Armenia Consumer Goods Market was at $ 1,534.5 million in 2020 and is foreseen to reach $ 2,219 million by 2025, progressing with a CAGR of 4.7% from 2020 to 2025.

Consumer goods are products purchased primarily for personal or household consumption. It includes items such as clothing, food, books, and kitchen appliances. Consumer goods are mainly explored in two main categories in this report, namely consumer goods and durable consumer goods.

Fast Consumer Goods (FMCG) is the largest group of consumer goods in terms of production, distribution and marketing. This includes durable and non-durable goods such as food and drink, personal care, health care, and household products.

FMCG products are needed every day in human life. All sectors of society frequently consume these products and spend a significant portion of their income on these products. The FMCG product group is a major contributor to the economy as these products have rapid turnover.

COVID-19 impact on Armenia Consumer Goods Market:

The consumer goods industry has taken its toll during the coronavirus pandemic around the world. Globally, major brand hypermarkets, supermarkets and showrooms have been closed, impacting sales of various consumer electronics products. That said, a few green shoots are visible. Due to the implication of the measures as part of the lockdown, companies around the world have embraced remote working as a tool to continue their business processes.

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Market Growth and Trends:

Purchasing power parity and the growth in demand for everyday consumer goods are the main drivers of the global Armenian consumer goods market. However, strong monopolies in certain industries, price-sensitive customers, and the presence of trade barriers hamper the growth of the market. On the contrary, government initiatives to encourage newcomers and investment, as well as the adoption of e-commerce, are expected to create lucrative opportunities in the near future.

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Market Drivers and Restraints:

The increase in purchasing power and the rise in disposable income have stimulated the demand for products in the Armenian consumer goods market. Consumers choose products that offer convenience, efficiency, and time savings. With the increase in the workforce, these products tend to achieve higher demand. In addition, fast consumer goods (FMCG) are relatively inexpensive, fragile, perishable by nature, and readily available because they sell out quickly. These factors are likely to boost the global Armenian consumer goods market.

However, the Armenian economy is made up of monopolies / oligarchies, which hinders the proper functioning of the market. This leads to market distortions, abuse of market power, persistent barriers to entry into the market and the lack of economic competition for goods and services. In addition, the complex Eurasian Economic Union (UEE) standardization system is very redundant. This creates significant obstacles in relations with the customs authorities of Armenia and hinders the trade process.

Armenia Consumer Goods Market segmentation:

The Armenian consumer goods market is segmented according to

Product Type
Fast Consumer Goods (FMCG) and Durable Consumer Goods.
Food and beverage
Personal care
Health care
Home care
Distribution channel
Hypermarkets
Specialty stores
E-commerce
Others
Key market players:

The main players in the Armenia consumer goods industry are Procter & Gamble Company, The Coca-Cola Company, PepsiCo, Inc., Nestlé SA, Samsung Electronics Co., Ltd., LG Electronics Inc., Haier Group Corporation, Panasonic Corporation, Electrolux AB and Koninklijke Philips NV.