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The CPG industry is one of the highest spenders on digital advertising, but the 2023 outlook is shaky.
Like most industries, CPG leans on display, video, and mobile advertising.
Our debut forecast for CPG subcategory ad spending shows food companies playing the largest role.
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About This Report
For the second year in a row, the US CPG industry will increase its digital ad spending more slowly than most other industries. However, a major growth rebound is in the cards for 2024.
The CPG industry is one of the highest spenders on digital advertising, but the 2023 outlook is shaky.
Like most industries, CPG leans on display, video, and mobile advertising.
Our debut forecast for CPG subcategory ad spending shows food companies playing the largest role.
Media Gallery
The US consumer packaged goods (CPG) industry will spend nearly $40 billion on digital advertising this year, a figure bested by only the retail industry. However, growth will be mediocre for the second year in a row. Among CPG subcategories, the food industry will spend the most.
Key Question: How much will the CPG industry and its subcategories spend on digital advertising this year and out to 2025?
KEY STAT: After two years of below-average digital ad spending growth, the CPG industry will increase spending by 12.9% in 2024, which will exceed the overall US digital ad spending pace (11.2%).
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Executive Summary
The CPG industry is one of the highest spenders on digital advertising, but the 2023 outlook is shaky.
Like most industries, CPG leans on display, video, and mobile advertising.
Our debut forecast for CPG subcategory ad spending shows food companies playing the largest role.
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