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Thursday, 23 February 2012

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Consumer goods market thriving

Consumer goods market has become one of the thriving sectors in Sri Lanka over the years and the rapid growth of the industry has led to a fierce competition among manufacturers, who are trying to provide quality products at normal price ranges for local consumers. Bartleet Religare Securities report said.

In 2010, Fast Moving Consumer Goods (FMCG) market weighted at Rs. 141 billion of which 74% is captured by the food and beverage sector which also includes the consumption of cigarettes.

Personal care and home care accounted to a 15% and 11% market share respectively. The consumers' dependence on imported FMCG products has come down as a result of locally manufacturing good quality substitute products. In addition, Sri Lankans are reported to shop at least four times a month compared to consumers in India and Thailand. (IH)

 

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