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DBMR FMCG Market Access Report

Fast Moving Consumer Goods or FMCG is a steady growing industry over the past years. The industry is experiencing many changes and reinventing the way they operate because it is a source of talent for other companies or sectors.


FMCG
Apparel, Footwear and Accessories

Boom in housing sector on a global level coupled with the rising spending towards home furnishing is expected to remain one of the key driving factor. Furthermore, the revolution of work-from-home as a result of imposition of lockdowns in countries amid COVID-19 outbreak has played a key role in increasing expenditure towards home bedding, furniture, pillows, and cookware products.

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Electronics and Electrical Equipment

The incorporation of smart features in consumer electronic goods as a result of technological advancement related to the improved internet connectivity on a global level is expected to have a positive impact of electronics and electrical equipment. Moreover, new product launches in wearable segment including Bluetooth speakers, wireless microphones/headphones and smart watches is expected to open new market avenues over the next few years

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Top Trends for FMCG for 2024

Smart home-based technology has revolutionized modern living by seamlessly integrating various devices and systems for enhanced convenience and efficiency. From intelligent thermostats and lighting systems to connected security cameras and voice-activated assistants, smart home technology offers a range of features to simplify daily tasks. With the ability to control and monitor devices remotely through smartphones or voice commands, users can optimize energy usage, improve home security, and create personalized environments. The growing ecosystem of smart home devices continue to evolve, promising a more connected and automated living experience for users seeking comfort, energy savings, and increased control over their home environments.

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The global construction industry is witnessing a surge in the consumption of modular construction, driven by its efficiency and sustainability. Modular construction involves assembling pre-manufactured components off-site, resulting in faster project completion, cost savings, and reduced environmental impact. This approach appeals to developers seeking streamlined processes and shorter timelines. With its versatility and adaptability, modular construction is increasingly recognized as a solution to meet the demands of diverse construction projects, fostering a paradigm shift in the industry.

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The consumer shift towards natural and organic ingredients reflects a positive outlook on health and sustainability. In skincare and cleaning products, there's a growing preference for natural and organic ingredients. Consumers are increasingly conscious of the benefits these ingredients offer, such as fewer synthetic chemicals and potential environmental advantages. This trend aligns with a broader awareness of personal well-being and environmental responsibility, driving a positive market shift towards products with natural and organic compositions.

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Customers are becoming more receptive to men's beauty goods as conventional gender roles change. Products for skincare, haircare, and grooming that are specifically catered to the requirements of men are becoming more and more popular as they embrace grooming and self-care. In response, the cosmetics business has developed creative formulas and marketing techniques that challenge prejudices and encourage diversity. Men are more at ease experimenting with and embracing beauty regimens as cultural perspectives change, which has led to a favorable response and a developing global market for men's beauty goods.

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