CHICAGO — IRI and Boston Consulting Group (BCG), published their ninth annual CPG study, revealing that the total CPG industry grew roughly 10.4% in 2020, significantly outpacing the prior three-year compound annual growth rate (CAGR) of 1.8% due to COVID-related shifts in consumer shopping and consumption behavior. The report also predicts how consumer trends that emerged during the pandemic will perform in 2021, and reveals 2020’s growth leaders among large, medium and small CPG companies.

“As a result of pandemic-driven changes in consumer habits, many CPG companies now face the difficult task of predicting how those habits will continue to evolve as consumers adjust to the new normal,” said Dr. Krishnakumar (KK) S. Davey, president of Strategic Analytics for IRI. “In addition to highlighting the companies that most successfully drove growth through the pandemic, our report helps companies prepare for the year ahead by predicting the future trajectory of consumer trends that emerged in 2020. By providing insight into which trends are likely to cease and which are here to stay, we are enabling companies to adjust their strategies and plan appropriately to continue growing in 2021.”

An executive summary of the “2020 U.S. CPG Growth Leaders” research and replay of the recent webinar, “2020 Growth Leaders in CPG: Who’s Winning and Why?” can be downloaded here.