Key Takeaways
- The global CPG food and beverage market size was valued at USD 7.2 trillion in 2023 and is expected to grow to USD 9.8 trillion by 2030 at a CAGR of 4.5%.
- In 2023, the U.S. CPG food and beverage sector generated revenues of $1.1 trillion, representing 15% of global CPG sales.
- The beverage segment within CPG grew by 5.2% YoY in 2023, outpacing food growth at 3.8%.
- 68% of U.S. consumers aged 18-34 prioritize health-focused food and beverage labels when shopping CPG products in 2023.
- 45% of global consumers increased plant-based purchases in CPG food/beverages in 2023 due to sustainability concerns.
- In 2023, 62% of European shoppers sought low-sugar options in CPG beverages.
- PepsiCo held 25% market share in U.S. beverage CPG category in 2023 with $90 billion revenue.
- Nestle generated $104 billion in global CPG food and beverage sales in 2023.
- Coca-Cola Company reported $45.8 billion net revenue in 2023, dominating carbonated drinks CPG.
- 1,200 new plant-based CPG food and beverage products launched globally in 2023.
- 35% of new CPG beverage SKUs in 2023 featured functional ingredients like adaptogens.
- RTD coffee CPG launches increased 28% YoY to 450 products in 2023 U.S.
- 65% of CPG companies committed to net-zero emissions by 2050 in 2023 pledges.
- Plastic packaging in CPG food/beverages reduced by 12% globally 2018-2023.
- 78% of U.S. CPG firms adopted recyclable packaging standards by 2023.
The global CPG food and beverage market is steadily growing, driven by health and sustainability trends.
Competitive Landscape
- PepsiCo held 25% market share in U.S. beverage CPG category in 2023 with $90 billion revenue.
- Nestle generated $104 billion in global CPG food and beverage sales in 2023.
- Coca-Cola Company reported $45.8 billion net revenue in 2023, dominating carbonated drinks CPG.
- Unilever's food and refreshment division earned €27.6 billion in 2023 CPG sales.
- Procter & Gamble's fabric and home care CPG (including beverages adjacents) at $38 billion in FY2023.
- Mondelez International achieved $36 billion net revenues in 2023 from snacks CPG.
- Danone's global revenues reached €27.6 billion in 2023 primarily from dairy CPG.
- AB InBev reported €59.4 billion revenue in 2023 leading beer CPG market.
- General Mills FY2023 net sales $20.1 billion in U.S. CPG food.
- Kraft Heinz Company sales $26 billion in 2023 for packaged foods CPG.
- Keurig Dr Pepper revenue $14.8 billion in 2023 beverages CPG.
- Hormel Foods net sales $12.1 billion in 2023 protein CPG.
- Tyson Foods $52.9 billion sales in 2023 poultry/beef CPG.
- Mars Inc. estimated $45 billion revenue 2023 confectionery/food CPG (private).
- Reckitt Benckiser health/home (CPG adj) £14.6 billion 2023.
- Colgate-Palmolive $19.5 billion sales 2023 oral/personal care CPG.
- Kellogg (now Kellanova) $13.1 billion net sales 2023 cereals/snacks.
- Campbell Soup Company $9.4 billion sales 2023 soups/snacks CPG.
- Heineken €30.6 billion revenue 2023 beer CPG leader Europe.
- Diageo £17.1 billion sales 2023 spirits/wine CPG.
- Constellation Brands $9.2 billion revenue 2023 beer/wine CPG.
- Smucker Company $8.2 billion net sales 2023 coffee/jams CPG.
- Conagra Brands $12.3 billion sales 2023 packaged foods CPG.
- Post Holdings $7.4 billion revenue 2023 cereals/food CPG.
Competitive Landscape Interpretation
Consumer Trends
- 68% of U.S. consumers aged 18-34 prioritize health-focused food and beverage labels when shopping CPG products in 2023.
- 45% of global consumers increased plant-based purchases in CPG food/beverages in 2023 due to sustainability concerns.
- In 2023, 62% of European shoppers sought low-sugar options in CPG beverages.
- U.S. millennial parents 73% more likely to buy organic CPG foods than non-parents in 2023 survey.
- 55% of Asian consumers under 35 prefer functional beverages with added vitamins in CPG category 2023.
- Global online grocery shopping for CPG food/beverages rose to 22% of consumers in 2023 from 15% in 2021.
- 49% of Gen Z consumers avoid brands without clear sustainability claims in CPG purchases 2023.
- In Brazil, 67% of consumers prioritize affordable premium CPG snacks amid inflation in 2023.
- 58% of U.K. consumers read nutrition labels more frequently for CPG products post-2022.
- India saw 40% of urban consumers shifting to ready-to-eat CPG meals in 2023.
- 72% of U.S. women over 50 seek probiotic-enriched CPG dairy in 2023.
- Globally, 51% of consumers reduced meat consumption favoring plant-based CPG alternatives in 2023.
- China consumers 65% more likely to buy low-alcohol CPG beverages in 2023.
- 47% of French consumers prefer locally sourced CPG food products in 2023 surveys.
- Australia 59% of consumers demand transparent ingredient lists in CPG 2023.
- Mexico 61% of households increased hydration beverage CPG buys in 2023 heatwaves.
- 54% of global parents prioritize allergen-free CPG labels for children in 2023.
- South Korea 70% youth consume bubble tea CPG variants weekly in 2023.
- 63% of Canadian consumers seek keto-friendly CPG snacks in 2023.
- Japan 48% seniors prefer low-sodium CPG soups amid health awareness 2023.
- 56% U.S. Hispanics favor spicy flavor CPG innovations in 2023.
- Germany 52% consumers boycott plastic-heavy CPG packaging in 2023.
- 66% of Italian consumers indulge in premium ice cream CPG despite economy 2023.
- Russia 44% shifted to domestic CPG brands post-sanctions 2023.
- 60% Southeast Asia consumers prefer sweetened condensed milk CPG uses 2023.
- Turkey 69% consumers stockpile shelf-stable CPG amid inflation 2023.
- 71% of U.S. consumers aged 25-34 use apps for CPG coupons in 2023.
Consumer Trends Interpretation
Market Size & Growth
- The global CPG food and beverage market size was valued at USD 7.2 trillion in 2023 and is expected to grow to USD 9.8 trillion by 2030 at a CAGR of 4.5%.
- In 2023, the U.S. CPG food and beverage sector generated revenues of $1.1 trillion, representing 15% of global CPG sales.
- The beverage segment within CPG grew by 5.2% YoY in 2023, outpacing food growth at 3.8%.
- Asia-Pacific CPG food and beverage market is projected to register the fastest CAGR of 5.8% from 2024 to 2030 due to rising urbanization.
- Packaged food sales in CPG reached $2.4 trillion globally in 2022, with a 4.0% annual growth rate forecasted through 2027.
- The functional beverage subcategory in CPG beverages hit $150 billion in 2023, growing at 7.1% CAGR since 2018.
- North American CPG market share for food and beverages stood at 28% of global total in 2023, valued at $2.0 trillion.
- E-commerce penetration in CPG food and beverages reached 12.5% of total sales in 2023, up from 8% in 2020.
- The plant-based food and beverage CPG segment grew to $29.4 billion in 2023, with 11.9% YoY increase.
- Global ready-to-drink (RTD) beverages market in CPG was $1.2 trillion in 2023, projected CAGR 6.3% to 2030.
- European CPG food market value increased by 3.2% to €1.5 trillion in 2023 amid inflation pressures.
- Snack food subcategory in CPG reached $500 billion globally in 2023, with 4.8% CAGR expected to 2028.
- U.S. non-alcoholic beverage CPG sales totaled $450 billion in 2023, growing 2.9% YoY.
- Latin America CPG beverage market expanded at 6.1% CAGR from 2018-2023, reaching $300 billion.
- Organic food and beverage CPG sales hit $200 billion worldwide in 2023, up 8.4% from prior year.
- China CPG food market valued at $1.0 trillion in 2023, with 5.5% projected CAGR to 2028.
- Global dairy CPG products market size was $950 billion in 2023, forecasted to grow at 3.7% CAGR.
- Energy drinks segment in CPG beverages reached $86 billion in 2023 globally.
- India CPG food and beverage market projected to reach $450 billion by 2027 from $320 billion in 2023.
- Premium CPG food segment grew 6.2% in 2023 to $1.1 trillion globally.
- Bottled water CPG market hit $320 billion in 2023, with 7.5% CAGR since 2019.
- Middle East & Africa CPG beverages market grew 4.9% to $150 billion in 2023.
- Frozen food CPG sales reached $350 billion globally in 2023, up 5.1% YoY.
- Alcoholic beverages CPG market valued at $1.6 trillion in 2023 worldwide.
- Australia/New Zealand CPG food market at $80 billion in 2023, CAGR 3.9% to 2028.
- Meal kit delivery CPG trend segment reached $20 billion globally in 2023.
- Confectionery CPG market size $220 billion in 2023, projected 4.2% CAGR.
- Sports nutrition beverages in CPG grew to $45 billion in 2023.
- Bakery products CPG segment $550 billion globally in 2023.
- Carbonated soft drinks CPG sales $450 billion in 2023 worldwide.
Market Size & Growth Interpretation
Product Innovation
- 1,200 new plant-based CPG food and beverage products launched globally in 2023.
- 35% of new CPG beverage SKUs in 2023 featured functional ingredients like adaptogens.
- RTD coffee CPG launches increased 28% YoY to 450 products in 2023 U.S.
- Low/no-alcohol beer CPG innovations reached 800 SKUs globally 2023.
- 22% growth in keto-certified CPG snack launches worldwide 2023.
- Probiotic-fortified non-dairy CPG yogurts saw 150 new products in Europe 2023.
- Collagen-infused beverages CPG launches up 40% to 200 SKUs in 2023.
- 500+ zero-sugar soda CPG variants introduced in Asia-Pacific 2023.
- Mushroom-based CPG meat alternatives launched 120 products globally 2023.
- High-protein bread CPG innovations 95 SKUs in U.S. 2023.
- CBD-infused CPG drinks regulatory-approved launches 75 in U.S. 2023.
- Fermented soda CPG kombucha hybrids 180 new products 2023.
- 300 plant-based cheese CPG launches in 2023 Europe.
- Energy drink with nootropics CPG 110 SKUs global 2023.
- Oat milk flavored variants 250 launches worldwide 2023.
- Gut-health snack bars CPG 400 new products 2023.
- Sparkling hydration waters with electrolytes 320 SKUs U.S. 2023.
- Vegan gummy vitamins CPG beverages adj 90 launches 2023.
- Seaweed snack CPG innovations 70 products Asia 2023.
- Hard seltzer fruit hybrids 450 SKUs North America 2023.
Product Innovation Interpretation
Sustainability & Regulation
- 65% of CPG companies committed to net-zero emissions by 2050 in 2023 pledges.
- Plastic packaging in CPG food/beverages reduced by 12% globally 2018-2023.
- 78% of U.S. CPG firms adopted recyclable packaging standards by 2023.
- Water usage in CPG beverage production dropped 25% industry average 2023.
- EU single-use plastic ban impacted 40% of CPG beverage packaging in 2023.
- Scope 3 emissions reporting mandatory for 55% large CPG firms 2023 CSRD.
- 92% CPG supply chains audited for deforestation compliance 2023.
- Organic certification covered 15% of global CPG food sales 2023.
- Carbon footprint labeling piloted on 20% U.S. CPG products 2023.
- Fair trade certified CPG products grew 8% to $12 billion 2023.
- 45% reduction in food waste targeted by CPG firms via WRAP 2023.
- Regenerative agriculture adopted by 30% major CPG suppliers 2023.
- PFAS chemicals banned in 15 U.S. states for CPG packaging 2023.
- 67% CPG beverages shifted to aluminum cans for recyclability 2023.
- Biodiversity commitments signed by 50 top CPG companies 2023 TNFD.
- Sugar tax implemented in 50+ countries affecting 25% CPG sodas 2023.
- 85% renewable energy usage in CPG factories Europe average 2023.
- Traceability blockchain used in 18% CPG supply chains 2023.
- Palm oil RSPO certified 70% in CPG products 2023.
- Microplastic testing required for 10% CPG bottled waters 2023 regs.
Sustainability & Regulation Interpretation
Sources & References
- Reference 1GRANDVIEWRESEARCHgrandviewresearch.comVisit source
- Reference 2STATISTAstatista.comVisit source
- Reference 3NIELSENIQnielseniq.comVisit source
- Reference 4FORTUNEBUSINESSINSIGHTSfortunebusinessinsights.comVisit source
- Reference 5MCKINSEYmckinsey.comVisit source
- Reference 6EUROMONITOReuromonitor.comVisit source
- Reference 7IBISWORLDibisworld.comVisit source
- Reference 8BAINbain.comVisit source
- Reference 9PLANTBASEDNEWSplantbasednews.orgVisit source
- Reference 10MARKETSANDMARKETSmarketsandmarkets.comVisit source
- Reference 11KANTARkantar.comVisit source
- Reference 12BEVINDUSTRYbevindustry.comVisit source
- Reference 13OTAota.comVisit source
- Reference 14MORDORINTELLIGENCEmordorintelligence.comVisit source
- Reference 15FUTUREMARKETINSIGHTSfuturemarketinsights.comVisit source
- Reference 16IBEFibef.orgVisit source
- Reference 17PWCpwc.comVisit source
- Reference 18RESEARCHANDMARKETSresearchandmarkets.comVisit source
- Reference 19IWSRiwsr.comVisit source
- Reference 20BEVERAGEDAILYbeveragedaily.comVisit source
- Reference 21WHOLEFOODSMARKETwholefoodsmarket.comVisit source
- Reference 22DELOITTEdeloitte.comVisit source
- Reference 23INNOVAMARKETINSIGHTSinnovamarketinsights.comVisit source
- Reference 24PROTEINREPORTproteinreport.orgVisit source
- Reference 25CBIcbi.euVisit source
- Reference 26CHOICEchoice.com.auVisit source
- Reference 27FOODNAVIGATORfoodnavigator.comVisit source
- Reference 28NIELSENnielsen.comVisit source
- Reference 29IRIiri.comVisit source
- Reference 30GREENPEACEgreenpeace.deVisit source
- Reference 31GELATOFIPEgelatofipe.comVisit source
- Reference 32ASEANFOODINDUSTRYaseanfoodindustry.comVisit source
- Reference 33DUNNHUMBYdunnhumby.comVisit source
- Reference 34JUNGLESCOUTjunglescout.comVisit source
- Reference 35NESTLEnestle.comVisit source
- Reference 36INVESTORSinvestors.coca-colacompany.comVisit source
- Reference 37UNILEVERunilever.comVisit source
- Reference 38PGINVESTORpginvestor.comVisit source
- Reference 39IRir.mondelezinternational.comVisit source
- Reference 40DANONEdanone.comVisit source
- Reference 41AB-INBEVab-inbev.comVisit source
- Reference 42INVESTORSinvestors.generalmills.comVisit source
- Reference 43IRir.kraftheinzcompany.comVisit source
- Reference 44INVESTORinvestor.keurigdrpepper.comVisit source
- Reference 45INVESTORinvestor.hormelfoods.comVisit source
- Reference 46INVESTORinvestor.tysonfoods.comVisit source
- Reference 47RECKITTreckitt.comVisit source
- Reference 48INVESTORinvestor.colgatepalmolive.comVisit source
- Reference 49INVESTORinvestor.kellanova.comVisit source
- Reference 50INVESTORinvestor.thecampbellscompany.comVisit source
- Reference 51THEHEINEKENCOMPANYtheheinekencompany.comVisit source
- Reference 52DIAGEOdiageo.comVisit source
- Reference 53IRir.cbrands.comVisit source
- Reference 54INVESTORSinvestors.jmsmucker.comVisit source
- Reference 55INVESTORinvestor.conagrabrands.comVisit source
- Reference 56INVESTORSinvestors.postholdings.comVisit source
- Reference 57MINTELmintel.comVisit source
- Reference 58GLOBENEWSWIREglobenewswire.comVisit source
- Reference 59INNOVAinnova.comVisit source
- Reference 60NUTRACEUTICALSWORLDnutraceuticalsworld.comVisit source
- Reference 61BAKINGBUSINESSbakingbusiness.comVisit source
- Reference 62VEGCONOMISTvegconomist.comVisit source
- Reference 63NUTRAINGREDIENTSnutraingredients.comVisit source
- Reference 64FOODNAVIGATOR-USAfoodnavigator-usa.comVisit source
- Reference 65NUTRITIONBUSINESSJOURNALnutritionbusinessjournal.comVisit source
- Reference 66SEAWEEDCOUNCILseaweedcouncil.orgVisit source
- Reference 67WEFORUMweforum.orgVisit source
- Reference 68ELLENMACARTHURFOUNDATIONellenmacarthurfoundation.comVisit source
- Reference 69PACKAGINGDIGESTpackagingdigest.comVisit source
- Reference 70WEFwef.orgVisit source
- Reference 71ECec.europa.euVisit source
- Reference 72DELOITTEwww2.deloitte.comVisit source
- Reference 73GLOBALCANOPYglobalcanopy.orgVisit source
- Reference 74IFOAMifoam.bioVisit source
- Reference 75EPAepa.govVisit source
- Reference 76FAIRTRADEfairtrade.netVisit source
- Reference 77WRAPwrap.org.ukVisit source
- Reference 78NATUREnature.orgVisit source
- Reference 79EWGewg.orgVisit source
- Reference 80ALUMINUMaluminum.orgVisit source
- Reference 81TNFDtnfd.globalVisit source
- Reference 82WHOwho.intVisit source
- Reference 83RE100re100.orgVisit source
- Reference 84IBMibm.comVisit source
- Reference 85RSPOrspo.orgVisit source
- Reference 86FDAfda.govVisit source






