Consumer insights firm Circana LLC is releasing the 13th annual 2024 US CPG Growth Leaders report. The report identifies the strategies and trends powering the success of consumer packaged goods companies ranging from $100 million to $8 billion or more in annual sales across the US retail landscape.

The findings highlight the industry’s shifting dynamics, as smaller CPG companies and private labels take center stage, leveraging innovation and value-driven strategies to outperform their peers.

“As the industry continues to evolve, our research underscores just how critical it is for CPG leaders to stay agile, consumer-focused, and purpose-driven,” said Sally Lyons Wyatt, global executive vice president and chief advisor at Circana. “The ability to build authentic connections with consumers, offer comprehensive value, and align with today’s wellness-driven and socially conscious shoppers is what separates the standouts from the pack. These findings provide a roadmap for driving success in 2025 and beyond.”

Smaller manufacturers are driving significant growth, bolstered by lower barriers to entry, expanding emerging channels, and a shifting preference for value-oriented and premium private-label offerings. These companies have gained traction through their ability to adapt quickly and meet niche consumer needs in an increasingly competitive market.

The research identifies five key focus areas as critical to CPG performance in 2024. Winning brands are engaging with increasingly fragmented consumer groups, leveraging social platforms and real-time feedback to drive personalized experiences. Brands offering differentiated products that balance quality, affordability, and purpose resonate strongly with today’s consumers. From co-branding to exclusive retail partnerships, strategic collaborations are extending market reach and driving innovation. Leading brands are addressing the harmonized wellness needs of consumers, including for physical, mental and social well-being. Lastly, organizations with a shared mission, enhanced by AI-driven innovation and agility, are cultivating cultures that sustain growth.

Companies prioritizing consumer needs and fostering authenticity are thriving in 2024. From premium experiences and sustainable packaging to tailored wellness initiatives, organizations investing in personalization are building lasting connections and brand loyalty. Circana’s research further highlights the power of digital and social media platforms in igniting consumer trends.

Unilever was one of the top five companies among $8 billion-plus companies with leading sales growth and market share performance. Chomps beef sticks was one of the companies in the $100-$500 million group.

Source: Circana LLC