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Indonesia's Q3 2023-2024 FMCG Growth; Cosmetics Sector Shows Highest Increase

Erlina Fury Santika 17/01/2025 18:50 WIB

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Kantar Indonesia calculated the growth of several FMCG goods in Indonesia in Q3 2023 and Q3 2024. The beauty category showed the highest growth.

FMCG Product Sales Growth Percentage by Category, Quarter III (2023-2024)

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FMCG Product Sales Growth Percentage by Category, Quarter III (2023-2024)

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A Kantar Indonesia report compiles the growth of several products in Indonesia's fast-moving consumer goods (FMCG) sector in Q3 2023 and Q3 2024.

The highest growth was in beauty products, with sales growth reaching 12% in Q3 2023. This increased significantly to 15% in Q3 2024.

Volume growth for this category reached 5% in Q3 2023 and 8% in Q3 2024. Prices increased by 7% in both Q3 2023 and Q3 2024.

The next highest growth was in food FMCG, at 5% in Q3 2023, rising significantly to 11% in Q3 2024.

Beverages followed, with 4% growth in Q3 2023, surging to 11% in Q3 2024.

Personal care products grew by 8% in Q3 2023 and 4% in Q3 2024.

In-home products grew by 5% in 2023 and 6% in 2024.

Dairy products experienced a dip of -3% in Q3 2023, but showed resilient growth of 8% in Q3 2024.

Other products included home care, baby products, and kitchen essentials, as shown in the graph.

Kantar stated that beauty products continued their highest growth within the FMCG category, indicating promising opportunities for beauty brands to leverage this trend.

"However, beverage sector growth continues to rely on price increases. Other sectors grew slower than the previous year, indicating a recovery in demand and resilience," wrote Kantar in the report cited on Friday, January 17, 2025.

Kantar explained that overall FMCG growth remained around 6%, with a slight recovery driven by volume growth in recent periods.

"This recovery is mainly due to larger trip sizes, without an increase in shopping frequency, highlighting the increased urgency for brands to optimize every shopping opportunity," wrote Kantar.

Kantar assessed that buyer response focused on obtaining better value, particularly by buying in larger quantities. Switching to cheaper products also remained a common coping strategy amidst inflation, which Kantar described as relatively stable.

(See also: Traditional Stores Remain the Largest Sales Channel for FMCG Products in Indonesia)

Editor : Erlina Fury Santika

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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Indonesia's Q3 2023-2024 FMCG Growth; Cosmetics Sector Shows Highest Increase

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