China's fast-moving consumer goods (FMCG) sector remained resilient despite supply chain headwinds and economic downturn pressure caused by COVID-19, according to a recent report.

The sector grew by 3.6 percent year on year during the first three quarters of 2022, according to the report jointly released by Bain & Company and Kantar Worldpanel.

The report analyzed 26 key categories spanning the four largest consumer goods sectors: packaged food, beverages, personal care and home care.

Across the four sectors, packaged food and home care saw the most growth during the period due to pandemic-induced stockpiling and heightened health and hygiene concerns.

Remarkably, over half of the total year-on-year FMCG growth in the first three quarters was attributable to packaged food.

For retail, e-commerce grew at a similar pace as the overall FMCG market, while smaller offline store formats and online-to-offline (O2O) commerce rode on the tailwinds of the epidemic, the report noted.

The value of O2O commerce grew 17 percent in the third quarter over last year as consumers stocked up and purchased necessities.

Convenience stores and grocery stores also gained traction, the report showed.

"Overall, China's FMCG market demonstrated some buoyancy in rough waters, signaling there is hope for the months and years ahead," said Bruno Lannes, senior partner at Bain.

Despite significant uncertainty, there are reasons for FMCG players to be hopeful. China's middle class continues to grow, along with urbanization, the report said.

Adaptable FMCG companies can chart a path toward a healthy performance in 2023 and beyond by adopting a nuanced approach, understanding consumer needs, and building agility into their operations, according to the report.

(Source: Xinhua with edits)