What is the current size and annual growth rate of the artificial intelligence (ai) in fast-moving consumer goods (fmcg) and retail market?
The artificial intelligence (AI) in fast-moving consumer goods (fmcg) and retail market size has grown exponentially in recent years. It will grow from $152.06 $ billion in 2024 to $190.34 $ billion in 2025 at a compound annual growth rate (CAGR) of 25.2%. The growth in the historic period can be attributed to increasing demand for personalized shopping experiences, rise in e-commerce, increasing investment in AI and machine learning, growth in mobile commerce, and rise in use of chatbots.
The artificial intelligence (AI) in fast-moving consumer goods (fmcg) and retail market size is expected to see exponential growth in the next few years. It will grow to $461.43 $ billion in 2029 at a compound annual growth rate (CAGR) of 24.8%. The growth in the forecast period can be attributed to growing online retail channels, growing focus on AI for demand forecasting, increasing application of AI for real-time demand sensing, increasing deployment of AI for enhanced fraud detection, and growing adoption of AI for personalized marketing campaigns. Major trends in the forecast period include technological advancements, real-time customer service, dynamic pricing, visual recognition, and voice commerce.
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Which major factors have contributed to the expansion of the artificial intelligence (ai) in fast-moving consumer goods (fmcg) and retail market?
The growing demand for online shopping is expected to propel the growth of artificial intelligence (AI) in fast-moving consumer goods (FMCG) and retail markets going forward. Online shopping is purchasing goods or services over the Internet through e-commerce websites or mobile applications, allowing consumers to browse, compare, and order products from the comfort of their homes. The growing demand for online shopping is driven by convenience, a more comprehensive product selection, competitive pricing, and the increasing prevalence of mobile devices and digital payment options. AI in FMCG and retail is used for online shopping by personalizing recommendations, optimizing pricing, enhancing search functionality, providing customer support through chatbots, managing inventory, detecting fraud, analyzing customer behaviour, tailoring marketing campaigns, enabling visual search, and forecasting trends to improve the overall shopping experience. For instance, in May 2024, according to the Census Bureau of the Department of Commerce, a US-based government body responsible for producing data about the nation’s people and economy, retail e-commerce sales for the first quarter of 2024 increased by 2.1% from the fourth quarter of 2023. For instance, in September 2022, according to the International Trade Administration, a US-based government agency, consumer e-commerce accounts for over $120 billion in annual sales and represents 30% of the UK’s total retail business. Therefore, the growing demand for online shopping drives the growth of the artificial intelligence (AI) in fast-moving consumer goods (FMCG) and retail markets.
How is the artificial intelligence (ai) in fast-moving consumer goods (fmcg) and retail market segmented?
The artificial intelligence (AI) in fast-moving consumer goods (fmcg) and retail market covered in this report is segmented –
1) By Component: Hardware, Software, Services
2) By Technology: Machine Learning, Natural Language Processing (NLP), Computer Vision
3) By Application: Customer Service And Support, Sales And marketing, Inventory Management, Supply Chain Optimization, Other Applications
Subsegments:
1) By Hardware: AI-Powered Point of Sale (POS) Systems, Smart Shelves And Inventory Management Systems, Robotics For Automated Stock Management, Facial Recognition Cameras For Customer Insights, IoT Devices For Supply Chain Monitoring, Digital Signage And Interactive Kiosks
2) By Software: AI-Driven Customer Relationship Management (CRM) Software, Predictive Analytics For Demand Forecasting, Inventory Optimization Software, AI-Powered Recommendation Engines, Natural Language Processing (NLP) For Customer Feedback Analysis, Price Optimization And Dynamic Pricing Tools, Supply Chain Management Software With AI Capabilities
3) By Services: AI Integration And Implementation Services, Consulting Services For Retail Strategy And Digital Transformation, Training Services For AI Tools And Technologies, Managed Services For AI Systems And Infrastructure, Customer Insights And Analytics Services, market Research And Consumer Behavior Analysis Services, Post-Implementation Support And Maintenance Services
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Who are the top competitors in the artificial intelligence (ai) in fast-moving consumer goods (fmcg) and retail market?
Major companies operating in the artificial intelligence (AI) in fast-moving consumer goods (FMCG) and retail market are Walmart Inc., Google LLC, Microsoft Corporation, Nestlé S.A., PepsiCo Inc., Procter & Gamble Co., Amazon Web Services Inc., Intel Corporation, International Business Machines Corporation, Oracle Corporation, L’Oréal S.A., SAP SE, NVIDIA Corporation, Salesforce Inc., Colgate-Palmolive Company, Sephora Inc., Zebra Technologies Corporation, Blue Yonder, Talkdesk Inc., Everseen Ltd., RetailNext Inc., TruRating Ltd
Which key trends are expected to influence the artificial intelligence (ai) in fast-moving consumer goods (fmcg) and retail market in the coming years?
Major companies operating in the artificial intelligence (AI) in fast-moving consumer goods (FMCG) and retail markets are focused on developing innovative solutions, such as AI-powered open commerce, to enhance customer experience, streamline operations, and optimize supply chain management, enabling retailers to meet evolving consumer demands more efficiently. AI-powered open commerce refers to a digital commerce model that leverages artificial intelligence to create personalized, seamless shopping experiences across multiple platforms and touchpoints while optimizing inventory, pricing, and customer engagement strategies in real-time. For instance, in August 2024, RedCloud Technology, a UK-based technology company specializing in digital transformation solutions for the retail sector., launched Red101, an AI-powered open commerce network designed to transform e-commerce for millions of distributors and small businesses. This innovative platform addresses supply chain inefficiencies, promoting fairer, more transparent, and secure trading for smaller retailers. Additionally, it helps combat counterfeit goods, empowering small-to-medium-sized businesses (SMBs) to compete more effectively with e-commerce giants like Amazon. Red101 connects fast-moving consumer goods (FMCG) brands, distributors, and local merchants in emerging markets.
Which regional trends are influencing the artificial intelligence (ai) in fast-moving consumer goods (fmcg) and retail market, and which area dominates the industry?
North America was the largest region in the artificial intelligence (AI) in fast-moving consumer goods (FMCG) and retail market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the artificial intelligence (AI) in fast-moving consumer goods (FMCG) and retail market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Artificial intelligence (AI) In Fast-Moving Consumer Goods (FMCG) And Retail Market Report 2025 Offer?
The artificial intelligence (ai) in fast-moving consumer goods (fmcg) and retail market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Artificial Intelligence (AI) in fast-moving consumer goods (FMCG) and retail refers to applying advanced algorithms and machine learning technologies to enhance various aspects of the FMCG and retail sectors. They are used for optimizing supply chain management, predicting consumer preferences, personalizing marketing strategies, managing inventory efficiently, and improving customer service through chatbots and virtual assistants.
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