Team Blitz India
NEW DELHI: The Indian fast moving consumer goods (FMCG) fast-moving consumer goods) industry has experienced a significant upswing, registering a remarkable 6.6 percent growth in value, predominantly propelled by a 6.5 per cent surge in volume nationwide, as per the latest NielsenIQ (NIQ) FMCG Quarterly Snapshot for Q1 2024 report.
This quarter’s volume expansion has notably surpassed the 3.1 per cent growth recorded during the first three months of the calendar year 2023, reflecting a robust momentum in consumption patterns, the report highlights.
Rural consumption has emerged as a pivotal driving force, consistently outpacing urban growth in Q1 2024. Conversely, urban areas have witnessed a decline in consumer demand, experiencing a 5.7 per cent drop in the quarter under review.
According to the report, the retail sector exhibited distinct dynamics, with the Modern Trade segment showcasing robust double-digit volume growth at 14.7 per cent. Concurrently, Traditional Trade maintained steady growth, with volumes witnessing a 5.6 percent increase in Q1 2024 compared to the preceding quarter (Q4 2023).
