Consumer Packaged Goods Market Size 2025-2029
The consumer packaged goods market size is forecast to increase by USD 1,476.3 billion at a CAGR of 4.9% between 2024 and 2029.
The market is experiencing significant growth, driven by several key trends. One notable trend is the increasing sales of CPG products through e-commerce channels. With the convenience and accessibility offered by online shopping, consumers are increasingly turning to e-commerce platforms to purchase their favorite CPG products. Personalized fragrances and skincare products are emerging trends, catering to the growing demand for customized offerings.
Additionally, another trend shaping the market is the rise of direct-to-consumer (D2C) brands. These brands are disrupting traditional retail models by selling their products directly to consumers, often through their own websites or social media channels. Additionally, global inflation and supply chain disruptions continue to pose challenges for CPG companies, requiring them to adapt and innovate to meet consumer demand. Overall, these trends and challenges present both opportunities and risks for players in the CPG market.
What will be the Size of the Consumer Packaged Goods Market During the Forecast Period?
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The market in emerging nations is experiencing significant growth due to rising disposable income and increasing urbanization. With per capita income on the rise, consumers in these regions are developing a preference for clothes and various CPG products. However, challenges persist in the form of pollution and incorrect labeling, which can negatively impact consumer trust. The future prospects for the CPG industry are promising, with competition intensifying as more players enter the market. Volatile commodity prices and regulatory challenges pose significant risks, necessitating strategic planning and adaptability.
Moreover, private label brands are gaining popularity due to their affordability and perceived quality, putting pressure on established players. E-commerce and online shopping have revolutionized the way consumers purchase CPG products, enabling greater convenience and accessibility. Despite these challenges, the CPG industry in emerging nations presents numerous opportunities for growth. Companies must navigate regulatory landscapes, ensure product quality, and adapt to evolving consumer preferences to succeed in this dynamic market.
How is the Consumer Packaged Goods Market Segmented?
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.
Product
Food and beverages
Personal care and cosmetics
Household supplies
Pharmaceuticals
Others
Distribution Channel
Offline
Online
Geography
North America
Canada
US
Europe
Germany
UK
France
Italy
APAC
China
India
Japan
South America
Brazil
Middle East and Africa
By Product Insights
The food and beverages segment is estimated to witness significant growth during the forecast period.
In today's fast-paced world, consumers prioritize convenience and sustainability in their purchasing decisions, particularly in the market. With the rise of dual-income households and busy lifestyles, the demand for ready-to-eat food with longer shelf lives has increased. Packaged foods and beverages cater to this need, allowing consumers to minimize food preparation time and reduce food waste. The longer shelf lives of these products contribute to sustainability goals by decreasing the likelihood of spoilage at both the consumer and retail levels. Moreover, the economic benefits of purchasing in bulk and having a stock of food items with extended shelf lives appeal to budget-conscious consumers. As consumers become more environmentally aware, the CPG industry's focus on sustainability will continue to grow, ensuring the market's long-term success.
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The food and beverages segment was valued at USD 1,625.50 billion in 2019 and showed a gradual increase during the forecast period.
Regional Analysis
North America is estimated to contribute 35% to the growth of the global market during the forecast period.
Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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The North American market is witnessing expansion due to various factors. Primary drivers include the rise in disposable income and evolving lifestyles in nations like the US and Canada, leading to increased consumer expenditure on c
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The Testing, Inspection, and Certification Market in the Consumer Goods and Retail Industry is Segmented by Service Type (Testing and Inspection Service, Certification Service), by Sourcing Type (Outsourced, In-house), and by Geography. The market sizes and forecasts are provided in terms of value (USD million) for all the above segments.
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North America: The US is the dominant market in this region, with significant contributions from key FMCG players. Canada and Mexico are also important markets, benefiting from proximity to the US and growing consumer spending.Europe: Western Europe is the largest FMCG market in this region, driven by developed economies such as Germany, UK, and France. Eastern Europe is experiencing growth, but challenges remain due to variations in purchasing power and distribution channels.Asia-Pacific: China and India are the major markets in this region, with increasing urbanization and rising consumer spending. Japan, South Korea, and Southeast Asian countries are also contributing to the growth.Latin America: Brazil and Mexico are the leading FMCG markets in this region. Economic growth and increasing urbanization are driving market expansion.Middle East & Africa: This region is characterized by a growing population, increasing disposable income, and modernizing retail infrastructure. Saudi Arabia, UAE, and Egypt are key markets in this region. Recent developments include: March 2021: Nestle Sa has launched its two new syrup categories which ultimately taste like freshly-baked cookies. The launch of this product further enhances the sectoral growth of the business.., July 2021: PepsiCo announced its new products with reduced sugar content by 25% in sodas and iced tea in the European region. Through this technology the company aims to catch the attention of health-conscious consumers., June 2023: Nestle SA has launched its two new plant-based dairy alternative products, under its Barista brand name. The development has taken place in the Chinese market wherein it will focus on the oat and pea-based food products in the market., May 21, 2024: PepsiCo Beverages North America (PBNA) announced today that it is growing its fleet of electric vehicles throughout the state of California. Within the next few months, the Fresno, California-based company will be operating fifty Class 8 Tesla Semi trucks out of its manufacturing and distribution facilities, and 75 Ford E-Transit electric vans will revolutionize the electrification of its equipment services fleet throughout the state. The firm will get closer to its audacious pep+ (PepsiCo Positive) target of reaching net zero emissions by 2040 with the support of the electric car rollout.. Key drivers for this market are: RISING HEALTH AWARENESS AMONG THE CONSUMERS 39, INCREASING INCLINATION TOWARDS DIGITAL TECHNOLOGY TO AID MARKET GROWTH 39; DRIVER IMPACT ANALYSIS 40. Potential restraints include: HIGH COST OF THE PRODUCT TO HAMPER MARKET GROWTH 40, RESTRAINT IMPACT ANALYSIS 41. Notable trends are: Growth Of the Organized Retail Sector in the Asia-Pacific Region.
Success.ai’s Consumer Behavior Data for Consumer Goods & Electronics Industry Leaders in Asia, the US, and Europe offers a robust dataset designed to empower businesses with actionable insights into global consumer trends and professional profiles. Covering executives, product managers, marketers, and other professionals in the consumer goods and electronics sectors, this dataset includes verified contact information, professional histories, and geographic business data.
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Consumer Trend Data and Insights
AI-Driven Enrichment
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The Electronics & Consumer Goods Plastics Market Share size & share value expected to touch USD 483.29 billion by 2034, to grow at a CAGR of 38.3% during the forecast period.
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The market size of the Fast Moving Consumer Goods FMCG And Consumer Packaged Goods CPG Market is categorized based on Type (by Product Type, Processed Foods, Prepared Meals, Beverages, Baked Goods, Fresh, Frozen Goods & Dry Goods, Medicine, Cleaning Products, Cosmetics & Toiletries, Office Supplies, by Sales Channel, Supermarkets & Hypermarkets, Grocery Stores, Specialty Stores, E-commerce, Others) and Application (Household Use, Catering Industry (Restaurant, Hotel, Bar, etc.), Others) and geographical regions (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa).
This report provides insights into the market size and forecasts the value of the market, expressed in USD million, across these defined segments.
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Fast-Moving Consumer Goods Packaging Market size was valued at USD 730.96 Billion in 2024 and is projected to reach USD 1,180.70 Billion by 2031, growing at a CAGR of 7.09% during the forecast period 2024-2031.
Global Fast-Moving Consumer Goods Packaging Market Drivers
Shifting Lifestyles of Consumers: Packaging that improves product accessibility, portability, and simplicity of use is necessary due to changing consumer lifestyles that are marked by hectic schedules and a desire for convenience.
Growth of E-Commerce: Strong and effective packaging is required due to the FMCG products’ fast expansion into e-commerce channels. When it comes to guaranteeing the safe and secure delivery of products purchased online, packaging is essential.
Novel Approaches to Packaging Materials: Consumer desires for packaging that is ecologically friendly are being met by continuous innovation in packaging materials, which includes sustainable and eco-friendly solutions. Materials that are recyclable and biodegradable are becoming more popular.
Shelf Appeal and Differentiation of Brands: To stand out on crowded retail shelves, FMCG firms concentrate on developing distinctive and visually appealing packaging designs. A crucial component of brand identity and drawing in customers is packaging.
Increasing Net Worth: Rising levels of disposable income are a contributing factor to the rising demand for premium and value-added FMCG products, especially in emerging economies. This makes high-quality packaging essential for boosting the allure of the product.
Trends in Health and Wellbeing: The market for products with characteristics like portion control, freshness preservation, and packaging that encourages healthy consumption patterns is rising as people’s awareness of health and wellbeing increases.
FMCG Market Size 2025-2029
The FMCG market size is forecast to increase by USD 456.9 billion at a CAGR of 3.2% between 2024 and 2029.
The fast-moving consumer goods market is experiencing significant growth driven by several key trends and factors. One of the most notable trends is the increasing preference for e-commerce platforms as a distribution channel. With the global e-commerce market projected to reach unprecedented heights, FMCG companies are capitalizing on this trend by expanding their online presence and improving their digital capabilities. Another significant factor fueling market growth is the rising consumption of ready-to-eat food products.
However, the market also faces challenges, particularly in emerging economies where infrastructure development lags behind. The lack of proper infrastructure, including transportation and storage facilities, can make it difficult for FMCG companies to effectively distribute their products and maintain their supply chains. Despite these challenges, the market presents significant opportunities for companies seeking to capitalize on emerging trends and navigate the complex market landscape.
By focusing on digital transformation, investing in innovation, and building supply chain capabilities, FMCG companies can effectively meet the evolving needs of consumers and stay ahead of the competition. Additionally, companies that are able to successfully navigate the challenges presented by emerging markets can tap into significant growth potential and gain a competitive edge in the global marketplace.
What will be the Size of the FMCG Market during the forecast period?
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The Fast-Moving Consumer Goods (FMCG) market encompasses a diverse range of products including food and beverages, oral hygiene, home care, and cleansing items. This market is driven by various factors, including changing lifestyles and the growing middle-class population. Consumers are increasingly seeking healthcare and lifestyle products, such as food and beverages with health benefits, oral hygiene items, and natural or sustainable options. The rise of dual-income families and e-commerce platforms has led to a shift in shopping behaviors, with more consumers opting for online purchases.
However, the market also faces challenges, such as the proliferation of counterfeit brands and the need to address consumer preferences for green alternatives. Overall, the market is a significant and dynamic sector, with continued growth expected due to evolving consumer demands and trends.
How is this FMCG Industry segmented?
The fmcg industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.
Type
Food and beverage
Personal and beauty care
Health and hygiene care
Home care
Distribution Channel
Offline
Online
Product Type
Premium
Mass market
Private label
Production Type
In-house
Contract-based
Geography
APAC
China
India
Japan
South Korea
North America
US
Canada
Europe
France
Germany
Russia
Middle East and Africa
South America
Brazil
By Type Insights
The food and beverage segment is estimated to witness significant growth during the forecast period. The Fast-Moving Consumer Goods (FMCG) market experienced growth in 2023, driven by increasing demand for packaged and processed foods in both developed and emerging economies. Economic progress and rising disposable income levels have fueled this trend, particularly in sectors such as food and beverages, oral hygiene products, home care, and packaged foods. In response, food processing and packaging solutions have expanded to meet the growing demand for convenient and differentiated products. For instance, Thomas Foods introduced a new croissant bread product, combining the flaky layers of a croissant with the convenience of sliced bread. Additionally, changing lifestyles and consumer preferences have led to increased demand for sustainable shopping, natural and plant-based options, and counterfeit-free products.
The urban, semi-urban, and rural sectors have all seen growth in FMCG sales, with online purchasing and retail platforms, including e-commerce, specialty stores, convenience stores, and retail stores, gaining popularity. consumer electronics, pet care, and health care sectors have also seen growth in the market. Manufacturers are increasingly focusing on in-house and contract-based production, subscription services, and mobile apps to meet consumer demands and compete in the market.
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The food and beverage segment was valued at USD 1277.40 billion in 2019 and showed a gradual increase during
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Explore the Consumer Goods And General Rental Centers Market trends! Covers key players, growth rate 8.2% CAGR, market size $264.5 Billion, and forecasts to 2034. Get insights now!
The Vietnam consumer goods market is valued at USD 54 billion, driven by the increasing urban population, which has led to a surge in demand for both essential and luxury consumer goods.
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PLM In Consumer Goods Market size was valued at USD 2.44 Billion in 2023 and is projected to reach USD 3.58 Billion by 2030, growing at a CAGR of 10% during the forecast period 2024-2030.
Global PLM In Consumer Goods Market Drivers
The market drivers for the PLM In Consumer Goods Market can be influenced by various factors. These may include:
Market Competition: Businesses in the consumer goods sector are driven to find methods to set their products apart from the competition, accelerate time to market, and improve product quality. PLM systems assist businesses in managing product data effectively, streamlining the product development process, and fostering productive departmental and external partner collaboration.
Demand for Innovation: As consumer tastes change over time, there is an increasing need for items that are new and that provide special features, improved functionality, and sustainability. PLM systems help businesses develop more quickly by streamlining communication, organizing concepts, and successfully launching new goods.
Globalization and the Complexity of the Supply Chain: Companies that manufacture consumer goods compete on a worldwide scale, which presents challenges for supply chain managers, legal compliance, and quality assurance. PLM solutions give businesses access and control across the whole product lifecycle, from design and sourcing to production and distribution, assisting them in more skillfully navigating the challenges of a global supply chain.
Regulatory Compliance: A number of laws pertaining to environmental sustainability, product safety, and labeling apply to the consumer goods sector. Through the provision of tools for tracking and managing product information, certifications, and documentation throughout the product lifecycle, PLM solutions assist businesses in ensuring compliance with regulatory standards.
Cost Reduction and Efficiency Improvement: Consumer products companies face pressure to cut costs and boost operational efficiency in an increasingly competitive market. PLM systems contribute to process optimization, shorter time-to-market, reduced errors, and waste elimination, all of which save costs and increase profitability.
Digital Transformation: As businesses look to use technology to improve collaboration, streamline processes, and extract insights from data, PLM solutions are becoming more and more popular in the consumer products industry. In order to further enhance the processes involved in product development and innovation, PLM platforms are growing to include cutting-edge technology like artificial intelligence, machine learning, and the Internet of Things.
Corporate Social Responsibility (CSR) and Sustainability: The consumer goods industry is seeing an increase in the focus on sustainability and corporate social responsibility (CSR) due to consumer demand for eco-friendly products and moral company conduct. PLM systems may assist businesses in meeting sustainability targets and improving their brand image by assisting them in incorporating sustainability concerns into product design, sourcing choices, and supply chain management procedures.
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Food & Beverage: Staple goods, processed foods, and beverages form the foundation of the market. Cosmetics & Personal Care: Products like skincare, haircare, and cosmetics are influenced by fashion and beauty trends. Pharmaceuticals: This segment includes prescription drugs, over-the-counter medications, and vitamins, addressing health and well-being. Nutraceuticals: These products bridge the gap between food and pharmaceuticals, offering health benefits beyond basic nutrition. Other Segments: Home care, pet care, and office supplies also contribute significantly to market diversification. Recent developments include: In July 2022, Procter & Gamble (P&G)- one of the big giants of consumer goods launched updated versions for virtual shopping in the Southeast Asian market., In October 2022, Tata Consumer Products, and Marico announced the launch of new products under the brand name Saffola., April 19, 2024, Procter & Gamble Company announced net revenues of $20.2 billion for the third quarter of its fiscal year 2024, up 1% from the same period last year. Excluding the effects of foreign exchange and acquisitions and divestitures, organic revenues rose by three percent. There was an 11% rise in diluted net earnings per share to $1.52 from the previous year., For the quarter, net earnings were $3.8 billion and operating cash flow was $4.1 billion. Calculated as operational cash flow less capital expenditures as a proportion of net earnings, adjusted free cash flow productivity was 87%. Through share repurchases of $1 billion and dividend payments of about $2.3 billion, the Company gave $3.3 billion in cash back to its shareholders. This month's dividend increase represents the 68th straight., In 2024, IBM announced a collaboration with SAP to develop solutions to help clients in the consumer packaged goods and retail industries improve their supply chain, finance operations, sales, and services using generative AI. IBM is collaborating with SAP to develop new generative and traditional AI solutions to address the complexities of the direct store delivery business process and product portfolio management, building on a shared legacy of technology expertise and the successful integration of IBM Watsonx, an enterprise-ready AI and data platform, and AI assistants, into SAP solutions. IBM Consulting and SAP are already working with global CPG clients to gather precise requirements for safe and scalable AI solutions that can be connected with the SAP Direct Distribution® solution.. Notable trends are: The ongoing demand for convenience products among the population is skyrocketing the demand..
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The market size of the Fast Moving Consumer Goods FMCG Packaging Market is categorized based on Type (Protective Packaging, Flexible Packaging, Paper-Based Packaging, Rigid Plastic Packaging, Custom Packaging) and Application (Food & Beverages, Cosmetics) and geographical regions (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa).
This report provides insights into the market size and forecasts the value of the market, expressed in USD million, across these defined segments.
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Consumer Packaged Goods (CPG) Market size was valued at USD 5483.4 Billion in 2023 and is projected to reach USD 6615.5 Billion by 2030, growing at a CAGR of 2.8% during the forecast period 2024-2030.
Global Consumer Packaged Goods (CPG) Market Drivers
The market drivers for the Consumer Packaged Goods (CPG) Market can be influenced by various factors. These may include:
Changing Customer Preferences: A variety of factors, including changes in lifestyle, demographics, urbanization, and culture, constantly influence consumer preferences and behaviors. CPG companies need to offer products that fit the needs, tastes, and values of their customers in order to adjust to these shifting preferences.
Product development and innovation: In the CPG industry, innovation is a major force. Businesses spend money on R&D to produce cutting-edge goods that satisfy changing consumer demands, outperform competitors, improve convenience, and add value. The introduction of new products and strategies for product differentiation propel market expansion and rivalry.
Trends in Health and Wellness: Consumers are searching for CPG products that support health, nutrition, and overall well-being as they become more conscious of these issues. Organic, natural, non-GMO, and functional products are becoming more and more in demand as consumers prioritize leading healthier lives. In response, CPG companies provide healthier substitutes and restructure current products to align with consumer inclinations.
E-commerce and Digital Transformation: The CPG industry is undergoing a revolution thanks to the spread of digital technologies and e-commerce channels. Because online shopping platforms offer convenience, variety, and personalized experiences, more and more consumers are choosing them. CPG businesses use omnichannel distribution, digital marketing, e-commerce tactics, and data analytics to increase market share, engage customers, and boost revenue.
Easy Living and Always-On Lifestyles: The demand for easy-to-consume, portable, portion-controlled CPG products that are portable is driven by time constraints and busy lifestyles. Snacking bars, grab-and-go options, single-serve packaging, and ready-to-eat meals all appeal to customers looking for quick and convenient meal solutions.
Sustainability and Environmental Concerns: In the CPG business, consumers’ decisions to buy are influenced by their growing awareness of environmental issues and concerns about sustainability. Sustainable sourcing methods, recyclable packaging, and environmentally friendly goods are top priorities for consumers. To meet consumer expectations and improve brand reputation, CPG companies implement sustainable initiatives, minimize waste, lower their carbon footprint, and embrace the principles of the circular economy.
Demographic Trends: The dynamics of the CPG market are shaped by demographic variables such as population growth, urbanization, aging populations, and household composition. Businesses customize their product lines, package designs, and advertising tactics to appeal to particular consumer demographics, including millennials, Gen Z, baby boomers, families, and multiculturals.
Globalization and Emerging Markets: Globalization gives CPG companies more market opportunities to enter emerging markets and new geographic areas. Consumer spending on CPG products is driven by growing middle-class populations, urbanization, and rising disposable incomes in developing nations. To prosper in a variety of international markets, businesses must modify their marketing tactics, localize their product offerings, and handle regulatory environments.
The COVID-19 pandemic has brought to light the significance of resilient and agile supply chains in the consumer packaged goods (CPG) sector. In order to increase flexibility, responsiveness, and continuity during disruptions and volatile market conditions, businesses concentrate on supply chain optimization, inventory management, risk mitigation, and digitalization.
In 2022, diagnostic agents were the leading consumer goods in Japan, showing a sales growth of 277 percent compared to the previous year. Diagnostic agents were commonly used in COVID-19 test kits, resulting in a boost in sales during the pandemic. Oatmeal was the second consumer goods category showing significant growth with an increase by 156 percent, as the versatile use of the grain preparation became a trending topic on television and social media.
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As per Cognitive Market Research's latest published report, the Global FMCG market size was USD 12,490.91 Billion in 2022 and it is forecasted to reach USD 17,939.41 Billion By 2030. FMCG Industry's Compound Annual Growth Rate will be 6.11 % from 2023 to 2030. What is Driving FMCG Industry Growth?
Increasing consumer awareness about FMCG products, and the regular launch of new products by manufacturers is the major factor expected to drive the growth of the FMCG market. In addition, increasing advertisement of brands, strong distribution channel systems, and changes in the lifestyle of consumers in developed and developing countries are expected to drive the growth of the target market. Furthermore, the increasing trend of online shopping and expansion of the FMCG network in rural areas of developing countries are expected growth opportunities for the FMCG market in the forecast period. However, rising competition between key market players is expected to hamper the growth of the FMCG market. What is FMCG?
FMCG (fast-moving consumer goods) is known as consumer-packaged goods. The FMCG market includes a wide range of durable and non-durable consumer products, which include soap, toiletries, cosmetics, shaving products, tooth cleaning products, detergents, and non-durable consumer products such as glassware, paper products, and others.
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The size and share of the market is categorized based on Type (Hot Melt Adhesives, Water-Based Adhesives, Solvent-Based Adhesives, Reactive Adhesives) and Application (Packaging, Electronics, Textiles, Footwear, Furniture) and geographical regions (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa).
Success.ai’s Consumer Marketing Data for Food, Beverage & Consumer Goods Professionals Globally provides a comprehensive dataset tailored for businesses seeking to connect with decision-makers and marketing professionals in these dynamic industries. Covering roles such as brand managers, marketing strategists, and product developers, this dataset offers verified contact details, decision-maker insights, and actionable business data.
With access to over 700 million verified global profiles, Success.ai ensures your marketing, sales, and research efforts are powered by accurate, continuously updated, and AI-validated data. Backed by our Best Price Guarantee, this solution is essential for businesses aiming to lead in the food, beverage, and consumer goods sectors.
Why Choose Success.ai’s Consumer Marketing Data?
Verified Contact Data for Precision Targeting
Comprehensive Coverage Across Global Markets
Continuously Updated Datasets
Ethical and Compliant
Data Highlights:
Key Features of the Dataset:
Comprehensive Professional Profiles
Advanced Filters for Precision Campaigns
Regional Trends and Consumer Insights
AI-Driven Enrichment
Strategic Use Cases:
Marketing Campaigns and Brand Outreach
Product Development and Launch Strategies
Sales and Partnership Development
Market Research and Competitive Analysis
Why Choose Success.ai?
Best Price Guarantee
Seamless Integration
Data Acc...
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Artificial intelligence (AI) In Fast-Moving Consumer Goods (FMCG) And Retail Market 2025: Projected to hit USD 461.43B by 2029 at 24.8% CAGR. Access in-depth analysis on trends, market dynamics, and competitive landscape for data-driven decisions.
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The 3D printing market in consumer goods is experiencing remarkable transformation, driven by technological advancements and changing consumer preferences. This innovative manufacturing approach allows for the creation of customized products, catering to the growing demand for personalization and unique designs. As
Consumer Packaged Goods Market Size 2025-2029
The consumer packaged goods market size is forecast to increase by USD 1,476.3 billion at a CAGR of 4.9% between 2024 and 2029.
The market is experiencing significant growth, driven by several key trends. One notable trend is the increasing sales of CPG products through e-commerce channels. With the convenience and accessibility offered by online shopping, consumers are increasingly turning to e-commerce platforms to purchase their favorite CPG products. Personalized fragrances and skincare products are emerging trends, catering to the growing demand for customized offerings.
Additionally, another trend shaping the market is the rise of direct-to-consumer (D2C) brands. These brands are disrupting traditional retail models by selling their products directly to consumers, often through their own websites or social media channels. Additionally, global inflation and supply chain disruptions continue to pose challenges for CPG companies, requiring them to adapt and innovate to meet consumer demand. Overall, these trends and challenges present both opportunities and risks for players in the CPG market.
What will be the Size of the Consumer Packaged Goods Market During the Forecast Period?
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The market in emerging nations is experiencing significant growth due to rising disposable income and increasing urbanization. With per capita income on the rise, consumers in these regions are developing a preference for clothes and various CPG products. However, challenges persist in the form of pollution and incorrect labeling, which can negatively impact consumer trust. The future prospects for the CPG industry are promising, with competition intensifying as more players enter the market. Volatile commodity prices and regulatory challenges pose significant risks, necessitating strategic planning and adaptability.
Moreover, private label brands are gaining popularity due to their affordability and perceived quality, putting pressure on established players. E-commerce and online shopping have revolutionized the way consumers purchase CPG products, enabling greater convenience and accessibility. Despite these challenges, the CPG industry in emerging nations presents numerous opportunities for growth. Companies must navigate regulatory landscapes, ensure product quality, and adapt to evolving consumer preferences to succeed in this dynamic market.
How is the Consumer Packaged Goods Market Segmented?
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.
Product
Food and beverages
Personal care and cosmetics
Household supplies
Pharmaceuticals
Others
Distribution Channel
Offline
Online
Geography
North America
Canada
US
Europe
Germany
UK
France
Italy
APAC
China
India
Japan
South America
Brazil
Middle East and Africa
By Product Insights
The food and beverages segment is estimated to witness significant growth during the forecast period.
In today's fast-paced world, consumers prioritize convenience and sustainability in their purchasing decisions, particularly in the market. With the rise of dual-income households and busy lifestyles, the demand for ready-to-eat food with longer shelf lives has increased. Packaged foods and beverages cater to this need, allowing consumers to minimize food preparation time and reduce food waste. The longer shelf lives of these products contribute to sustainability goals by decreasing the likelihood of spoilage at both the consumer and retail levels. Moreover, the economic benefits of purchasing in bulk and having a stock of food items with extended shelf lives appeal to budget-conscious consumers. As consumers become more environmentally aware, the CPG industry's focus on sustainability will continue to grow, ensuring the market's long-term success.
Get a glance at the market report of share of various segments. Request Free Sample
The food and beverages segment was valued at USD 1,625.50 billion in 2019 and showed a gradual increase during the forecast period.
Regional Analysis
North America is estimated to contribute 35% to the growth of the global market during the forecast period.
Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
For more insights on the market share of various regions, Request Free Sample
The North American market is witnessing expansion due to various factors. Primary drivers include the rise in disposable income and evolving lifestyles in nations like the US and Canada, leading to increased consumer expenditure on c