Consumers moving up the income ladder are likely to demand more and better-quality branded goods and digital connectivity is likely to drive consumption trends in India, Narayanan said. If you look at any research that has been done, the packaged goods market is clearly set to double in the next five to 10 years," Narayanan told reporters. Citing research, Narayanan said the shift across consumption classes over the course of this decade will be highly favourable for consumer goods companies. “This clearly means that there is going to be an increasing proclivity towards the consumption of packaged goods and also of branded goods of whatever kind during this period," he said. The future workforce of Gen-Z will be 25-20% of the population and this will have a long-lasting impact on future consumption trends, Narayanan said.

Source: Mint February 26, 2021 12:42 UTC