The fast moving consumer goods industry is rapidly growing and one of the largest among other industry both within and outside Nigeria. With more and more companies springing up everyday, the business opportunities available in this intrustry numerous. If you are thinking of starting a business in the FMCG industry, here are 5 Largest Consumer Products Companies In The World, you can probably consider investing in.
Even before it began 2018 with its watershed move away from candy, Nestlé was busy in 2017 reinforcing its high-end coffee portfolio by scooping up complementary brands Chameleon Cold Brew and Blue Bottle.
It also entered the plant-based protein market with the purchase of Sweet Earth Foods and boosted its health and wellness strategy with vitamin-maker Atrium Innovations. The company has zoned in on advancing high-growth food and beverage categories (coffee, pet care, infant nutrition and bottled water), and expanding its presence in emerging geographic markets.
As for the future, Nestlé is examining which technologies will best help it stay on top of trends. Chief information officer Filippo Catalano recently told Marketing Week that “the Internet of Things is becoming an important platform for brands,” noting that Nestlé sits in an advantageous position as a company that sells products and appliances that can be connected (think coffee and beverages) to consumers in their homes.
2.Philip Morris International
Philip Morris International marked 2017 as a “landmark year in its transformation for a smoke-free future.” The growth that the company experienced underscored the enormous promise of “reduced-risk products” (a term trending in tobacco company annual reports this year), the strength of the combustible product portfolio, and the commitment of its employees to leading industry transformation.
In fact, PMI attributes its strong financial results to the product development, commercialization and science behind flagship smoke-free product IQOS, which exceeded expectations. The trend toward RRPs has initiated fundamental changes to operating models, organizational structure and culture, which has accelerated an “evolution into a consumer-centric, technology and science-driven company,” according to the annual report.
To keep up with the accelerated expansion of the heated tobacco unit and IQOS, the company undertook a major revamp of its manufacturing and supply chain activities in 2017, increasing machines, production efficiency and facilities while reducing per-unit costs.
3.Procter & Gamble
P&G has significantly streamlined its product portfolio in recent years. (Divestiture of its “Beauty Brands” actually gave Coty, Inc. a big boost in this year’s rankings). But its remaining 65-odd brands are leading the market in 10 category-based businesses. As such, P&G has not been shy about plans to save up to $10 billion from fiscal 2017 through 2021 by delivering on the four key elements outlined below.
P&G believes its greatest savings will come in (1) cost of goods sold through opportunities in raw and packaging materials, manufacturing, transportation and warehousing as the company fully synchronizes its supply network and replenishment systems. In (2) marketing spend, it plans to drive down media rates and waste, reduce agency/advertising costs and improve efficiency of in-store materials and direct-to- consumer programs. Elsewhere, trade spend (3) is another large pool, where just a 10% efficiency improvement will result in meaningful savings (through improved execution and optimized investments). Finally, overhead spending (4) will focus on increasing end-to-end business accountability.
Another significant move in 2017 was the appointment of Coca-Cola veteran Javier Polit as CIO. He brought a passion for technologies within mobile commerce, customer analytics, the IoT and digitization.
In April 2016, the company tapped into the IT expertise of CIO Jody Davids to continue “digitizing PepsiCo for growth.” To that end, Davids has been working on “delivering technologies that automate business processes, analyze data for business insights and enable employees to collaborate more easily,” she told Forbes.
PepsiCo has been challenged with identifying innovative products that will appeal to the healthier snack and beverage preferences of Millennials.
And with Davids at the helm, it has been busy stabilizing and centralizing its IT systems, ultimately creating a 95% improvement in service uptime. After creating a more solid IT function, the focus has shifted to the standardization and harmonization of data to make better decisions for both retail customers and consumers. “We think the next frontier is the consumer,” Davids told Marketing Week, where she also noted working with the businesses on automation and digitalization.
Next on the CIO’s to-do list is blockchain, which Davids believes holds intriguing potential for all large corporations.
Chief marketing officer Keith Weed may have summed up Unilever’s recent efforts best when he said, “For consumers, 2017 was the year of mobile video and voice. However, for the industry, if it was anything, it seemed to be the year of the digital supply chain.”
Unilever has undertaken well-publicized initiatives into new technology and marketing tools. The company also adjusted the portfolio in 2017, selling off the spreads business while picking up a handful of brands “with purpose.” Acquisitions in 2017 included Brazilian natural food company Mãe Terra, Millennial-focused beauty oufiit Sundial Brands, and specialty tea brand Tazo.
Unilever also attributes recent growth to work at the Unilever Foundry platform for startups and innovators. Two examples: Knorr partnered with artificial intelligence specialist Digital Genius to reach consumers in emerging countries such as India, and a fully automated “Chef Wendy” chatbot provided recipe suggestions via SMS.
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