Key Takeaways
- The global consumer packaged goods (CPG) market size was valued at approximately $2.2 trillion in 2023 and is projected to reach $2.9 trillion by 2030, growing at a CAGR of 4.1%.
- In 2023, North America accounted for 35% of the global CPG market revenue, totaling over $770 billion.
- The Asia-Pacific CPG market grew by 6.2% in 2023, driven by rising disposable incomes in China and India.
- 62% of global consumers in 2023 reported increasing their purchases of sustainable CPG products.
- 78% of U.S. shoppers in 2023 prioritized health and wellness attributes in CPG purchases.
- Plant-based food sales in CPG grew 27% year-over-year in 2023, reaching $8.1 billion in the U.S.
- Procter & Gamble reported $82 billion in global CPG revenue for fiscal year 2023.
- Unilever's CPG sales reached €60.1 billion in 2023, with 4.5% underlying growth.
- Nestlé's CPG revenue was CHF 93 billion in 2023, led by pet care and coffee segments.
- Global CPG supply chain disruptions cost the industry $1.5 trillion in lost revenue from 2020-2023.
- 68% of CPG companies in 2023 reported inventory shortages due to logistics issues.
- Average CPG lead time increased by 25% globally in 2023 compared to 2019.
- 89% of CPG companies committed to net-zero emissions by 2050 in 2023.
- Recycled content in CPG plastic packaging reached 12% globally in 2023.
- CPG water usage per unit produced dropped 15% industry-wide from 2018-2023.
The global CPG market is steadily growing and increasingly focused on sustainability.
Brand Performance
- Procter & Gamble reported $82 billion in global CPG revenue for fiscal year 2023.
- Unilever's CPG sales reached €60.1 billion in 2023, with 4.5% underlying growth.
- Nestlé's CPG revenue was CHF 93 billion in 2023, led by pet care and coffee segments.
- Coca-Cola's global beverage CPG sales hit $45.8 billion in 2023.
- PepsiCo generated $91.5 billion in CPG revenue in 2023, with snacks up 9%.
- Colgate-Palmolive's worldwide CPG sales were $19.5 billion in 2023.
- Kimberly-Clark's CPG net sales reached $20.4 billion in 2023.
- Reckitt Benckiser reported £14.6 billion in CPG turnover for 2023.
- General Mills' CPG net sales were $20.1 billion in fiscal 2024 (ending May 2023).
- Kellogg's CPG sales totaled $15.3 billion in 2023 before spin-off.
- Johnson & Johnson's CPG revenue was $22.5 billion in 2023 from consumer health.
- Mondelez International reported $36 billion in CPG sales for 2023.
- Danone's CPG sales reached €27.6 billion in 2023, with essential dairy up 5%.
- Estée Lauder's CPG beauty sales were $15.9 billion in fiscal 2023.
- Clorox Company's CPG net sales hit $7.4 billion in fiscal 2023.
- Hormel Foods CPG revenue was $12.1 billion in fiscal 2023.
- Church & Dwight's CPG sales reached $5.8 billion in 2023.
- Edgewell Personal Care CPG sales were $2.3 billion in fiscal 2023.
- Campbell Soup Company's CPG sales totaled $9.4 billion in fiscal 2023.
Brand Performance Interpretation
Consumer Trends
- 62% of global consumers in 2023 reported increasing their purchases of sustainable CPG products.
- 78% of U.S. shoppers in 2023 prioritized health and wellness attributes in CPG purchases.
- Plant-based food sales in CPG grew 27% year-over-year in 2023, reaching $8.1 billion in the U.S.
- 45% of millennials in 2023 preferred CPG brands with transparent sourcing practices.
- Online grocery shopping for CPG items increased by 15% among Gen Z in 2023.
- 71% of consumers worldwide in 2023 were willing to pay a premium for eco-friendly CPG packaging.
- Impulse buying of snacks in CPG dropped 8% in 2023 due to inflation pressures.
- 56% of parents in 2023 sought allergen-free CPG products for children.
- Subscription models for CPG grew 22% in adoption among U.S. consumers in 2023.
- 39% of consumers in 2023 switched to cheaper CPG alternatives due to economic uncertainty.
- 67% of consumers aged 18-34 in 2023 discovered CPG products via social media.
- Value-seeking behavior led 52% of CPG shoppers to trade down in 2023.
- Functional beverages in CPG saw 12% consumption increase among adults in 2023.
- 61% of women in 2023 prioritized clean-label CPG ingredients.
- Home delivery for CPG groceries rose to 22% of total U.S. sales in 2023.
- 49% of Boomers in 2023 stuck to traditional CPG brands despite inflation.
- Ethnic food CPG purchases surged 14% among diverse U.S. households in 2023.
- Mood-boosting CPG snacks gained 18% market penetration in 2023.
- 44% of consumers boycotted CPG brands over ethical issues in 2023.
Consumer Trends Interpretation
Market Size & Growth
- The global consumer packaged goods (CPG) market size was valued at approximately $2.2 trillion in 2023 and is projected to reach $2.9 trillion by 2030, growing at a CAGR of 4.1%.
- In 2023, North America accounted for 35% of the global CPG market revenue, totaling over $770 billion.
- The Asia-Pacific CPG market grew by 6.2% in 2023, driven by rising disposable incomes in China and India.
- Europe's CPG sector saw a market value of $650 billion in 2022, with a projected CAGR of 3.5% through 2028.
- The U.S. CPG market reached $1.1 trillion in retail sales in 2023, up 2.8% from 2022.
- Private label CPG products captured 18.5% of U.S. market share in 2023, generating $250 billion in sales.
- E-commerce accounted for 14.2% of global CPG sales in 2023, up from 11.5% in 2022.
- The beauty and personal care segment within CPG grew to $580 billion globally in 2023.
- Household cleaning products in CPG reached $140 billion worldwide in 2023.
- Food and beverage CPG category dominated with 55% of global market share in 2023, valued at $1.2 trillion.
- The global consumer packaged goods (CPG) market is expected to grow at a CAGR of 5.2% from 2024 to 2030, reaching $3.1 trillion.
- Latin America's CPG market value stood at $450 billion in 2023, with Brazil contributing 40%.
- Middle East and Africa CPG growth rate was 7.1% in 2023, fueled by urbanization.
- U.S. organic CPG sales hit $67 billion in 2023, up 4% YoY.
- Premium CPG segments grew 8.3% globally in 2023 despite economic slowdown.
- Health & wellness CPG subcategory reached $1.5 trillion worldwide in 2023.
- Over-the-counter (OTC) drugs in CPG generated $150 billion in 2023.
- Baby care CPG products market was $120 billion globally in 2023.
- Oral care CPG segment valued at $45 billion in 2023.
Market Size & Growth Interpretation
Supply Chain & Operations
- Global CPG supply chain disruptions cost the industry $1.5 trillion in lost revenue from 2020-2023.
- 68% of CPG companies in 2023 reported inventory shortages due to logistics issues.
- Average CPG lead time increased by 25% globally in 2023 compared to 2019.
- 42% of CPG firms invested in AI for supply chain optimization in 2023.
- Raw material costs for CPG packaging rose 18% year-over-year in 2023.
- 55% of CPG supply chains shifted to nearshoring in 2023 to mitigate risks.
- Digital twins adoption in CPG supply chains reached 30% of large firms in 2023.
- CPG logistics costs as percentage of revenue averaged 8.2% in 2023.
- Blockchain implementation for CPG traceability grew to 22% adoption in 2023.
- 73% of CPG manufacturers faced labor shortages in warehousing in 2023.
- 76% of CPG supply chains experienced delays averaging 4 days in 2023.
- CPG freight costs increased 12% globally due to fuel prices in 2023.
- 51% of CPG executives prioritized supply chain visibility tech in 2023.
- Pallet utilization in CPG warehouses improved 11% with automation in 2023.
- Supplier diversification reduced CPG single-source dependency by 19% in 2023.
- IoT sensors in CPG cold chains covered 40% of perishable goods in 2023.
- CPG returns management costs averaged 4.5% of sales in e-commerce 2023.
- Robotic picking in CPG fulfillment centers reached 25% automation rate in 2023.
- Tariff impacts added 3-5% to CPG import costs in 2023.
Supply Chain & Operations Interpretation
Sustainability & Innovation
- 89% of CPG companies committed to net-zero emissions by 2050 in 2023.
- Recycled content in CPG plastic packaging reached 12% globally in 2023.
- CPG water usage per unit produced dropped 15% industry-wide from 2018-2023.
- 47% of new CPG product launches in 2023 featured sustainable claims.
- Plant-based alternatives in CPG dairy grew 21% in sales volume in 2023.
- CPG carbon footprint reduction averaged 22% for top 100 firms since 2015, reported in 2023.
- Biodegradable packaging adoption in CPG hit 28% for premium brands in 2023.
- 65% of CPG R&D budgets in 2023 allocated to sustainable innovations.
- Zero-waste CPG pilots expanded to 35% of Fortune 500 CPG firms in 2023.
- CPG Scope 3 emissions reporting compliance hit 82% for large firms in 2023.
- Upcycled ingredients in CPG products increased 35% in launches 2023.
- Energy-efficient manufacturing saved CPG industry $10 billion in 2023.
- Regenerative agriculture initiatives covered 15% of CPG crop sourcing in 2023.
- Water-neutral factories achieved by 12% of CPG plants in 2023.
- Compostable CPG packaging market grew to $25 billion in 2023.
- AI-driven product formulation reduced CPG waste by 18% in R&D 2023.
- Fair trade certification covered 22% of CPG coffee and cocoa in 2023.
- Renewable energy usage in CPG facilities reached 45% average in 2023.
Sustainability & Innovation Interpretation
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