Towards Packaging Releases Consumer Packaged Goods 2022-2032 Report
A new report from Towards Packaging expects the global consumer packaged goods (CPG) market to witness substantial growth, with a value of $2,132.1 billion in 2022. This growth trajectory is projected to reach a value of $3,171.11 billion by the year 2032, growing at a CAGR of 4.1% from 2023 to 2032.
The preference for CPGs varies across different generational cohorts, highlighting distinct consumer behaviors. Among Millennials (Gen Z), approximately 79% express preferences for CPG products, showcasing a significant affinity for these goods. Generation X closely follows, with 78% indicating a preference for CPG items. Boomers also exhibit a substantial inclination, with 70% expressing a preference for CPG. In contrast, the Silent Generation demonstrates a comparatively lower preference, with 57% indicating a favorable stance toward CPG products.