The fast-moving consumer goods (FMCG) segment is the fourth largest sector in the Indian economy. The market size of FMCG in India is estimated to grow from US$ 30 billion in 2011 to US$ 74 billion in 2018.
Food products is the leading segment, accounting for 43 per cent of the overall market. Personal care (22 per cent) and fabric care (12 per cent) come next in terms of market share.
Growing awareness, easier access, and changing lifestyles have been the key growth drivers for the sector.
What are FMCG goods?
FMCG goods are popularly known as consumer packaged goods. Items in this category include all consumables (other than groceries/pulses) people buy at regular intervals. The most common in the list are toilet soaps, detergents, shampoos, toothpaste, shaving products, shoe polish, packaged foodstuff, and household accessories and extends to certain electronic goods. These items are meant for daily of frequent consumption and have a high return.
Infocost have full strength of costing professional equipped with SAP management accounting expert knowledge to help the FMCG industry and organizations in achieving the required cost control and optimization measures.
May it be target costing, standard costing, actual costing, activity based costing, profitability analysis, make or by decision, planning and budgeting, recovery reporting, costing sheets and many more MIS and decision making tools.
PoV of Infocost on FMCG Industry
The Government of India has also been supporting the rural population with higher minimum support prices (MSPs), loan waivers, and disbursements through the National Rural Employment Guarantee Act (NREGA) programme. These measures have helped in reducing poverty in rural India and given a boost to rural purchasing power.
Hence rural demand is set to rise with rising incomes and greater awareness of brands.
We have vast experience in costing and management account in FMCG industries and have developed the costing and MIS modes for such industries.