CPG Category Research
Delivered February 25, 2020. Contributor: Benjamin H.
Goals
To obtain insights into the consumer packaged goods (CPG) industry. Examples of the desired insights include, but are not limited to, information on condiments, children's eating/snacking, mothers' preferences or habits, and healthier eating. This research would be used in a pitch relating to food products in the CPG market.
Early Findings
- In recent years, the consumer packaged goods (CPG) industry has experienced a slow-down in growth. However, the CPG industry remains one of the largest sectors in North America, currently valued at approximately $2 trillion.
- Some leading companies in the North American CPG industry include Coca-Cola, L'Oréal, and Procter & Gamble.
- In 2019, the United States consumer packaged goods market was the largest in the world. According to a study conducted by Statista, the United States CPG market was valued at approximately $635 billion.
- According to Mordor Intelligence, the global condiments, sauces, and dressing market is predicted to grow at a CAGR of 4.9% during the 2020-2025 forecast period.
- An "increasing shift toward the consumption of spicy food products is expected to boost the demand for various condiments, sauces, and dressings, significantly." Also, the consumption of food products such as rice and pasta, with various sauces, dressing, and condiments continues to remain in vogue, throughout the world.
- Research conducted by GlobalWebIndex reveals that quality is the most important motivator for mothers, in the United States and China, when purchasing baby products.
- Also, social media stands out as a major channel for mothers. GlobalWebIndex research revealed that "motherhood brings about an increase in social media usage."
Proposed next steps:
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