2022 CPG GROWTH LEADERS
Each year, IRI partners with the Boston Consulting Group (BCG) on the annual Growth Leaders study, which analyzes the growth performance of hundreds of public and private CPG companies. In 2022, U.S. CPG omnichannel sales grew 8.4%, an increase from 2021’s 4.6% growth. With volumes declining 1.5%, 2022’s top growth companies won by delivering pricing-led growth while maintaining demand as consumers faced increased economic and inflationary pressures.
The report reveals the biggest growth companies for 2022 as categorized by large, mid-size and small companies. Overall, small CPGs continued to drive growth as large players and private label brands demonstrated strength in a high-inflation environment.
- Constellation (9.7% growth) led large companies in growth, with Upfield (30.9%) leading mid-size companies and the newly launched Prime Hydration leading small companies by capturing roughly one point of share within the sports drink category.
- Top performance drivers for growth leaders included double-digit pricing increases, digital and social-led brand development, and strong alignment with key consumer trends.
- Companies will win in 2023 and beyond by deploying a next-generation revenue management playbook, unlocking new pockets of demand, boosting operational effectiveness, and by staying opportunistic in pricing, portfolio management, and mergers and acquisitions.