The consumer
goods mention to the products bought principally for personal or household
consumption. It involves the products such as clothing, food, books, and
cooking appliances. Customer goods are principally studied around two major
categories in this report, namely FMCG (fast moving consumer goods) and customer
durable.
Armenia is a
landlocked region in the South Caucasus economy of Eurasia. It is a small
market with confident economic growth prospects. The structural reforms and
sound macroeconomic policy in the region allow it to preserve low inflation and
fascinate foreign investments.
According to
the report analysis, ‘Armenia Consumer Goods Market by Product Type (Fast
Moving Consumer Goods and Consumer Durables), and Distribution Channel
(Supermarkets & Hypermarkets, Specialty Stores, E-commerce, and Others):
Opportunity Analysis and Industry Forecast, 2019-2026’
states that in the Armenia consumers goods market there are several companies
which presently operating more significantly for leading the fastest market
growth and registering the handsome value of market share around the globe
throughout the coming duration while decreasing the side effects of the
consumer goods, decreasing the linked prices, growing the usage of the consumer
goods, augmenting the applications of the Armenia consumer goods, implementing
the profitable strategies, spreading the awareness related to the benefits of
the consumer goods, and employing the young work force includes Procter &
Gamble Company, The Coca-Cola Company, PepsiCo, Inc., Nestle S.A., Samsung
Electronics Co., Ltd., LG Electronics Inc., Haier Group Corporation, Panasonic Corporation,
Electrolux AB, Koninklijke Philips N.V. and several others.
The effective
growth in purchasing power parity (PPP) of Armenian consumers has created the
positive impact on the consumption of consumer goods. Armenia's annual
household income per capita stretched USD 1,516.748 in December 2018 from USD
1,453.618 in Dec 2017. Shoppers across the Armenia spend almost USD 100 million
monthly on consumer goods, principally on food and food products. In addition,
the requirement for the expediency goods has obtained the high traction during
recent past. The effective growth in the internet penetration, denser urban populace,
fast pace lifestyles, and challenging working hours are deepening the
involves of the consumer lives. Consumers are continuously opting for the
products which deliver the effectiveness and is time saving. These aspects
cumulatively function a positive impact on the growth of customer goods market
in Armenia. However, the Armenia faces geopolitical conditions with its
neighboring regions. All the goods traded with the Armenia have to pass through
Georgia.
During this procedure,
high transport tariffs are levied, which eventually augments the end price of
the product. Hence, the existence of the trade barriers causes interruption in
the growth of the Armenian consumer goods market.
On the
contrary, the government in Armenia is promised in improving the comprehensive
reforms in the business environment to deliver the promising investments and
business opportunities for worldwide stakeholders. This is envisioned to propel
the international players to Armenia. Enterprises by the government are focused
to reinforce the market scenario, which can be observed as a growth opportunity
for the market players in Armenia.
In addition,
the Armenia consumer goods market by product type and distribution channel:
Opportunity Analysis and Industry Forecast, 2019-2026, the Armenia consumer
goods market size was worth at USD 1,734.5 million in 2018 and is anticipated
to reach USD 2,519 million by 2026, increasing at a CAGR of 4.7% from 2019 to
2026. Therefore, in the coming years, it is predicted that the market of
Armenia Consumer goods will increase around the globe more effectively over the
inflowing years.
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Ken Research
Ankur Gupta, Head Marketing & Communications
+91-9015378249
