The latest market report published by Credence Research, Inc., “Global Consumer Packaged Goods Market: Growth, Future Prospects, and Competitive Analysis, 2016 – 2028”. The Global Consumer Packaged Goods Market generated revenue of around USD 598.2 million in 2021 and is anticipated to grow a CAGR of over 6.5% during the forecast period from 2022 to 2028 to reach around USD 872.9 million in 2028.
One of the many factors boosting the rise of the consumer staple is the micro-consumption segment, which drives the launch of new goods. While more new companies are entering the market, consumer packaged goods companies are increasingly focusing on specific customers when developing new brand extensions. Another factor is the increasing advertising of consumer packaged goods. The consumer packaged goods company or brand owner has expanded the reach and frequency of its advertising and promotions due to more products available. These options frequently consist of seasonal or promotional limited-edition product versions. According to the packaging study, they began airing commercials during this period to strengthen their brand, and 68 percent of consumer packaged goods respondents agreed.
Browse Global Consumer Packaged Goods Market report-https://www.credenceresearch.com/report/consumer-packaged-goods-market
The global consumer packaged goods market is bifurcated into Product type, Distribution channel and Geography. The market is categorized as online and offline based on the distribution channel. Based on product type, the global market is segmented into personal care and cosmetics, food and beverages, household supplies, agricultural products, wholesale distribution, and others. The market is segmented based on geography: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
North America accounted for 35.2% of the market in 2021. The appealing growth rate of the North American consumer packaged goods market is due to the alteration in the basket of items consumed at home. Technology breakthroughs and innovations are powering both offline and online channels. Consumer packaged goods have a short shelf life since they are meant to be consumed quickly, which maintains demand. The market will likely expand due to consumer micro-segmentation driving the introduction of new products.
Why Buy This Report-
- The report provides a qualitative and quantitative analysis of the global consumer packaged goods market by segments, current trends, drivers, restraints, opportunities, challenges, and market dynamics with the historical period from 2016-2020, base year- 2021, and forecast period 2022-2028.
- The report contains information related to the competitive landscape, like how the key players in the market are operating at a global, regional, and country level.
- In-depth analysis of the global consumer packaged goods market segmentation based on product type and distribution channel.
- Major countries in each region with their import/export statistics
- The global consumer packaged goods market report also includes analyzing the global, regional, and country levels, key market trends, significant players analysis, market growth strategies, and key application areas.
The Global Consumer Packaged Goods Market is Segmented into:
|2022 – 2028
|2016 – 2021
|By Product Type (2016–2028; US$ Mn)
|By Distribution Channel (2016–2028; US$ Mn)
|By Geography Segment (2016–2028; US$ Bn)