Consumer Packaged Goods (CPG) Companies and Competitive Landscape
The global consumer packaged goods market size was evaluated at US$ 2208.85 billion in 2023 and is expected to attain around US$ 3436.56 billion by 2034, growing at a CAGR of 4.1% from 2024 to 2034.
Consumer Packaged Goods (CPG) Market Key Players
- PepsiCo
- Unilever
- Nestle
- General Mills
- Danone
- Mondelez
- JBS
- AB InBev
- Kraft Heinz and Diageo
Recent Developments
- In December 2023, Chobani, a consumer goods company, acquired the ready-to-drink coffee manufacturer La Colombe to its portfolio. The $900 million acquisition was completed in December.
- In November 2023, Mars acquired the UK Chocolate Brand Hotel Chocolate. The acquisition will boost Hotel Chocolates growth prospects in the United Kingdom and new global markets.
- In November 2023, General Mills acquired Veterinarians and established Fera Pets, a line of pet supplements. This new product will be the first supplement in General Mills pet portfolio and the first purchase made by the companys recently established growth equity fund.
- In August 2023, Naturium was purchased by e.l.f. Beauty, Cosmetic brand leader, for $355 million in shares and cash.
CPG companies strategically prioritize large brick-and-mortar retailers as a focal point of their operations, recognizing that these outlets constitute most of their business. The emphasis on brick-and-mortar retail is particularly relevant for high-volume perishable items within the food and beverage sector. These products, widely available at retailers globally, are frequently purchased for immediate consumption, with consumers instinctively replenishing their preferred frozen meals. The chronic nature of these purchases, often made with minimal deliberation, contributes to the enduring strength of brick-and-mortar retail for CPG companies operating in the food and beverage sector.
