FMCG cos expect fewer price hikes, robust growth in 2023 despite headwinds

Industry strong enough to withstand another Covid hot for at least two quarters; global recession to have little impact; rural demand remains a concern

Fast moving consumer goods (FMCG) companies kickstart their new year with high hopes of robust growth despite rising recession fears and persisting Covid like situation globally.

The companies are optimistic about the urban and rural growth in 2023 and expect less price hikes, cooled off inflation and robust consumer demand.

Last year, the FMCG industry faced two major challenges — subdued profit margins and weak rural demand — which are expected to improve in this financial year, say industry experts.

Predicting the growth for this financial year, CRISIL, a research agency, said that the revenue of the FMCG sector will