贝恩公司与纽锐拓消费者指数今日联合发布《2026年中国购物者报告，系列一》。报告指出，随着中国消费者更加追求质价比，叠加人口结构变化与渠道演进，中国快速消费品市场正在经历结构性调整。这是双方连续第15年合作追踪中国快速消费品市场并发布相关报告。

数据显示，2025年中国城镇快速消费品总支出小幅增长0.9%，其中销量同比增长3.6%，但平均售价同比下降2.6%。到2026年一季度，尽管销量延续增势，同比增长1.3%，但销售额却同比下降1.3%。不过，2026年4月数据显示，快速消费品销售额已出现回升迹象，重新回到正增长区间，这表明年初增长放缓可能受到节假日季节性因素的短期扰动。

报告指出，中国正从长期的人口与收入高速增长周期，迈入增速趋缓、发展更为成熟的新阶段，同时面临消费平替趋势加剧、消费者更趋谨慎等多重挑战。预计2026年市场走势将与2025年大体相近，维持低位增长。与此同时，消费者的人口结构与家庭形态持续演变，也将深刻影响未来十年快速消费品行业的增长动能与发展路径。

数据显示，当前中国60岁及以上人口已达3.2亿左右，一人户占家庭总数的近四分之一。在这些结构性变化的推动下，消费者愈发追求质价比；同时也对品牌商的产品创新、包装规格策略、价格体系搭建及渠道通路选择产生了显著影响。

对此，贝恩公司资深全球合伙人、大中华区消费品及零售业务主席邓旻表示：“中国快速消费品市场的变化，折射出整个消费市场正在进入重构调整的新阶段。人口结构演变、消费者更重视质价比，以及渠道生态的快速变化，正在共同改写消费者的购物习惯和决策链路，也在重塑行业的增长逻辑。对于品牌商而言，真正的挑战不只是应对变化本身，而是能否更敏锐地捕捉到变化中的消费者需求，并据此及时调整战略、把握新的增长机遇。”

三至五线城市和熟龄家庭逐步成为增长的核心力量

2025年，一线城市快速消费品销售额增速放缓，局部出现轻微下滑；相比之下，四、五线城市成为市场增量的重要来源。这些市场受益于城镇化的稳步推进，以及现代零售业态与数字化渠道的持续下沉布局，商品供给的种类更加丰富，购物的便利性也大幅提升。

三至五线城市中的熟龄家庭，其快速消费品支出增速显著高于一二线城市的年轻家庭。与此同时，五线城市的有孩家庭同样贡献突出：即便在更加重视质价比的消费环境中，这一群体的消费强度更高，愿意优先保障与子女相关的日常快速消费品需求。

在四大快速消费品类目中，包装食品类目在2026年一季度表现最为稳健，销售额增长1.0%，受益于日常家庭消费需求，以及部分品类主打便捷食用、健康养生和悦己享受等消费卖点。饮料市场销售额同比下降2.9%，主要受到消费平替趋势延续和渠道竞争加剧影响。个人护理类目表现分化，整体销售额下降1.4%；家庭护理类目销售额同比下降3.0%，降幅最大。在经历一季度的波动表现后，2026年4月快速消费品市场价格下行压力已有所缓解，其中包装食品类目的平均售价重回正增长，饮料和家庭护理类目的平均售价降幅也有所收窄。

新渠道与零售商重塑增长格局

渠道方面，电商持续扩大市场份额，2025年占城镇快速消费品市场销售额的比例攀升至38%。线下渠道依然重要，但各类线下业态的功能定位持续变化：大卖场渠道规模持续收缩，而新兴业态则快速扩张。

O2O在经历两年波动调整后，于2025年迎来明确转折。2025年三季度，中国城镇快速消费品 O2O 销售额同比增长接近8%，背后既有配送提速、主流平台协同促销的推动，也有参与品类从传统生鲜拓展到更广泛的快速消费品品类的原因。

尽管传统线下零售渠道整体承压，但仍有三类线下业态保持增长。仓储会员店凭借质优价美的产品获得消费者青睐，实现强势增长；量贩零食店持续快速扩张，在低线城市的表现尤为突出；折扣店则在高频刚需和囤货消费场景中变得愈发重要。

本土品牌实现份额增长的品类多于份额下滑的品类，尤其在那些本土玩家能够结合本地消费者洞察、快速创新周期和高质价比主张的品类中表现更为明显。

与此同时，自有品牌正成为零售商日益重要的战略抓手，帮助零售商更清晰地传递价值主张，打造差异化竞争优势。2025年，自有品牌的销售额同比增长超过57%，达到327亿元人民币，占中国城镇快速消费品总销售额的2%左右。

贝恩公司资深全球合伙人布鲁诺（Bruno Lannes）表示：“O2O、仓储会员店、量贩零食店和折扣店等新兴业态，正在重塑消费者满足不同消费场景需求的方式。对品牌商而言，未来增长不再适用于‘一刀切’的打法，而在于精准识别不同消费场景下的购物需求，制定更有针对性的产品、价格和渠道策略。”

纽锐拓消费者指数中国区总经理李嵘表示：“家庭希望把每一分钱都花得更值，但追求质价比并不意味着消费者只会选择最低价。今天的消费者，一边精打细算地选择产品、门店及渠道，一边也愿意为真正有差异化价值的产品买单。对品牌商来说，未来真正重要的，不是单纯卷价格，而是读懂消费者在变化中如何取舍、为何买单，才是实现可持续增长的关键。”

报告同时指出，中国快速消费品市场的创新程度依然十分活跃。2022年至2025年间，新SKU占总SKU的比例始终维持在40%左右；但从创新效率看，在2024年上市的新品中，仅有3.9%在上市后第一年内的渗透率达到或突破1%。

贝恩建议，品牌商想要在当前环境中实现增长，需要围绕升级后的“C.O.R.E. ”战略框架（需求体系、产品组合、渠道通路、落地执行）重塑增长策略。具体而言，品牌商需要重新锚定以质价比为导向的需求体系（Circumstance）；设计性价比更高、更贴合本地需求的产品组合（Offerings）；根据诉求和经济效益选择渠道通路（Route）；并在低增长、高波动的市场环境中推进落地执行（Execute），提高韧性。

点击下方报告名称或右上角PDF按钮下载

中文版：《2026年中国购物者报告，系列一》

English Version：《China Shopper Report 2026, vol. 1》

China's fast-moving consumer goods (FMCG) market is being reshaped by value-seeking shoppers, demographic change and channel evolvement, according to the 15^th China Shopper Report 2026, Vol. 1, jointly released by Bain & Company and Worldpanel by Numerator.

In 2025, total FMCG spending in urban China increased by a modest 0.9%, supported by 3.6% volume growth and offset by a 2.6% decline in average selling price (ASP). By Q1 2026, FMCG value declined 1.3% year on year even as volume continued to grow by 1.3%. However, data from April 2026 shows signs of FMCG value returning to positive growth – suggesting that early-year weakness may have been amplified by the holiday season.

The report finds that China is moving from a long period of rapid population growth and rising income into slower growth, with deflationary pressure and weaker confidence. Outlook for 2026 is likely to remain similar to 2025, growing at low single digits. At the same time, the demographic and household profile of consumers is changing in ways that will define where and how FMCG growth appears over the next decade.

Around 320 million people are now aged 60 or above, while singles account for roughly a quarter of households. Together, these structural shifts underpin the value-seeking behavior observed across the FMCG market and carry significant implications for innovation, pack and format strategy, pricing architecture and route-to-market choices.

"China's FMCG market reflects broader changes taking place across the country’s consumption landscape," said Derek Deng, head of Bain & Company’s Consumer Products and Retail practice in Greater China. "As China moves from a long period of rapid population growth and rising income into slower growth, demographic change, value-seeking behavior, and channel dynamics are becoming increasingly important drivers of how consumers shop and where growth comes from. The challenge for brands is understanding these changing consumer needs and how they are reshaping the market."

Growth increasingly comes from lower-tier cities and older households

Tier 1 cities recorded low or slightly negative FMCG value growth in 2025, while Tier 4 and Tier 5 cities accounted for a disproportionate share of incremental FMCG value. These markets benefited from ongoing urbanization and the continued rollout of modern retail and digital channels, which expanded assortment and access.

Mid-life and older households in lower-tier cities increased their FMCG spending faster than younger households in top-tier markets. Families with children also played an outsized role in Tier 5 cities, reflecting higher consumption intensity and continued willingness to prioritize child-related everyday FMCG needs despite a value-seeking environment.

Across the four major FMCG sectors, packaged food remained the most resilient major category in Q1 2026 (+1.0%), supported by everyday household needs and selected propositions around convenience, health and small indulgence. Beverage continued to struggle (-2.9%) amid persistent price deflation and heightened channel competition, while personal care showed a mixed picture (-1.4%) and home care weakened most sharply (-3.0%). Pricing pressure showed signs of moderation in April 2026, with packaged food returning to positive ASP growth and declines narrowing in beverage and home care.

New channels and retailer power redefine how growth is captured

E-commerce continued to gain share and accounted for 38% of urban FMCG spending in 2025. Offline channels remained important but continued to rebalance, with hypermarkets losing share while newer formats expanded rapidly.

Online-to-offline (O2O) marked a clear turning point in 2025 after two volatile years. In Q3, total urban FMCG O2O value grew by almost 8% year on year, helped by faster delivery services, coordinated promotions across major platforms and the broadening of category participation beyond fresh produce into a wider range of FMCG categories.

Three offline formats continued to grow even as much of traditional offline retail remained under pressure. Membership clubs gained traction as shoppers sought quality at attractive value. Snack collection stores continued to scale rapidly, particularly in lower-tier cities, while discount stores gained relevance for high-frequency essentials and stock-up occasions.

Domestic players gained share in more categories than they lost, particularly in categories where local players have been able to combine local consumer insight, fast innovation cycles and value-for-money propositions.

Private labels (or own brands) are becoming an increasingly important strategic lever for retailers, helping them make value more visible and build differentiated propositions. In 2025, private labels reached roughly 2% of total FMCG sales in urban China, with private-label FMCG spending growing over 57% to RMB 32.7 billion in 2025 compared to 2024.

"O2O, membership clubs, snack collection stores and discount stores are reshaping how shoppers fulfill different missions," said Bruno Lannes, senior partner at Bain & Company. "Brands can no longer take a one-size-fits-all approach to growth. They need to understand the different occasions consumers are shopping for, and ensure that products, pricing and channel strategies are tailored to those needs."

"Households continue to look for ways to manage regular expenses, but value-seeking does not necessarily mean choosing the lowest price," said Rachel Lee, General Manager of Worldpanel by Numerator China. "We see shoppers managing spending through product choice, store choice and channel choice, while still selectively trading up when they perceive clear benefits. Understanding these changing behaviors is becoming increasingly important for brands seeking sustainable growth."

The report also finds that innovation remained highly active in China FMCG, with new SKUs consistently accounting for close to 40% of total SKUs from 2022 to 2025, yet among 2024 launches, only 3.9% achieved at least 1% penetration in the first year after launch.

To win in this environment, Bain recommends that brands reframe their growth agenda around an updated CORE framework: Circumstances, Offerings, Routes and Execution. Brands need to re-anchor on value-seeking circumstances, design offerings that deliver more value and local relevance, choose routes that match missions and economics, and execute for resilience in a low-growth, high-volatility market.