Armenia Consumer Goods Market

Global Armenia Consumer Goods Market Size (2024 to 2029)

The global Armenia consumer goods market was valued at USD 1606 million in 2023 and is foreseen to reach USD 2115 million by 2029 from USD 1681 Mn in 2024, progressing with a CAGR of 4.7% from 2024 to 2029.

Current Scenario of the Global Armenia Consumer Goods Market

Consumer goods are mainly explored in two main categories in this report, namely consumer goods and durable consumer goods.

Consumer goods are products purchased primarily for personal or household consumption. It includes items such as clothing, food, books, and kitchen appliances. 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.

MARKET DRIVERS

Purchasing power parity and the growth in demand for everyday consumer goods are primarily propelling the growth 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.

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.

MARKET RESTRAINTS

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.

Impact of COVID-19 on the global 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.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Armenia Consumer Goods Market By Type of Product

The food and beverage segment lead the market with the highest share in terms of revenue. However, the healthcare segment is expected to experience strong market demand during the outlook period.

Durable consumer products are also classified into refrigerators, air conditioners, heaters, entertainment and information appliances, washing machines, kitchen appliances, cleaning appliances, and others. Among the consumer goods, the food and beverage segment lead the market with the highest share of the consumer goods market in Armenia in terms of income, as consumers need it and buy it daily or regularly. However, the healthcare segment is expected to experience high demand in the consumer goods market in Armenia during the forecast period, due to the increase in consumer health awareness. Among the segments of durable consumer goods, the segment of kitchen appliances forms the trends of the consumer goods market in Armenia in terms of revenue.

Global Armenia Consumer Goods Market By Distribution Channel

Among these, the supermarkets and hypermarkets segment dominated the market with the highest share in terms of revenue as the retail business in Armenia gradually shifted from small and medium stores to supermarkets and hypermarkets. The retail trade in Armenia is gradually changing from small and medium stores to large supermarkets and hypermarkets. Therefore, supermarkets and hypermarkets accounted for the largest market share in 2018. However, the e-commerce channel is growing rapidly due to the increasing penetration of the Internet and the convenience of online shopping. The Armenian consumer goods market segment for e-commerce is supposed to experience strong demand during the forecast period of the Armenian consumer goods market as the majority of Armenian households have access to the internet and online platforms such as Amazon, Alibaba Express, and eBay to buy consumer goods such as home appliances, books, personal care products, and others.

KEY MARKET PLAYERS

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 are some of the major players in the global Armenia consumer goods market.

DETAILED SEGMENTATION OF THE GLOBAL ARMENIA CONSUMER GOODS MARKET INCLUDED IN THIS REPORT

This research report on the global Armenia consumer goods market has been segmented and sub-segmented into the following categories.

By Type of Product

• Fast Consumer Goods (FMCG)

• Food And Beverage
• Personal Care
• Health Care
• Home Care

• Durable Consumer Goods

By Distribution Channel

• Supermarkets
• Hypermarkets
• Specialty stores
• E-commerce
• Others

By Region

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa