India FMCG Sector Dashboard

The FMCG market witnessed explosive growth post-2020, with market size jumping from $65 Bn in 2019 to $110 Bn in 2020 (a 69% increase). This was driven by essential goods demand during the pandemic. The market continued its upward trajectory, crossing $200 Bn in 2023 and reaching $287.9 Bn in 2025. The CAGR from 2011 to 2025 stands at 13.2%, with the most recent years showing accelerated growth.

Urban and rural FMCG growth have shown distinct patterns over the years. Pre-2017, urban growth outpaced rural. Post-2017, rural growth started catching up, and by 2025, rural growth (3.6% full-year volume) surprisingly outperformed urban (4.6% full-year volume). The 2025 quarterly data reveals a sharp slowdown in urban growth (2.3% in Q4) while rural maintained resilience (2.9% in Q4), highlighting the shift in consumption dynamics toward rural India.

The WPI for Consumer Non-durables has shown significant volatility over the past few years. The index peaked at 181.1 in Dec 2025 (8.5% growth), followed by a sharp decline to 150.6 in Mar 2026 (1.1% growth). This volatility is driven by changing food and commodity prices, seasonal factors, and supply-demand dynamics. The base year revision (2011-12 to 2022-23) has also impacted index comparisons.

The WPI for Manufacture of Food Products has shown a steady upward trend from 98 in Jan 2024 to 113.1 in Jun 2026 (annual growth ~4%). Food inflation remained moderate, peaking at 10.4% in Dec 2025 and easing to 4.0% by May 2026. This stability is positive for FMCG companies, as it allows for predictable input costs and better margin management.