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Top 10 FMCG companies in India by market cap

The top fast-moving consumer goods or FMCG companies in India are integral to India’s consumer economy. The FMCG list of products includes toothpaste, packaged foods, and detergents – any product that people use daily and frequently.

FMCG stocks attract investors for their stability and consistent demand. FMCG stocks are considered defensive stocks because they tend to be less sensitive to economic downturns, as people continue to buy these essential items regardless of the economic situation.

In this article, we’ll delve into the top FMCG companies in India, understanding how their growth is tied to the value they provide.

understanding how their growth is tied to the value they provide.

Top FMCG companies in India in 2024

Here’s a table showcasing the top FMCG companies in India as of January 10, 2024, ranked by their market caps.

RankFMCG Company NameMarket Cap (in INR, Lakh Crore)
1Hindustan Unilever Limited (HUL)6.05
2ITC Limited5.78
3Nestle India Limited2.48
4Varun Beverages Limited (VBL)1.65
5Britannia Industries Limited1.22
6Godrej Consumer Products1.16
7Tata Consumer Product1.03
8Dabur India Limited0.973
9United Spirits0.814

Now, it’s time for a closer look at the top FMCG companies in India.

Hindustan Unilever Limited (HUL)

  • Founded on: October 17, 1933
  • CEO: Rohit Jawa

With its extensive product portfolio spanning personal care, home care, and food, one does not have to wonder why HUL is still one of the top FMCG companies in India. Iconic brands of HUL like Lux, Dove, Surf Excel, and Knorr have earned unwavering consumer trust and loyalty.

The success of HUL can be attributed to its consistent focus on delivering high-quality products, coupled with its brilliant marketing strategies.

ITC Limited

  • Founded on: August 24, 1910
  • CMD: Sanjiv Puri

ITC has retained its position as one of the top FMCG companies in India due to its diversified business portfolio. You can find ITC everywhere, from consumer goods to hotels, agri-business, paperboards, packaging and more, making it a conglomerate with a significant presence in India. This diversification provides stability and reduces dependency on a single industry, contributing to overall business resilience.

Nestle India Limited

  1. Founded on: March 28, 1959
  2. CMD: Suresh Narayanan

Nestle India is known for its strong focus on nutrition and wellness, producing a wide array of food and beverage products. Nestle India has a diverse product range from baby food to Maggi noodles to Kit Kat chocolates, which have become synonymous with trust and taste.

The ability of Nestle India to resonate with the evolving preferences of Indian consumers and the consistent innovation in its product offerings have been key drivers of its success. For example, Maggi’s various flavours have kept it relevant.

Varun Beverages Limited (VBL)

  • Founded on: June 16, 1995
  • CEO: Kapil Agarwal

Among all the top FMCG companies in India, VBL stands out as one that has experienced the most meteoric rise in recent years. The rise of VBL is attributed to its strategic partnership with PepsiCo, allowing it to distribute PepsiCo beverages across multiple countries and contributing to its international reach. VBL also has a diverse product portfolio, ranging from carbonated drinks to fruit juices, solidifying its position by catering to various consumer preferences.

Britannia Industries Limited

  • Founded in: 1892
  • CEO: Rajneet Singh Kohli

Britannia is distinguished by its heritage and long-standing presence in India, offering a range of beloved biscuits and bakery products since 1892. The success of Britannia can be attributed to its iconic product range, especially biscuits like Good Day and Tiger biscuits, which have been a staple in Indian households for generations. Britannia is also quick to adapt to the evolving market trends. Cashing on the new demand for millets, Britannia launched Millet bread to tap into the market as coarse grain is making a solid comeback.

Godrej Consumer Products

  • Founded in: April 2001
  • CEO: Sudhir Sitapati

Over the years, Godrej has built substantial brand equity and consumer trust. The Godrej name is associated with quality and reliability. This trust factor has helped GCPL establish a loyal customer base. Godrej has expanded its presence internationally, contributing significantly to its growth. This global expansion strategy has also allowed Godrej to learn from different markets and apply successful strategies across regions.

Tata Consumer Product Limited

  • Founded in: 1962
  • CEO: Sunil A. D’Souza

Tata Consumer Product distinguishes itself through its association with the Tata Group, as the Tata name is synonymous with ethical practices, quality, and consumer-centric values, fostering trust and loyalty. Tata Consumer Product has a  diverse product portfolio, including brands like Tata Tea, Tetley, Tata Salt, and Tata Sampann, which cater to a wide market. The FMCG list of products of Tata Consumer Product has been a constant in Indian households.

Notably, Tata Consumer is in talks to acquire 51% shares of Haldiram’s.

Dabur India Limited

  • Founded in: 1884
  • CEO: Mohit Malhotra

Dabur stands out for its expertise in Ayurvedic and natural healthcare products, catering to the growing demand for natural and traditional remedies. Dabur has a wide-ranging portfolio featuring products like Dabur Chyawanprash, Vatika hair oil, and Real fruit juices, which have garnered trust and loyalty among Indian consumers. Dabur’s commitment to delivering high-quality herbal products aligned with traditional wisdom has been a driving force behind its success.

United Spirits Limited (USL)

  • Founded in: 1826
  • CEO: Hina Ragarajan

United Spirits is a subsidiary of Diageo, a global leader in alcoholic beverages. The FMCG list of products from United Spirits includes well-known spirits and alcoholic beverages, including iconic brands like McDowell’s No. 1, Royal Challenge, and Signature. United Spirits has an extensive portfolio covering various spirits categories, making it a dominant player in the Indian market. United Spirits is also leading the way in empowering women leaders, arranging special night shifts and establishing partnerships with cab services to ensure the safety and well-being of female employees.


  • Founded on: April 2, 1990
  • CEO: Saugata Gupta

Marico has a diverse portfolio of brands that cater to different consumer needs. Some of their well-known brands include Parachute, Saffola, Hair & Care, and Livon. This diversified brand portfolio allows them to tap into various consumer segments and market niches. Marico places a high emphasis on quality assurance and product consistency. Their stringent quality control measures ensure that consumers can trust their products. Marico has also been one of the front runners in fostering a diversity-conscious, diversity-ready, and socially inclusive workplace.


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