Global Consumer Goods Sector Overview and Channel Outlook

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In 2021, alcoholic drinks, household care, and non-alcoholic beverages are estimated to be among the fast-growing sectors, especially in Asia, the Middle East and North Africa (MENA), and Africa. All of these sectors are expected to record growth across all regions during the forecast period. China and India are expected to lead the recovery in most sectors, with revival also predicted in the US and Western Europe.

What is the regional outlook of the global consumer goods market?

While Asia and Africa set the record for the highest growth in terms of absolute value and percentage terms over the forecast period, the Middle East and North Africa became the only region to record growth during the pandemic. The largest region for consumer goods, Asia, recorded the lowest decline in terms of percentage decline and is expected to recover robustly over the forecast period. Africa is set to record the fastest growth, followed by the Middle East & North Africa. Western Europe, which accounted for the second-largest regional share by value in 2020, recorded a Y-o-Y decline with full recovery not expected until after the forecast period. On a country basis, China is set to lead the recovery of most sectors over the forecast period. India leads for growth prospects across the food, pet care, tobacco, and cosmetics and toiletries sectors.

Global consumer goods market, by regions

Global consumer goods market, by regions

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What are the key sectors in the global consumer goods market?

The key sectors in the global consumer goods market are alcoholic drinks, food, cosmetics and toiletries, household products, pet care, baby care, tobacco and tobacco products, OTC healthcare, and non-alcoholic drinks.

Alcoholic drinks

During the pandemic, alcoholic drinks recorded a Y-o-Y decline in sales globally. However, in 2021 the industry was expected to recover with the easing of restrictions. Growth in beer and cider sales drove the revival of the sector.

Food

Categories such as other frozen foods, other dried food, meat substitutes, and other canned foods were expected to register significant growth during 2021 as well as over the forecast period. However, categories such as meat, confectionery, and prepared meals are expected to register marginal growth. The low growth of meat can be primarily attributed to more consumers shifting to meat substitutes and alternative diets. Dairy and soy food is the second-largest category and bakery, and cereals is the third-largest category within the sector.

Cosmetics and toiletries

All categories within cosmetics and toiletries except for make-up were estimated to record growth in 2021. Particularly strong growth is forecast for feminine hygiene, oral hygiene, and skincare. Over the forecast period, the make-up category is forecast to be the fastest-growing category.

Household products

There was a sudden surge in the demand for household products amid the pandemic as consumers focused their attention on hygiene to limit the spread of the COVID-19 virus. As a result, the industry registered a Y-o-Y growth in sales in 2020. In 2021, many countries witnessed a second or third wave, forcing consumers to continue to keep their homes clean and sanitized. Dishwashing products and general-purpose cleaners are expected to continue to be in higher demand.

Pet care

Owing to the stay-at-home trend, people will be more likely to adopt pets. As a result, expenditure on pets is expected to rise.

Baby care

In 2020, consumers could not reduce their expenses on baby care products as they are essential and a daily need. This resulted in relatively strong growth for the industry across all regions, except for the dip in sales of baby personal care products in Western Europe. Asia was expected to present favorable market conditions for both baby food and baby personal care categories in 2021.

Tobacco and tobacco products

Sales of tobacco and tobacco products registered a Y-o-Y decline in 2020. However, the sector is expected to bounce back led by growth in smokeless tobacco in Eastern Europe and North America alongside the growth of smoking tobacco in North America. Furthermore, tobacco and tobacco products are expected to witness growth in the long run across all regions during 2020–2025. One exception is decline in smokeless tobacco within the Asian region and cigars and cigarillos and cigarettes in the Australasian region.

Global consumer goods market, by sectors

Global consumer goods market, by sectors

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Market report scope

Key sectors Alcoholic Drinks, Food, Cosmetics and Toiletries, Household Products, Pet Care, Baby Care, Tobacco and Tobacco Products, OTC Healthcare, and Non-Alcoholic Drinks

Reasons to Buy

  • Gain a broader appreciation of the fast-moving consumer goods industry by gaining insights from both within and outside of your sector.
  • Identify where the market is going and how consumer sectors are predicted to recover from the impact of COVID-19 in 2021-2022.
  • Understand the scope of market growth for various consumer sectors across geographic regions over the next five years.

Table of Contents

Table of Contents

Executive Summary

Global and Regional Summary

Regional Outlook

Sector Outlook

Appendix

Methodology

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