Key Takeaways
- The global consumer goods market reached a value of $14.7 trillion in 2023, projected to grow at a CAGR of 4.8% to $20.1 trillion by 2030.
- In 2022, non-durable consumer goods accounted for 62% of the total consumer goods market, valued at $9.1 trillion globally.
- Durable consumer goods sales grew by 3.2% year-over-year in 2023, reaching $5.6 trillion worldwide.
- US households spent an average of $8,289 on consumer goods in 2022.
- Global average annual consumer spending on goods per capita was $6,450 in 2023.
- In 2023, 45% of US consumer spending went to non-durable goods like food.
- Electronics segment saw $950 billion in global consumer expenditure 2023.
- Food and beverages claimed 55% of non-durable goods sales at $4.5 trillion US 2023.
- Apparel sales volume increased 4.1% globally to 85 billion units in 2023.
- E-commerce penetration for consumer goods reached 24% globally in 2023.
- Amazon captured 37.6% of US e-commerce consumer goods sales in 2023.
- Mobile commerce accounted for 60% of online consumer goods purchases 2023.
- Global sustainable packaging in consumer goods reached 35% adoption 2023.
- 78% of consumers prefer eco-friendly consumer goods brands 2023 survey.
- Recycled plastic in consumer packaging up 22% to 19 million tons 2023.
The global consumer goods market is large, growing steadily, and increasingly focused on sustainability.
Consumer Expenditure
- US households spent an average of $8,289 on consumer goods in 2022.
- Global average annual consumer spending on goods per capita was $6,450 in 2023.
- In 2023, 45% of US consumer spending went to non-durable goods like food.
- Chinese consumers spent $4,500 per capita on goods in 2023.
- European households allocated 28% of budget to consumer goods in 2022.
- Indian consumer expenditure on FMCG rose 9.2% to $450 per capita in 2023.
- Brazilian families spent 35% of income on food and consumer goods in 2023.
- Japanese spending on apparel dropped to 3.1% of total consumer expenditure in 2023.
- UK consumers spent £15,420 annually on goods and services in 2022.
- Millennial spending on consumer goods averaged $12,000 yearly in US 2023.
- Gen Z global spending on personal care goods up 22% to $1,200 per capita 2023.
- Low-income US households spent 52% on food and essentials in 2022.
- High-income households spent 12% on luxury consumer goods in 2023 globally.
- Online goods expenditure accounted for 22% of total consumer spending in 2023 US.
- Inflation-adjusted consumer spending on durables fell 1.2% in EU 2023.
- African urban consumers spent 40% more on goods post-COVID by 2023.
- Middle East consumer spending on electronics up 15% to $150 per capita 2023.
- Canadian households averaged CAD 10,500 on goods in 2022.
- Australian consumer goods spending per capita AUD 9,800 in 2023.
- South Korean spending on beauty goods averaged $450 per person 2023.
- Mexican families spent 32% on food consumer goods in 2023.
- Russian consumer expenditure on non-food goods down 2% in 2023.
- 68% of global consumers increased spending on health goods in 2023.
- Pet-related consumer spending averaged $1,300 per US household in 2023.
- Home entertainment goods spending up 18% among seniors in 2023.
- Global spending on sustainable goods rose to 15% of total in 2023.
Consumer Expenditure Interpretation
E-commerce & Retail
- E-commerce penetration for consumer goods reached 24% globally in 2023.
- Amazon captured 37.6% of US e-commerce consumer goods sales in 2023.
- Mobile commerce accounted for 60% of online consumer goods purchases 2023.
- China e-commerce consumer goods GMV hit $2.1 trillion in 2023.
- Fast fashion online sales grew 15% to $120 billion globally 2023.
- Subscription boxes for consumer goods reached $27 billion revenue 2023.
- Social commerce sales for goods $500 billion worldwide 2023.
- Grocery e-commerce penetration 13% in US consumer market 2023.
- Europe online apparel sales €150 billion in 2023.
- India consumer goods e-retail grew 25% to $50 billion 2023.
- Omnichannel retail influenced 73% of consumer goods purchases 2023.
- Brazil e-commerce consumer goods up 12% to $40 billion 2023.
- Voice commerce for goods projected 8% of e-sales by end 2023.
- Luxury goods online sales 20% of total $220 billion 2023.
- Pet products e-commerce $25 billion global 2023.
- Electronics flash sales drove 30% of online volume Black Friday 2023.
- AR try-on boosted fashion e-sales by 94% conversion 2023 pilots.
- Cross-border e-commerce goods $785 billion 2023.
- UK online grocery sales £20 billion in 2023.
- Sustainable goods e-sales up 71% YoY to $150 billion 2023.
- 55% of consumers used buy-online-pickup-in-store for goods 2023.
- Japan e-commerce consumer goods ¥25 trillion 2023.
- Live streaming commerce $400 billion in China goods 2023.
- US retail foot traffic down 5% but goods sales stable 2023.
E-commerce & Retail Interpretation
Market Size & Growth
- The global consumer goods market reached a value of $14.7 trillion in 2023, projected to grow at a CAGR of 4.8% to $20.1 trillion by 2030.
- In 2022, non-durable consumer goods accounted for 62% of the total consumer goods market, valued at $9.1 trillion globally.
- Durable consumer goods sales grew by 3.2% year-over-year in 2023, reaching $5.6 trillion worldwide.
- The Asia-Pacific consumer goods market expanded by 6.1% in 2023, making it the fastest-growing region at $6.8 trillion.
- US consumer goods retail sales hit $6.5 trillion in 2023, up 2.9% from 2022.
- Europe's consumer goods sector was valued at $4.2 trillion in 2023, with a modest growth of 2.1%.
- China's consumer goods market size reached $5.4 trillion in 2023, driven by rising middle-class spending.
- The global household appliances segment within consumer goods grew to $512 billion in 2023.
- Apparel and footwear consumer goods market valued at $1.7 trillion globally in 2023.
- Personal care products market hit $557 billion in 2023, with 5.3% CAGR projected.
- Food and beverage consumer goods dominated with $8.2 trillion in 2023 sales worldwide.
- Online consumer goods sales reached $2.1 trillion in 2023, 16% of total retail.
- Luxury consumer goods market grew to $1.1 trillion in 2023 post-pandemic recovery.
- India's consumer goods market expanded to $1.2 trillion in 2023, CAGR 7.2%.
- Brazil's consumer goods sector valued at $450 billion in 2023, up 4.5%.
- Japan's consumer goods market stood at $2.1 trillion in 2023, with slow 1.8% growth.
- Middle East consumer goods market reached $320 billion in 2023, driven by UAE and Saudi.
- Africa's consumer goods sales hit $700 billion in 2023, fastest growth at 8.2%.
- Global FMCG market (fast-moving consumer goods) valued at $10.5 trillion in 2023.
- Home improvement consumer goods surged to $850 billion in 2023 amid renovations.
- Toys and games consumer goods market at $105 billion globally in 2023.
- Health and wellness consumer products reached $1.5 trillion in 2023.
- Automotive aftermarket consumer goods valued at $420 billion in 2023.
- Furniture and home furnishings market hit $750 billion worldwide in 2023.
- Sports and leisure goods market grew to $450 billion in 2023.
- Beauty and cosmetics consumer goods at $570 billion in 2023 globally.
- Pet care products market reached $230 billion in 2023, up 7.5%.
- Global confectionery market within consumer goods valued at $220 billion in 2023.
- Alcoholic beverages consumer goods sales at $1.6 trillion in 2023.
- Non-alcoholic drinks market grew to $1.1 trillion in 2023 health trends.
Market Size & Growth Interpretation
Sector-Specific Stats
- Electronics segment saw $950 billion in global consumer expenditure 2023.
- Food and beverages claimed 55% of non-durable goods sales at $4.5 trillion US 2023.
- Apparel sales volume increased 4.1% globally to 85 billion units in 2023.
- Household cleaning products market generated $280 billion revenue in 2023.
- Smartphones within consumer electronics sold 1.15 billion units worldwide 2023.
- Organic food sales reached $200 billion in US consumer market 2023.
- Furniture e-commerce sales hit $250 billion globally in 2023.
- Beauty tools and devices segment grew 12% to $45 billion in 2023.
- Pet food alone accounted for $120 billion in global sales 2023.
- Alcoholic beverages premium segment up 8% to $600 billion 2023.
- Home appliances energy-efficient models 65% market share in EU 2023.
- Toys digital-interactive sales surged 25% to $30 billion 2023.
- Sports apparel performance wear at $180 billion global 2023.
- Health supplements OTC sales $160 billion worldwide 2023.
- Confectionery sugar-free variants 22% of $220 billion market 2023.
- Automotive consumer tires replaced 1.8 billion units globally 2023.
- Luxury handbags sales volume 450 million units 2023.
- Laundry care products liquid detergents 72% market share 2023.
- Wearable tech devices shipped 520 million units in consumer electronics 2023.
- Plant-based food products sales $29 billion US 2023.
- Mattresses and bedding $120 billion global revenue 2023.
- Fragrances prestige segment $55 billion sales 2023.
Sector-Specific Stats Interpretation
Sustainability & Innovation
- Global sustainable packaging in consumer goods reached 35% adoption 2023.
- 78% of consumers prefer eco-friendly consumer goods brands 2023 survey.
- Recycled plastic in consumer packaging up 22% to 19 million tons 2023.
- Zero-waste consumer products sales grew 28% to $15 billion 2023.
- Carbon-neutral certified goods 12% market share in EU 2023.
- Plant-based alternatives captured 9% of meat consumer market 2023.
- Water usage in consumer goods production down 15% industry average 2023.
- 62% of Gen Z willing to pay more for sustainable consumer goods 2023.
- Biodegradable packaging in FMCG up to 25% usage 2023.
- Renewable energy use in consumer factories 42% globally 2023.
- Ethical sourcing verified 68% of apparel consumer goods 2023.
- Food waste reduction initiatives saved 10 million tons in supply chain 2023.
- EV charging accessories as consumer goods sold 5 million units 2023.
- Upcycled materials in products 8% growth to $52 billion 2023.
- 71% reduction target met in plastic virgin use by top brands 2023.
- Organic cotton in apparel 28% increase to 1 million tons 2023.
- AI-driven supply chain cut emissions 18% for consumer firms 2023.
- Refill stations for consumer goods adopted by 15% retailers 2023.
- Biodiversity impact labeling on 20% new products 2023.
- Circular economy models generated $350 billion value in goods 2023.
- Water-positive brands in beverages 40% of market leaders 2023.
- 85% consumers trust sustainability claims if third-party verified 2023.
- Regenerative agriculture in supply 12% coverage for food goods 2023.
Sustainability & Innovation Interpretation
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