FMCG leaders mark down overall growth to 3% amid coronavirus outbreak

According to Nielsen, panic buying of food items and hygiene products has pushed up growth rates of food and non-food categories by 300 and 400 basis points respectively.

The Rs 4.3-trillion fast-moving consumer goods (FMCG) market may see its overall growth rate decline to 3 per cent in the January-March period as measures to contain the impact of Covid-19 intensify, top companies have told Business Standard. The gloomy industry projection is in sharp contrast to the forecast by research agency Nielsen, which has maintained its 5-6 per cent quarterly growth outlook.

The assessment by companies is based on the lockdown and supply crunch that most of them are facing. “There is no denying that there is an impact on business because of the virus scare,” said Mayank Shah, senior