The FMCG sector paints a positive picture for the upcoming year. The industry is expected to grow to a size of $103.7 billion in the year 2020, reports India Brand Equity Foundation (IBEF). Rises in income levels of the working class, and favorable demographics, will lead to increased consumption and can lead to the above stated result.
Another large driver is the rural FMCG market, which is expected to grow at CAGR 18.1 percent. Rural India is catching up fast as income levels rise. IBEF reports that the total Indian rural income is projected to reach USD 1.8 trillion by 2018.