Thanks Daron it did give me an idea.
Here what I come up with the idea.
function is_field_group_exists($value, $type='post_title') {
$exists = false;
if ($field_groups = get_posts(array('post_type'=>'acf-field-group'))) {
foreach ($field_groups as $field_group) {
if ($field_group->$type == $value) {
$exists = true;
}
}
}
return $exists;
}
Anyone can use the function for checking if field group exist.