India’s FMCG sector is expecting double-digit volume-led growth on diverse catalysts in the year 2024 after struggling with challenges in the year 2023, the news agency PTI reported.
Weaker festive demand, rainfall deficit, unseasonal rains and high commodity prices made the year difficult.
Marico MD and CEO Saugata Gupta expects the demand situation to improve in the next financial year. He said that FMCG players are expected to increase the pace of innovation and premiumisation and also focus on significant investment in expanding the quality of rural distribution.
The players in the FMCG segment are also anticipating the expansion of their profit margins with mellowing commodity inflation which would lead them to increase spending on branding, return of promotional schemes for customers and increase dividend payout for their stakeholders.
