Globally, the existing economic environment is stable for the FMCG industry, as stated by 49% of respondents. Meanwhile, 22% felt that current economic conditions were favorable for the FMCG industry.
The recent global COVID-19 pandemic has affected the entire global economy, including the FMCG sector. The government move towards partial/complete lockdown in most of the regions has affected supply chains, thereby, significantly impacting the business growth of FMCG companies.
The current global uncertainty coupled with restricted consumer spending has halted the growth of FMCG companies. Furthermore, 41% of respondents expect a positive change in consumer confidence over the next 12 months (March 2020-February 2021). Globally, surveyed executives anticipate a 4.6% rise in the price of raw materials. Regulatory concern and increasing tax burdens are viewed as the most pressing worries for FMCG companies over the next 12 months.
FMCG Industry Business Confidence Report 2020 examines executives' opinions on the business environment during the next 12 months (March 2020-February 2021). It also covers existing economic conditions, supplier price variations, sales performance, industry and company growth outlook, spending patterns, and key priorities. Additionally, the report provides information categorized by region.
What else does this report offer?
- Current state of the global economy: examines prevailing economic conditions globally and across various regions
- Company and industry growth outlook: provides industry executives' expectations of growth prospects for their company and for the industry over the next 12 months
- Change in customer confidence: analyzes FMCG industry executives' opinion on changes in customer confidence during 2020-2021
- Supplier prices projection: determines expected change in supplier prices across various categories and their impact on business confidence
- Change in staff headcount and sales performance: tracks expected change in staff headcount and sales for 2020-2021 among industry executives globally as well as regionally
- Significant investment activities: highlights various areas in which industry executives intend to spend and invest over the next 12 months
- Business concerns: provides information about potential business concerns indicated by survey respondents for 2020-2021
- Key priorities: identifies the top priorities of industry executives operating in various regions
- The highest percentage of respondents view the current state of the global economy as stable in terms of its impact on the FMCG industry
- Overall, supplier prices for packaging are expected to rise by an average of 4% over the next 12 months
- Executives indicated that green initiatives will see the highest increase in capital expenditure during 2020-2021, followed by new product development
- Surveyed executives showed more optimism towards their industry's growth prospects than the company's growth prospects over the next 12 months
- The majority of respondents with business operations in Asia-Pacific point to health epidemics as their most critical concern for 2020-2021
For more information about this report visit https://www.researchandmarkets.com/r/yp9ej