Steady growth of FMCGs with food taking a leading role in 2024
Thursday, January 30, 2025
In 2024, the Fast-Moving Consumer Goods (FMCG) market maintained its upward trend, albeit with more moderate growth rates compared to the impressive 2023. According to Circana’s Market View for November 2024, the total sales value reached 10.87 billion euros, marking a 3.1% increase compared to the previous year. Despite the slowdown, food and beverages remain the undisputed market leaders, forming the backbone of growth.
Non-alcoholic and alcoholic beverages in the spotlight
Food maintained its dominance with an 81.8% market share of total sales value. Packaged foods showed a moderate increase of 1.6%, while the more dynamic categories included snacks, dairy products, and frozen foods, which recorded increases of 3.4%, 4.2%, and 5.3% respectively. Non-alcoholic beverages stood out with a 6.9% rise, while alcoholic beverages followed with a 6.5% increase, confirming consumers’ continued preference for these products.
The success of private label (PL) products continued in 2024, with their market share reaching 27.4%, up from 26.7% the previous year. This rise reflects consumers’ shift towards more economical choices, particularly under economic pressure. Food and beverage categories played a crucial role in this development, with PL products proving particularly competitive. On the other hand, non-food categories, such as health and beauty, as well as household items, showed stagnation or slight decline. The personal care category decreased by 0.5%, while household items declined by 0.4%, indicating that consumers are focusing on basic products and daily necessities.
Overall, the FMCG market in 2024 was characterized by more balanced growth, with food and beverages maintaining their leading role. Despite the moderate increase, sales in key categories remain resilient, underlining their non-negotiable position in the shopping basket. The enhanced presence of PLs, combined with steady demand for food, continues to drive overall growth.
Fotini Apostolou
Source: FoodReporter January 15th 2025 #1326, page 3.