The FMCG industry in India achieved a 10.6% growth in value terms in the December quarter of 2024, driven largely by rural markets, which have surpassed the large urban markets in growth for the fourth consecutive quarter. Festive demand and consumption-driven growth played a key role, with overall volume up 7.1% despite inflationary pressures. However, the industry also saw a 'preference shift of consumers towards smaller packs' due to high food inflation. Local manufacturers continue to outperform larger FMCG companies, fueled by consistent volume growth.