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US CPG Industry Digital Ad Spending 2023
After 2 Difficult Years, Better Days Are on the Horizon
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?
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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%).
authors
Ethan Cramer-Flood
Contributors
- Cosima Balletti-Thomas
- Associate Forecasting Analyst
- Blake Droesch
- Analyst
- Oscar Orozco
- Director, Forecasting
- Paul Verna
- Principal Analyst
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