Amidst the covid gloom, there has been encouraging news🙂 on the industrial front.
With consumer demand back to pre-COVID levels, large consumer goods companies such as Parle, Dabur, HUL, ITC, Marico are now expanding↗️ their production capacities beyond the pre-covid levels.
It comes on the back of rising demand for their food and hygiene products as consumers continue to stock up🛒 on them during the pandemic.
This is leading to a near stock-out of such goods😳 in the market, thus forcing the companies to invest in increasing their production capabilities.
Sales going through the roof
Parle Products, the country’s largest food firm, is increasing its production capability by 25% over usual times.
Notably, the company recently reported that the lockdown period was the best period😎 in its history in terms of sales.
HUL, the country’s biggest consumer goods firm, is also looking to enhance its capacity in view of the surging demand from its customers for its hand wash🧴, sanitizers, flooring cleaners, hygiene and food products.
The company is already working at 90% of its usual production capacity.
Meanwhile, Dabur has seen a phenomenal 400% rise📈 in demand for its ‘immunity booster’ product, chyawanprash.
The demand for its honey has also risen by 80%.
Similarly, ITC and Marico have also seen a surge in demand for their offerings that include biscuits, instant noodles🍜, snacks, edible oils and other food merchandise.
Will need to adapt
As the majority of the industrial sector is now facing an acute labour shortage😣, FMCG firms will not only need to add more assembly lines but also run more shifts and introduce automation🤖.