Consumer packaged goods market reaching USD 3,171.11-bn

The size is expected to reach USD 3,171.11-billion by 2032. Consumer packaged goods are goods that the typical consumer consumes daily, such as food, beverages, and household supplies and makeup. A report by Towards Packaging.

05 Feb 2024 | By Abhay Avadhani

CPG manufacturers face challenges securing coveted shelf space within retail establishments

Interconnected markets are driving consumer packaged goods companies to explore international opportunities.

Consumer packaged goods (CPG), from food and beverages to personal care items, constitute essential and routine consumer purchases, driving demand.

The perishable nature of many CPG goods and the routine consumption patterns necessitates regular replenishment, ensuring a continuous market demand.

The spectrum of CPG offerings, including food, clothing, cosmetics, and household items, caters to a range of consumer needs, expanding market reach.

Shifting consumer preferences and evolving lifestyles influence the types of CPG products in demand, prompting innovation and adaptation by manufacturers.

North America's CPG industry commands a USD two trillion valuation.

The consumer packaged goods (CPG) industry remains a cornerstone of North America's economic landscape, boasting a valuation of around USD two trillion. Industry leaders, including companies like Coca-Cola, Procter & Gamble, and L'Oréal, play roles in shaping this sector's trajectory.

Despite healthy profit margins, CPG manufacturers face challenges securing coveted shelf space within retail establishments. To maintain and expand market share, these companies allocate resources to advertising, aiming to enhance brand recognition and drive sales.

2023 Top 10 consumer goods companies

2023 rank

Company
 

2022 net revenue in USD

One year sales growth

1

Nestlé SA

99.32-billion

3.78%

2

PepsiCo

86.392-billion

8.70%

3

LVMH Moët Hennessey Louis Vuitton

84.677-billion

23.28%

4

Procter & Gamble

80.187-billion

5.35%

5

JBS SA

72.609-billion

11.73%

6

Unilever NV

63.293-billion

2.01%

7

Anheuser-Busch InBev

55.786-billion

6.41%

8

Tyson Foods

53.282-billion

13.25%

9

Nike

46.71-billion

4.88%

10

Coca-Cola

43.005-billion

11.25%

Latest Poll

Which is the sustainable packaging product among MSMEs that is most popular?

Results

Which is the sustainable packaging product among MSMEs that is most popular?

Bagasse and biodegradable boxes

 

22.22%

Corrugated boxes

 

44.44%

Paper bags

 

33.33%

Recyclable plastic (bubble wraps, bio-plastic)

 

0%

Total Votes : 9

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