The Consumer Packaged Goods (CPG) industry, also known as the fast-moving consumer goods (FMCG) industry, is a sector that produces and sells products that are consumed or replaced frequently by consumers. These products are typically low-cost, have a short shelf life, and are sold in high volumes. Some examples of CPGs include packaged foods, beverages, toiletries, candies, cosmetics, and over-the-counter drugs.
The CPG industry is highly competitive, with well-established companies such as Nestlé, Procter & Gamble, Coca-Cola, and LOréal leading the market. These companies often face challenges in securing shelf space in stores and must invest in advertising to increase brand recognition and stimulate sales. In recent years, the CPG industry has seen the emergence of smaller, innovative players that are disrupting the market with new products and alternative sales channels.
The COVID-19 pandemic has had a significant impact on the CPG industry, with a surge in online sales and a 35% increase in the number of people shopping online for consumer packaged goods. This trend highlights the importance of e-commerce channels for CPG manufacturers and retailers.
