Constellation Brands and Celsius energy drinks top their revenue categories as leaders in the consumer packaged goods sector, Circana’s annual report on growth among CPG companies shows.
The 2024 U.S. CPG Growth Leaders report looked at strategies and trends behind the success of the top CPG companies, whose U.S. sales ranged from $100 million to more than $8 billion.
“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 adviser at Circana.
Constellation Brands was the growth leader among companies with revenues above $8 billion. The top five was rounded out by Coca-Cola Co., P&G, Unilever and Kimberly-Clark.
In the $2.5 billion to $8 billion category, Celsius energy drinks topped the list, followed by Chobani, Driscoll’s, Ferrara, and Froneri Ice Cream.
Circana said it found dynamics shifting as smaller companies and private labels focused on innovation and value-driven strategies.
Personalization appeared key in building consumer loyalty, with brands using everything from premium experiences and sustainable packaging to tailored wellness initiatives to attract customers, the research found.
“The 2024 Growth Leaders didn’t just adapt to challenges in the market; they set the pace for innovation,” Lyons Wyatt said.
Circana said success appears to be driven by community connections, comprehensive value, collaborative growth, a focus on multi-pronged wellness and company culture.
The research found winning brands leveraging social platforms and real-time feedback to engage consumers and drive personalized experiences. Balancing product quality, affordability and purpose also attracted consumers.
These companies, the research found, are no longer going it alone; instead, they’re developing exclusive retail partnerships with other brands to extend market reach and drive innovation. They also consider the wellness needs of consumers: physical, mental and social.
AI-driven innovation and agility are key in cultivating a positive culture and sustained growth, the research found.
“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,” Lyons Wyatt said.
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