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The FMCG sector is one of the largest and most important sectors in the Indian economy. It accounts for over 15% of the country’s GDP and employs over 100 million people. The sector is also a major contributor to exports, with confectionery brands being one of the leading export sectors.
The FMCG sector has been growing steadily in recent years, and this trend is expected to continue in the coming years. This growth is being driven by several factors, including rising incomes, urbanization, and changing consumer preferences. Confectionery brands are playing a major role in the growth of the FMCG sector. They are doing this by innovating and launching new products, expanding into new markets, and investing in marketing and advertising. Some of the key trends in the confectionary market include:
• The growing popularity of healthy and natural snacks.
• The Growth of Rural Retail.
• The increasing demand for personalized and customized products.
• The growing popularity of online and social media shopping. Advantages of Rural Markets in the Growth of FMCG Markets:
• Large and growing population: The rural population in India is large and growing. This provides a large potential market for FMCG brands.
• Increasing purchasing power: The purchasing power of rural consumers is increasing. This is due to factors such as rising incomes and government initiatives such as the Pradhan Mantri Jan Dhan Yojana (PMJDY).
• Changing consumption patterns: Rural consumers are increasingly adopting modern consumption patterns. This is due to factors such as exposure to mass media and migration to urban areas.
• Government support: The government is providing support to the FMCG sector in rural areas. This is through initiatives such as the Pradhan Mantri Gramin Awaas Yojana (PMGKAY) and the Pradhan Mantri Kaushal Vikas Yojana (PMKVY).
These advantages make rural markets an attractive proposition for FMCG brands and Confectionery brands that can adapt to these trends and cater to the changing needs of consumers will be well-positioned to succeed in the years to come.
Suuvidham has recently tie-up with Rajasthan-based Biscuit Brand to explore bigger opportunities in Uttar Pradesh. We at Suuvidham are putting constant efforts to match the pace of the FMCG market which is growing steadily.
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#biscuits #business #suuvidham Tejas Chheda