The fast moving consumer goods (FMCG) industry is a rapidly growing and one of the largest among other industries both within and outside Nigeria. With more and more companies springing up everyday; the business opportunities available in this industry are numerous. If you’re thinking of starting a business in the FMCG industry, here are the top 10 selling consumer goods you should probably consider investing in.
So let’s countdown to number one;
#10. Cosmetics and grooming products. The cosmetics and beauty industry is a generally blossoming these days. And so is the market for cosmetic products. From the soap you use to bath, to toothpaste to hair cream, to body cream; the list is endless. The use of cosmetics are unavoidable and that is why the market for cosmetics will continue to expand. Since cosmetics are always in use on a daily basis, manufacturing or distributing cosmetics or grooming products can be a great business opportunity to explore.
#9. Baby care products. Basically the market size for baby products increases daily and so does the potential revenue volumes. With this kind of information, you can set out to become a distributor for a major baby care manufacturer. And if you have enough resources, you can even decide to start up as a baby care product manufacturer.
#8. Laundry and toiletries. Soaps, detergents and toiletries are one of the most commonly used consumer goods. They are very important for our personal upkeep such that they are almost indispensable. When you use the rest room, you need to make use of products like, toilet paper, soap, hand wash, antiseptics, hypo, toilet wash etc. While the profit margin for these products may be relatively low, the high demand rate makes the business a highly profitable venture whether you are looking to go into distribution, sub distribution , or retail business.
#7. Hair care products. The hair care sub sector is currently booming, and is a billion dollar Industry. From hair creams, gel, hair treatment products, shampoos, hair conditioner, hair attachments and hair extensions, the list goes on. This FMCG sub sector is one very lucrative one because of the high demand for hair care products, both among women and also men and children. Nowadays, Nigerian women seek hair products more than ever to create the kind of look that appeals to their fashion style. Thus, hair weavon, hair attachments, hair extensions and wigs( both braided and non-braided) have a very large market share.
And so it is worth going into this business full-scale and expect to reap huge profits from it.
#6. Beverages and soft drinks. Beverages are liquid drinks which include milk, juice, soft drinks, coffee, beer and many others. All these products are in high demand daily. There are so many people who cannot go a day without consuming these products. So these are another group of FMCG products you might want to consider dealing in as a business option and be sure to make a lot of profit.
#5. Potable water. Well, it’s pretty obvious why water is a fast selling consumer good. Water is very important and indispensable as far as our everyday survival is concerned. You could easily explore the possibility of providing and marketing potable water. This can either come in sachet or in bottle form. The water sub sector is pretty saturated at the moment. But still there’ll always be room for more stakeholders due to the large market size.
#4. Household gadgets. Here’s a list of household gadgets and necessities that are in high demand.
- Vacuum cleaner
- Tablet computer
- Hair dryer
- Meat grinder
- Electric razor blade
- Digital camera
- Media player
- Car tape recorder
- GPS navigator etc.
#3. Processed foods. The most demanded in this category are:
Cereals, meat, sausages, bakery, pastries ( like minimie chin chin, Pringles etc), dairy products ( Dano milk etc), pasta, indomie noodles, fish, seafood, vegetables and fruits.
These products have a large market share and thus is worth investing your money in.
#2. Medications and healthcare products. The healthcare sector is very vital for survival, thus medications and healthcare products ( such as supplements etc) are a basic necessity. This industry is highly lucrative, because no one is entirely immune to colds and headaches. Plus your body needs a lot of nutrients that cannot be fully supplied by just eating alone, hence the need for food supplements ( vitamins and minerals). Other stuff like constipation etc may require that one visits a drugstore. So this industry is highly recommended and worth your investment.
#1. Foodstuff. Food is definitely destined for the number one spot as far as fast moving consumer goods are concerned. Food sales; whether in an economic downturn or not will always most certainly take the largest market share. People eat more than twice everyday, and not to mention junk. The wholesale foodstuff business in Nigeria will thus continue to grow and expand. And so, this is the most recommended FMCG for you to dive into headfirst if you seek to make huge returns on your investment.
I hope you found this post interesting?
If you want to be a sub distributor for any of these products;
- Minimie chin chin
- Indomie noodles
- Power oil
- Dano etc
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- Product information
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- Product distribution.