The consumer goods industry is rapidly expanding worldwide, thanks to the rapid increase in population. The growing preference for e-commerce and online distribution is another key driver boosting the FMCG industry. The global FMCG market is projected to reach $15.36 trillion by 2025, registering a CAGR of 5.4%.
While inflation is gradually declining, it still remains significantly high and far from the Fed’s 2% target. With the Fed likely to continue rate hikes this year, a recession might be imminent. Moreover, the IMF has forecasted that global growth will drop to 2.7% or less in 2023, compared with 6% in 2021 and 3.2% in 2022.
