Team Blitz India
NEW DELHI: India’s fast-moving consumer goods (FMCG) industry witnessed robust growth in the July-September quarter (Q2FY24) as rural markets continued to recover amid easing inflation, the data by NIQ, formerly NielsenIQ, showed on November 7.
The FMCG industry clocked a 9 per cent year-on-year (Y-o-Y) growth in terms of value in Q2FY24, while sales volumes rose 8.6 per cent in this period, indicating positive consumption patterns at all-India level. Volumes in rural markets grew 6.4 per cent Y-o-Y in the quarter, the research firm said. Within FMCG, both food and non-food categories grew at 8.7 per cent Y-o-Y in Q2FY24.
Rural markets are showing “signs of recovery”, with consumption picking up during the September quarter compared to the year-ago period.
Urban markets, on the other hand, are maintaining “a stable rate of consumption growth”, NIQ noted in its report.
“The FMCG industry has witnessed a further reduction in price growth from last quarter, which has given a necessary impetus to the spending power of the consumer. This is evident in rural markets, where there is an uptick in consumption across categories,” Satish Pillai, managing director, NIQ India, said.
