MCG is an essential part of day to day life and accounts for more than half of all consumer spending.
PORTLAND, UNITD STATS, UNITD STATS, September 10, 2020 /INPresswire.com/ — According to the report published by Allied Market Research, the global MCG Market generated $10,621.2 billion in 2018, and is expected to garner $15,361.8 billion by 2025, growing at a CAGR of 5.4% from 2018 to 2025. The report offers a detailed analysis of changing market trends, key segments, top winning strategies, and competitive landscape.
Rise in impact of technology adoption among consumers, changing economic power, and premiumization fuel the growth of the global MCG market. However, accessibility to counterfeit products and retail execution restrain the market growth. On the other hand, advent of MCG e-commerce sector and ease in availability offer new opportunities in the industry.
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Based on type, the food & beverages segment accounted for the highest market share in the market, with nearly nine-tenths of the total market share in terms of revenue in 2018, and is estimated to dominate during the forecast period. However, the healthcare segment is estimated to grow at the highest rate with a CAGR of 8.5% from 2018 to 2025. This is attributed to rise in advent of chronic diseases and exponential advancements in technology.
Based on end user, the supermarkets & hypermarkets segment accounted for more than half of the total revenue of the global MCG market in 2018, and is expected to maintain its pole position during the forecast period. On the other hand, the e-commerce segment is expected to register the largest CAGR of 9.3% from 2018 to 2025, owing to availability of social media platforms that can influence the buying behavior greatly and variations in preferences of consumers.
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Asia-Pacific held the major market share in 2018, accounting for more than one-third of the total market share, and is projected to maintain its lead in terms of revenue by 2025. In addition, this region would grow at the largest growth rate with a CAGR of 8.0% from 2018 to 2025. This is due to significant enhancements in infrastructure and varying eating habits & lifestyle. On the other hand, North America accounted for nearly three-tenths of the total market share in 2018.
Leading market players analyzed in the report include Procter And Gamble, The Coca Cola Company, Johnson & Johnson, Unilever Group, Kimberly-Clark Corporation, Dr Pepper Snapple Group, Inc., Patanjali Ayurved Ltd., Pepsico Co. Inc, Revlon, Inc, and Nestle.
Source: EIN Presswire