What is a CPG Company? How Does the CPG Industry Work?
What is a CPG Company?
Consumer Packaged Goods or CPG industry manufactures products used in everyday life with a limited shelf-life in general. The term CPG describes fast-moving consumer products produced in large numbers; before being sold to retailers and then the customer. These products remain continuously in demand and hence are produced in large numbers.
The CPG space is among the largest sectors globally, worth more than 20 million US dollars as of 2021. The industry is ripe for further disruption, which will help it achieve a total market size of USD 25 million in the next ten years.
Being marketing-heavy, the CPG industry has multiple brands serving almost all categories of products. It further leads to competition, heavy discounting, and price wars.
The Consumer Packaged Goods industry mostly uses channels such as convenience stores, pharmacies, and online stores for sales.
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