Fast Moving Consumer Goods (FMCG)
Industry Profile
Overview of the Fast Moving Consumer Goods (FMCG) Industry
What do carbonated drinks, bathing soap, spaghetti, painkillers, shaving sticks, and other consumables you buy at the nearest retail outlet to you have in common? They all belong to one of the world’s largest industries; Consumer Packaged Goods (CPG) or Fast Moving Consumer Goods (FMCGs). They are affordable, fast selling, highly demanded items— packaged for easy distribution, long-term preservation on shelf spaces and easy access by consumers.
It is a global multi-trillion-dollar industry with activities spanning product development, manufacturing, packaging, marketing, wholesale, distribution and retail sales. Though these items may seem cheap, the business is in their volume and quick turnaround time from high demand.
The industry’s products include processed foods such as breakfast cereal and boxed pasta; fresh food/groceries such as fruits and vegetables; frozen items such as ice cream; baked food such as pastry items; dry goods such as coffee; tea, sugar; candy such as chocolate bars; soft drinks and beverages; alcoholic drinks; fruit juice; dairy; and bottled water.
It also includes beauty products such as cosmetic makeup and hair products—toiletries, toothpaste and shampoo; cleaning products—bleach and soap; office supplies such as paper, pens, pencils, and notebooks. It includes over-the-counter medications such as pain killers and multivitamins. It also includes items of clothing such as undergarments and socks. Indeed, it’s an industry all around us.
Global
Estimates on the global size of FMCGs vary due to the varying approach to measurement. However, estimates range from as much to it being a $5-10 Trillion-dollar industry by 2020 with consistent growth expected. Euromonitor’s report shows that global FMCG sales reached USD 4.2 trillion in 2018. The combined top 50 players have a total sales revenue of $1.09 trillion and featured an average growth in sales revenue of 7% in the last financial year.
The top players in the industry are highly formal and structured firms. However, it support millions of jobs in the informal sector which is the largest employer in most of the world’s developing countries.
Ghana
FMCG includes food, personal care, health, etc., and Ghana’s food industry is a four-billion-dollar segment. Approximately 45-50% is food, around two billion dollars. Ghanaians spend most of their income on food and non-alcoholic beverages, that account for 41% of total expenditure. In addition, Ghana is the 11th largest grocery retail market in Africa and the second largest in West Africa after Nigeria. The open market is the dominant segment for food retail outlets in Ghana.
According to Kantar, stockpiling during lockdown helped drive dramatic growth for FMCG in 2020 as heavier basket sizes and more purchase occasions drove sales, particularly in food. As a result, annual volume growth hit 28% for FMCG across the country. Across the year, Beverage showed the most significant rise (up 34% and including a 0.1% rise in Q4), followed by Food (28%) and Personal Care (25%). Grocers and local stores were the critical sources of growth – up 29.5% by volume – as consumers set out to minimise the time in crowded areas. By contrast, kiosk sales grew by 2.6% across the year but took the biggest hit in the final quarter, down 27.2%.
Three-quarters of the top consumer goods companies are distributors, and the remaining 25% are manufacturers, three of which also distribute consumer goods. The Ghana retail industry market is dominated by businesses with ownerships from India, Lebanon, and other European countries. They supply goods majorly from Asia, the EU, and South Africa.
Kenya
According to a KPMG report in 2014, Kenya is one of 10 African countries with exceptionally high potential for FMCG expansion due to surging demand in the food and beverage and personal care segments. Growth in the FMCG sector is driven by several factors, including Kenya’s rising middle class; the African Development Bank estimates that 17% of Kenyans can spend $2-20 per day.
The World Bank’s Global Consumption database forecasts household expenditure on FMCG goods in Kenya to increase from US$23bn in 2010 to $37bn in 2020. The FMCG industry has been a critical contributor to Kenya’s industrial growth, evidenced by the entry of international firms and increased investments in existing firms. These multinational firms include Coca-Cola, Unilever, Procter & Gamble and Johnson & Johnson. The sector has a low-margin, high, volume business model—products are always almost identical with increased price competition.
Nigeria
Nigeria has a vibrant FMCG industry, with its expenditure of $41.7bn in 2019 the highest in Africa. As an industry primarily driven by consumption, Nigeria’s population of more than 200 million people—a project to surpass 400 million by 2050—makes it a target growth market for several local and international brands. Hence, the high rate of competition in the country’s FMCG industry.
Retail and wholesale sales make up 16.1% of Nigeria’s GDP in 2018, making retail and consumer goods sales the second largest contributor to the national GDP. The National Bureau of Statistics Foreign Trade in Goods Statistics Report (Q4 2019) revealed that the Food, Beverage and Tobacco subsector of the FMCG sector, contributes about 5% of Nigeria’s Gross Domestic Product (GDP) and FMCGs constitutes 17% of the total value of equity on the the Nigerian Stock Exchange (NSE) by December 2019.
The world’s leading FMCG multinationals such as Nestlé, Unilever and Kellogg have made significant investments in Nigeria in recent years. According to a 2015 estimate, there are more than 200,000 roadside or “table-top” vendors in Nigeria. These are the primary source of daily purchases for more than 80 per cent of consumers in the country, reflecting the dominance of informal trade in the industry.
South Africa
FMCG (Fast-moving consumer goods) is one of the largest sectors in the South African economy.
There are significant advantages for the sector in South Africa’s market size of approximately 55 million people and its young, expanding population. Despite only being in the top 25 for population and the top 90 for GDP per capita, South Africa is already one of Coca-top Cola’s ten markets worldwide. Although pay growth about 2% higher than the inflation rate has generally harmed the manufacturing sector, FMCG companies have positively influenced consumption. Some industries, such as canned foods, may even profit from compression in profits as consumers turn away from fresh produce.
- Globalisation of brands: Brand owners are looking to replicate brand success in saturated markets in other emerging markets, including Sub-Saharan Africa’s fastest-growing economies.
- Expansion of product portfolio: The rise of the middle class with more spending power has led to more emphasis on premium/aspirational and healthy products alongside existing mass and traditional brands to drive profit margins. These have led to the recent increase in merger and acquisition activities in the industry.
- Direct to Customer (D2C) and subscription business models: Social media and e-commerce facilitate emerging business modes. Startups and companies use these platforms to build more intimate customer relationships. And also lower their cost with direct sales to the final consumer on a subscription basis.
- Sachetisation of products: There is a lull in the growth of several African countries. Companies respond to the demand of low-income customers by making products in sachets and at an entry-level price. Some countries are called Sachet Economies.
- Disclosure of product content: Asides from making the calorie content of food available on product packages, some companies indicate their carbon footprint. There is also adherence to religious laws such as kosher for Jewish diets and halal for Islam; the latter is more common in Africa.
- Alcohol-free and low-alcohol drinks: Low-alcohol and no-alcohol drinks have been gaining popularity over the past few years, with drinks such as hard seltzers increasingly populating supermarket shelves across the US and Europe. Even though alcoholic drinks are not likely to disappear any time soon, the market share of healthier, low-alcohol and no-alcohol drinks is one to keep an eye on within potential agribusiness trends.
Organisations exist to address the specific needs & priorities of companies in the safety of consumer products. Several others exist as consumer protection agencies. Most of these agencies adhere to existing global standards.
Ghana
Ghana Standards Authority (GSA), Food and Drugs Authority (FDA) Ghana.
Kenya
Micro and Small Enterprises Authority, Ministry of Industrialisation, Trade and Enterprise
Nigeria
Standard Organization of Nigeria (SON), National Agency for Food and Drug Administration and Control (NAFDAC), Consumer Protection Council (CPC)
South Africa
The Department of Trade Industry and Competition, Consumer Goods Council of South Africa (CGCSA).
Innovation Opportunities
- Digital Marketing. The competitive nature, little differentiation in product and pricing makes marketing in the FMCG industry intensive. Companies are no longer relying on only TV and Billboard advertising to reach their audience. Several have turned to advertise on social networks and content marketing to engage their customers. Digital marketing makes it easy to target prospects. They do this by measuring the effectiveness of adverts in real-time and interact with their customers. Sales still dominantly occur through traditional channels. However, digital marketing holds a strong influence on offline purchasing decisions.
- Brand Listening: For the millennials—social media has become the first point of expression. Customer perception and behaviour analysis come through online listening and sentiment analysis with machine learning algorithms. Companies can read online reviews of their products by customers. They can gain more insights into purchase habits by finding the most associated words with their brands. Companies can also gain competitive intelligence by online monitoring of other brands.
- Customer Experience: The rise of e-Commerce provides immense opportunities to improve the customer shopping experience and boost revenue. Companies can now recommend products to their customers. These are based; on the shopping habits of similar customers and changes in seasons. Touchpoints for personal customer interactions have extended beyond retail outlets through omnichannel touchpoints.
- Improvement in Supply Chain: To improve efficiency in the distribution of products, companies rely on Supply Chain Management (SCM) software. They are using Enterprise Resource Management (ERM) software to manage their supply chain activities.
- New business models: trends such as direct to consumer (D2C) and subscription for the occasional supply of essential products are being made possible with internet technologies.
- Dominance of the informal sector. Despite the top FMCG companies being well-organised firms, the market players that reach the consumers are non-formal. Traditional sales channels still dominate, despite the growing investment in shopping malls and supermarkets. These presents several challenges, like gathering data on consumer behaviour.
- Market Complexity: the market is also highly fragmented with cultural and functional disparities. Tastes vary across regions and companies, especially in the food and drink segment. Companies have to adapt in terms of variations in products sold and marketing communications.
- Last mile distribution: Distribution is a core business function in the industry. Unfortunately, the low level of infrastructural development in several African countries makes it difficult. Also, a high risk of product damage leads to expensive insurance premiums—contributing to a high cost of doing business.
- Price sensitivity over brand loyalty: FMCGs earn brand loyalty by consistently delivering quality products and building an appealing brand to engage customers. However, despite brand loyalty still being of value, consumers in sub-Saharan Africa are sensitive to change in prices and quickly move over to the next affordable brand.
- Complexity of doing business: Caused by changing government regulations on importation and foreign exchange that can be sudden. Long-term planning is tricky due to uncertainties in micro and macroeconomic conditions.
Some of the SDGs to which the consumer goods industry can make crucial contributions to are:
- SDG 2: End hunger, achieve food security and improved nutrition and promote sustainable agriculture. These are achievable through collaborating with farmers to recommend inputs and better agricultural practices. And also, off-taking contracts; to reduce post-harvest loss value-adding to food for better preservation and more efficient distribution to final consumers.
- SDG 3: Ensure healthy lives and promote well-being for all. These are achieved; by raising consumer awareness on the importance of nutritious diets, physical activity, and personal care and hygiene. Other ways include; detailed nutritional information, replacing sugar with healthier sweeteners and the fortification of food with essential vitamins.
- SDG 6: Ensure availability and sustainable management of water and sanitation for all. These are achievable through a commitment to efficient water use in producing soft drinks, alcoholic beverages, and table water. And also, by making clean water accessible in manufacturing communities and proper disposal of waste.
These include supply chain Management; distribution to the last mile; small scale traders’ relationship with FMCG companies; business models, strategy, competition; brand equity; advertising and marketing communications; promotional strategies; consumer behavior, customer acquisition, retention and loyalty; new product development, product and package testing, market research: customer surveys, shop-along, mystery shopping, taste-testing, social listening and monitoring; product shelf-life; brand positioning and market segmentation; consumer rights and protection, and sustainability.
Career Opportunities
FMCG companies are involved in a wide range of activities. These open up job opportunities for graduates from a wide range of disciplines. Job areas in the industry include:
- research and development
- procurement
- supply chain/logistics
- brand and product management
- engineering and manufacturing
- quality assurance
- sales and marketing
- packaging and pricing
- customer care
Career disciplines that fit well into the industry are Marketing, Sales & Services for product development and distribution, Design & Engineering for production. And also Media & Communications to drive marketing, Finance, Management & Business Administration and other areas, such as Information Technology and People management.
The FMCG industry has some of the highest-paying companies in the world. The industry regularly features as one of the best in some countries for graduates to start their careers.
In terms of compensation; multinationals, foreign local joint ventures, or local companies with a portfolio of international brands pay far more than local companies with local brands. The industry also consistently ranks as one of the best industries for graduates with a business, management and marketing degree to start their careers.
- Communication and Persuasion: These are applicable, reporting sales performance, crafting and launching communicating campaigns to customers and negotiating with suppliers and distributors.
- Professionalism & Industry Awareness: These are applicable for easing and thriving in the work environment and interaction with colleagues. As a dynamic industry, it is crucial to stay abreast of changing consumer habits, product launches from the competition, and the latest trends.
- Continual Learning & Adaptation: As a huge industry, there may be changes to job roles, brand focus and location or both. Being able to learn on the job and adapt to changes are essential for thriving in the industry.
- Analysis & Problem Solving: Why are the sales of a brand of drink stalled? How do we open to expanding our distributorship in the North? How do we ensure this new soap is available across supermarkets; to meet demand during the marketing campaign? These are just a few of a wide range of questions always asked in the industry. They require the ability to analyse the current situation to provide actionable answers.
- Critical Thinking and Creativity: The industry is highly competitive and requires innovation to stand out— demonstrated in product development, positioning, pricing, marketing communications, and seasonal promotions. Critical thinking and creative skills are needed to come up with innovations. These not only boost sales in the short term but inspire long-term brand loyalty.
- Digital Skills: The FMCG is a volume industry which deals with a lot of numbers. Data Analytics skills can help merge data from multiple sources such as brand categories to develop dashboards that show product sales across different locations over time. Data Science skills can help to derive insights such as customer behaviour in response to product changes and make predictions on seasonal brand performance based on historical data. Digital marketing skills can help execute online marketing campaigns within the company or outsource to agencies while doing a social media “listening” of audiences.
Many companies in the FMCG industry demand graduates with at least a 2.1 degree across a wide range of disciplines, except for specialised technical roles such as research and development, manufacturing and quality assurance that may demand specific degrees such as Food Science and Technology; Chemistry, and Science Laboratory Technology.
The profession of each individual determines the relevance of training—with professional bodies and qualifications accessible.
Higher degrees are available in specific areas of interest such as product management and supply chain management. These qualifications and degrees may not be directly relevant or rewarding to the job role in the industry. However, they are helpful for career mobility.
Most of the major FMCG companies offer training schemes for graduates—with a second-class upper degree across a wide range of degrees being a common requirement. Areas available to graduates during these schemes may include supply chain management, business, technology and marketing. Graduates may have the privilege of rotating across areas before specialising.
Some graduate schemes require applicants to specify if they want to work in the technical, commercial or operations support roles in their graduate scheme. Others are general, providing graduates with the opportunity to work across various units until they specialise.
Information on graduate recruitment is usually available in press releases: on job sites, websites, and social media handles. Some FMCGs go as far as visiting campuses to recruit the best students.
However, universities close to industrial zones benefit from this the most. Some now do their career fairs online to provide tips for applying to students. Most of these schemes are available for application online. Selected candidates are invited for aptitude tests online or at designated assessment centres. Qualified candidates then progress to at least two stages of interviews which test for analytical and soft skills, and sometimes the commercial/industry awareness of candidates.
Companies also offer work experience placements and internships. These can provide leeway into a company if you are looking to apply for their graduate scheme after completing your degree.
Building a good relationship with colleagues and managers—in addition to performing well can give you afoot at the door during graduate recruitment provided going through the process is still required.
Innovation and entrepreneurial actvities are booming in the healthy drink and food segment of the FMCG industry. Consumers are becoming more health-conscious. However, having a healthy product is not enough; gaining foot as a business in the FMCG industry is built on marketing prowess, distribution and economies of scale.
Startups are also entering the industry to provide solutions to market insights and last-mile distribution in the e-commerce sector. eCommerce is also an emerging channel for FMCGs in Africa.
The FMCG industry is home to the world’s biggest brands and consumer companies such as Coca-Cola, Procter & Gamble, Unilever, PepsiCo, Nestle, Gillette, Johnson & Johnson and Mars.
Large FMCG companies typically serve as a giant umbrella for many brands, sometimes having overlapping products targeting the same customer segment.
The fast-paced and competitive nature of the FMCG industry—makes it one of the most exciting industries to pursue a career. It exposes graduates to a wide range of business functions than most sectors do. However, there is room for specialisation along the line.
With innovation and marketing essential to succeeding in the industry, there is a continual need for innovation in packaging, advertising and communications aimed at the consumers. It remains one of the best industries to groom marketing communications and sales professionals. Its dynamism and diversity make it welcoming for graduates from any degree background.
Job roles in the industry mostly transfer directly into business functions in other industries, making the FMCG industry a launchpad for further career progression.
Job areas include consumer market research, product development, marketing, manufacturing, packaging and branding, sales, and supply chain.
The industry is highly competitive and may demand long hours working with other colleagues poised to meet their targets. Thoe in marketing and sales departments often find themselves on the roads. They visit supermarkets to see how products are placed in other brands and take feedback from sales agents and customers.
Graduates can also pursue technical career paths in research and development, quality assurance and other areas. Large and global FMCG companies have a well-defined career path for progression.
Learning on the job, through work assignments, provides development opportunities rarely offered through formal training and benefits and promotions are depending on the structure that exists in the organisation. Opportunities might exist to gain professional qualifications. However, most multinationals are confident about their internal training schemes and experience as equipping enough to train their staff to hold future managerial opportunities.
Many organisations in the industry are committed to filling a majority of their middle to senior-level roles internally. They have also embraced coaching and mentoring to support the development of graduates.
Multinationals in the FMCG industry rank as some of the highest paying companies in their countries, providing graduates with immense career opportunities. However, there is an emphasis on performance which demands soft and analytical skills and maybe frequently take long hours of work. Insurance, pensions and work leave exist as work benefits. Performance in brand traction and product sales determine promotions and bonuses.
There are professional bodies that individuals working in the industry can join based on their discipline. Complementary bodies, such as manufacturing and retail associations with a focus on business functions, also exist.
Kenya
Kenya Association of Manufacturers
South Africa
Consumer Goods Council of South Africa (CGCSA),
Ghana
Agyakwa Addo, Joel Boateng, Eric Kumah, Ziobeieton Yeo, Jane Reason Akushika Ahadzie
Kenya
Tabitha Karanja, Jane Karuku, Ivy Kimani, Anerlisa Muigai, Darshan Chandaria, Kiprop Bundotich, Phyllis Wakiaga
Nigeria Industry Champions
Aliko Dangote, Oyeyimika Adeboye, Abdul Samad Rabiu, Obi Ezeude
South Africa
Ulf Mark Schneider, Phillipine Mtikitiki, Mohammed Akoojee, Ntsiki Biyela.
Companies in the FMCG industry include companies that make, market and distribute their products to wholesalers and retailers. A company may have a brand distinctive from it or multiple brands which it markets.
Other key companies that offer graduate employment are distributors and wholesalers. These companies sell to other retailers or operate their chain of supermarkets where customers can work; to buy products at their convenience.
Other service providers are advertising agencies and marketing companies, market research and measurement firms.
Global Players
Johnson & Johnson, Nestle, Coca-Cola, Anheuser-Busch InBev SA, Anheuser-Busch InBev SA, Unilever, L’Oreal, Philip Morris International, Altria Group, Diageo PLC, British American Tobacco PLC, Mondelez International, Reckitt Benckiser Group, Estee Lauder Companies, Colgate-Palmolive, Pernod Ricard, Henkel AG & Company, Kimberly-Clark Corporation, Kraft Heinz Company, General Mills, Kao Corporation, Monster Beverage Corporation, Constellation Brands, Kellogg’s Company, Wilmar International, Tyson Foods, Cadbury, and Nielsen.
Other African Players and Startups
Tiger Brands, Dangote Group, GB Foods Africa, Tetra Pak. Eneodata South Africa, and Trade Depot.
Ghana
Gold Coast Matcom Ltd, Fan Milk Ghana Ltd, Guinness Ghana Breweries Ltd, Benso Oil Palm Plantation, Accra Brewery Company, Cocoa Processing Company, Blow-Chem, Syycol, GNPA LTD, Finatrade Group, Melcom Ltd, Forewin Ghana Ltd, Hippo Group, Mafricom Ghana Limited, Rafimex, Fareast Mercantile Co. Ltd (Ghana), Interbrands Ghana Limited, Accra Brewery Company, British American Tobacco Ghana, Cocoa Processing Company, Golden Web, Kuapa Kokoo, Produce Buying Company, Trashy Bags, Unilever Ghana, Indomie, Kelloggs.
Kenya
Unilever, Cocacola, EABL, Proctor and Gamble, KWAL, British American Tobacco, Bidco, Heineken, TATA Chemicals, Brookside, Beauty Soap – Geisha, Colgate, Ariel, Movit, Afia, Guinness, L’oreal, LG Electronics, Gilanis Supermarket Limited, Centro Food, Palmhouse Dairies, Nuvita Biscuits, Britannia Industries Limited, Kenafric Limited, Alpha Dairy Products Ltd, Chemelil Sugar Factory, Mega Wholesales, Alpha Fine Foods ltd, Oyake Entreprises Ltd, Bestbuy Limited.
Nigeria
Flour Mills Nigeria, Honeywell, UAC, Cadbury, Nigerian Bottling Company, Nigerian Breweries, Nestle Nigerian Plc, VITAL Products, Unilever Nigeria, Dangote Group (Dansa Foods Ltd), Coca-Cola Hellenic, FrieslandCampina Plc. PZ Cussons, Chi Limited, Beloxxi Group, Dufil, Tolaram, Cormart Nigeria Ltd, May & Baker, Dufil Prima Foods, Zubee International Ltd, British American Tobacco, Be Global Food FZE (BGF), OK Foods, Cape Cookies, Honeyland, Guinness, Rite Foods, FMCG Distribution, NASCO
South Africa
Premier FMCG, Pick n Pay, Spar, Woolworths, Shoprite, Tiger Brands, RCL Foods, Alpen Food Company South Africa (Pty) Ltd, Liberty Food Pty Ltd, Clorox Africa (Pty) Ltd, Essco Foods, Bliss Brands (Pty) Ltd, Verigreen (Pty) Ltd, Beiersdorf Consumer Products (Pty) Ltd.
Books
- Sam Walton: Made in America
- Why We Buy: The Science of Shopping
- 21st Century FMCG Consumer Marketing
- FMCG: The Power of Fast-Moving Consumer Goods
- The Real Thing
Publications
- The Drum
- FMCG Business
- Nielsen Insights
- Consumer Goods
- Path to Purchase IQ
Podcasts
- Retail Ready
- The Database by Nielsen
- Off the Shelf: The Global Consumer Goods & Retail Industry Podcast
- Investec Consumer and retail team podcast
- Loose Threads — Inside the new consumer economy
Movies
- The Corporation
- Walmart, The High Costs of Low Prices
- 99 Francs
- Mad Men (Series)
- The Story of Stuff
Events:
- African Fintech Foundry
- Lagos Fintech Week
- PayExpo
- Africa FinTech Festival (AFF)
- Digital Payments and the New Economy
Explore Further
Books
- Sam Walton: Made in America
- Why We Buy: The Science of Shopping
- 21st Century FMCG Consumer Marketing
- FMCG: The Power of Fast-Moving Consumer Goods
- The Real Thing
Publications
- The Drum
- FMCG Business
- Nielsen Insights
- Consumer Goods
- Path to Purchase IQ
Podcasts
- Retail Ready
- The Database by Nielsen
- Off the Shelf: The Global Consumer Goods & Retail Industry Podcast
- Investec Consumer and retail team podcast
- Loose Threads — Inside the new consumer economy
Movies
- The Corporation
- Walmart, The High Costs of Low Prices
- 99 Francs
- Mad Men (Series)
- The Story of Stuff
Events:
- African Fintech Foundry
- Lagos Fintech Week
- PayExpo
- Africa FinTech Festival (AFF)
- Digital Payments and the New Economy
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