FMCG market charts new growth path

THE fast-moving consumer goods (FMCG) market in China is entering a structurally slower but more complex growth phase, as value-seeking behaviour, demographic ageing and rapid channel disruption reshape how households spend, according to an industry report.

The findings in the 2026 China Shopper Report — tracking the evolution of urban FMCG consumption jointly by Bain & Company and Worldpanel by Numerator — portray a market that is no longer driven primarily by income expansion or population growth, but instead by reallocation of demand across cities, age groups and retail formats.