What is Global Consumer Packaged Goods (CPG) Market?
The Global Consumer Packaged Goods (CPG) Market is a vast and dynamic sector that encompasses a wide range of products that consumers use on a daily basis. These goods are called 'consumer packaged' because they are packaged and sold in a manner that is convenient for the consumer. The market includes everything from food and beverages to personal care items and household supplies. These products are essential to our daily lives, and as such, the CPG market plays a significant role in the global economy. The market is characterized by high volume sales and low profit margins, which means companies must sell a large quantity of products to make a profit. The CPG market is also highly competitive, with many companies vying for a share of the consumer's wallet. Despite these challenges, the market has shown steady growth over the years, driven by factors such as population growth, urbanization, and rising disposable incomes.
Food and Beverage, Personal Care and Cosmetics, Household Supplies, Others in the Global Consumer Packaged Goods (CPG) Market:
The Global Consumer Packaged Goods (CPG) Market is segmented into several categories, including food and beverage, personal care and cosmetics, household supplies, and others. The food and beverage segment is the largest, accounting for a significant portion of the market. This segment includes everything from packaged foods and drinks to fresh produce and dairy products. The personal care and cosmetics segment includes products like skincare, haircare, makeup, and personal hygiene products. The household supplies segment includes products like cleaning supplies, paper products, and other household necessities. The 'others' segment includes a variety of other consumer goods, such as pet food, baby products, and over-the-counter medications. Each of these segments has its own unique dynamics and trends, but all contribute to the overall growth and vitality of the CPG market.
In-Stores, Online Sales in the Global Consumer Packaged Goods (CPG) Market:
The Global Consumer Packaged Goods (CPG) Market is sold through various channels, including in-stores and online sales. In-store sales have traditionally been the dominant channel, with consumers preferring to see and touch products before making a purchase. However, the rise of e-commerce has led to a significant increase in online sales. Consumers are increasingly turning to online shopping for its convenience and variety. They can browse and compare products from the comfort of their own homes, and have their purchases delivered directly to their doorsteps. This shift towards online shopping has been accelerated by the COVID-19 pandemic, which has led to increased online shopping due to lockdowns and social distancing measures. Despite this shift, in-store sales remain important, particularly for perishable goods like food and beverages.
Global Consumer Packaged Goods (CPG) Market Outlook:
The global Consumer Packaged Goods (CPG) market has shown a steady growth trajectory. In 2022, the market was valued at a whopping US$ 2060040 million. This figure is expected to rise significantly in the coming years, reaching an estimated value of US$ 2459800 million by 2029. This represents a Compound Annual Growth Rate (CAGR) of 3.0% during the forecast period of 2023-2029. This growth is driven by a variety of factors, including population growth, urbanization, and rising disposable incomes. As more people move into cities and have more money to spend, the demand for consumer packaged goods is expected to rise. Additionally, the rise of e-commerce and online shopping is expected to further fuel the growth of the CPG market. Despite the challenges posed by factors such as intense competition and changing consumer preferences, the CPG market is poised for continued growth in the coming years.
| Report Metric | Details |
| Report Name | Consumer Packaged Goods (CPG) Market |
| Accounted market size in 2022 | US$ 2060040 in million |
| Forecasted market size in 2029 | US$ 2459800 million |
| CAGR | 3.0% |
| Base Year | 2022 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| By Region |
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| By Company | Procter & Gamble, Unilever, LOreal SA, Colgate-Palmolive, The Kraft Heinz Co., Kellogg Company, Nestle, Pepsi, Coca-Cola, Carlsberg A/S, Diageo, Heineken NV, AB InBev, Kweichow Moutai, Keurig Dr Pepper, Campbell Soup Company |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
