US CPG Industry Ad Spending 2024

2-Year Rebound for the Second-Largest Ad Spender Continues but Will Tail Off Next Year

Report by Ethan Cramer-Flood  | Oct 2, 2024
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Executive Summary
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Table of Contents
Executive Summary
The CPG industry will spend nearly $50 billion on digital advertising in 2024, second only to retail
CPG leans into display and mobile ads and away from traditional media ads
Toiletries and cosmetics and food dominate CPG digital ad spending, but the growth will come from beverages
Media Gallery
About This Report
The second-largest digital advertiser among industries will post strong ad spending growth in 2024, but deceleration is on the horizon, and its various subcategories have starkly different outlooks.
Topics
Digital Advertising
Groceries & Consumer Products (CPG)
US
Table of Contents
Executive Summary
The CPG industry will spend nearly $50 billion on digital advertising in 2024, second only to retail
CPG leans into display and mobile ads and away from traditional media ads
Toiletries and cosmetics and food dominate CPG digital ad spending, but the growth will come from beverages
Media Gallery

The consumer packaged goods (CPG) industry will spend nearly $50 billion on digital advertising this year, a figure bested by only the retail industry. Growth will be excellent for the second year in a row, but the 2025 outlook is more pedestrian. Among CPG subcategories, toiletries and cosmetics will spend the most.

Key Question: How much will the CPG industry and its subcategories spend on digital advertising this year and out to 2026?

US Consumer Packaged Goods (CPG) Digital Ad Spending, 2021-2026 (billions, % change, and % of total digital ad spending)
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Key Stat: After nearly flat-lining in 2022, CPG industry digital ad spending will see a second consecutive year of strong growth in 2024 (16.6%). But a spending deceleration is on the horizon.

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Table of Contents

  1. Executive Summary
  2. The CPG industry will spend nearly $50 billion on digital advertising in 2024, second only to retail
  1. CPG leans into display and mobile ads and away from traditional media ads
  2. Toiletries and cosmetics and food dominate CPG digital ad spending, but the growth will come from beverages
  1. Media Gallery

Charts in This Report

US Consumer Packaged Goods (CPG) Digital Ad Spending, 2021-2026 (billions, % change, and % of total digital ad spending)The CPG Industry Will Be the Second-Largest Digital Ad Spender This Year (% of US total digital ad spending, by industry, 2024)
US Consumer Packaged Goods (CPG) Digital Ad Spending, by Format, 2022-2026 (billions)The CPG Industry Leans Into Mobile Advertising More Than Most Other Industries (mobile vs. nonmobile % of US total digital ad spending, by industry, 2024)
The CPG Industry Has Pulled Away From Traditional Media Advertising More Than Most (digital vs. traditional % of US total media ad spending, by industry, 2024)US Consumer Packaged Goods (CPG) Digital Ad Spending Growth, by Subcategory, 2024 (% change)
US Consumer Packaged Goods (CPG) Digital Ad Spending Share, by Subcategory, 2024 (% of total CPG digital ad spending)US Consumer Packaged Goods (CPG) Digital Ad Spending, by Subcategory, 2022-2026 (billions)

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authors

Ethan Cramer-Flood

Contributors

Nikolai Dineros
Zach Goldner
Forecasting Analyst
Penelope Lin
Director, Data Visualization
Evelyn Mitchell-Wolf
Senior Analyst, Digital Advertising & Media
Oscar Orozco
Director, Forecasting
Emman Velasco
Chart Editor
Julia Woolever
Yoram Wurmser
Principal Analyst