I have studied economics for years and love to write about economic trends and conditions. I write for www.economywatch.com and www.economypedia.com.
The FMCG Industry
The FMCG industry, or alternatively named CPG, abbreviation for Consumer Packaged Goods, deals mainly with the production, distribution as well as marketing of packaged goods for all consumers.
The Fast Moving Consumer Goods (FMCG) has to do with those consumables which are regularly being consumed. Among the first activities of the FMCG industry there is selling, marketing, financing, purchasing, and so on. Recently this industry has also launched in operations, supply chain, production, general management, etc.
The wide range of consumable goods provided by the FMCG industry turns over a large amount of money, while competition among FMCG manufacturers is become more and more fierce. Investors are putting more and more into the FMCG industry, especially in India, where the FMCG industry is the fourth largest sector, having a total market size of more than US$13.1 billion, and still estimated to double by 2010. In New Zealand as well, the FMCG industry accounts for 5% of Gross Domestic Product (GDP).
Some common FMCG product include food and dairy products, glassware, paper products, pharmaceuticals, electronics, plastic goods, printing goods, household products, photography, drinks etc, so here coffee, tea, greeting cards, gifts, detergents, soaps etc are all included.
The factors that made the FMCG industry a highly competitive one are low operational cost, solid distribution networks, and emergence of new FMCG companies. In addition, the growth of the world’s population is another responsible factor for the huge success of this particular industry. Some of the leading FMCG companies all over the world are Sara Lee, Nestlé, Unilever, Procter & Gamble, Coca-Cola, Carlsberg, Kleenex, General Mills, Mars etc.
Not only does it provide the necessary goods for day to day life, but the FMCG industry has also created tremendous job opportunities and careers. It is a stable, varied, and highly profitable industry, and the jobs it provide range from sales, supply chain, finance, marketing, operations, human resources, development, general management, and so on.
Recruitment has also grown together with the growth in the FMCG sector:
· The working force within FMCG manufacturing in the UK accounts for 14% of the total workforce in UK;
· Sales in the FMCG industry accounted for £14.5 billion in 2000, spent on non-food UK products alone, in grocery retail sectors in UK;
· In 2000 the non-food FMCG market in UK, raised to £110 billon.
Including sectors such as Food, Drink and Pharmaceutical the output registered by FMCG accounts for 19% of the UK's GDP.
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