Annual BCG/IRI study highlights role of acquisition, innovation, surgical pricing, ecommerce, and consumer-trend fulfillment
The US consumer packaged goods industry increased by 2.2% in 2019, outpacing 2018 growth of 2.0%, according to the eighth annual Boston Consulting Group (BCG)/IRI CPG study released at the end of March. The growth was driven exclusively by pricing adjustments in the face of declining average volumes across measured channels. Despite the volume drop, top growth leaders saw their volumes increase over 2018.
The growth leader among large companies was Constellation Brands, which led the category for the third year in a row. Johnson & Johnson, Tyson, General Foods, and Procter & Gamble rounded out the top five large companies—all of which, except for P&G, saw sales volumes increases in 2019. Leading mid-size companies include VPX, maker of the sports drink Bang, and e-cigarette maker Juul. Leading small CPG companies include e-cigarette maker NJOY and sports drink company BodyArmor.