![]() Not all gains will be sustainable for the CPG industry, given that it will certainly face a postpandemic correction. Volume grew primarily because of elevated consumer demand during the pandemic, with the biggest spikes coming in March 2020, when shoppers rushed to the physical and digital aisles and prepared to face lockdowns. (Price/mix is a metric that’s calculated using like-for-like pricing and product mix to determine a change in the absolute price.) Price/mix reached a decade-high annual gain of 3.7%. Growth in 2020 was driven meaningfully by volume, which not only shot up by 6.4% industrywide but also overtook price/mix for the first time in more than ten years. Private-label brands grew by 11.9%, and they gained market share, though at a lower rate than in years past. Small companies excelled with 15.4% growth, while extra-small companies fared even better, averaging an 18.3% revenue increase across the board. Large and midsize companies saw revenue gains of 7.5% and 9.5%, respectively. ![]() ![]() In 2020, consumer packaged goods (CPG) was no exception.įollowing a modest 1.8% compound annual growth rate from 2016 through 2019, the industry grew last year by an impressive 10.4%. Few industries remain unaffected by these profound changes. The COVID-19 pandemic has upended markets and dramatically reshaped consumption habits. Technology, Media, and Telecommunications.
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