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.
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.