this reality for over a decade.

India continues to stand out as a growth-positive market compared to global trends, with much of the momentum coming from smaller and emerging players. This year’s findings reaffirm that growth comes from expanding the shopper base, whether it’s through innovation, new formats or deeper rural reach.

While larger brands are experiencing a slowdown, the market remains vibrant with regional and challenger brands steadily gaining ground.”

Biscuits and confectionery major Parle topped the list 13th year in succession, with 8,605 million CRPs. It was followed by Britannia (8,241m), Amul (6,517m), Clinic Plus (3,977m) and Surf Excel (3,438m). Surf Excel entered the Top five for the first time, steadily moving up- from 8th in 2023, to 6th in 2024.Further, another homegrown major, Haldiram broke into the Top 10 for the first time, rising steadily from 19th in 2023 to 11th in 2024, and this year 10th. Overall, the report covers brands within FMCG under categories of Foods, Home Care, Health & Beauty, Beverages, Snacking and Dairy measuring 414 brands.