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?

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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Table of Contents

  1. Executive Summary
  2. The CPG industry is one of the highest spenders on digital advertising, but the 2023 outlook is shaky.
  1. Like most industries, CPG leans on display, video, and mobile advertising.
  2. Our debut forecast for CPG subcategory ad spending shows food companies playing the largest role.
  1. Media Gallery

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First Published on Sep 27, 2023


Ethan Cramer-Flood


Cosima Balletti-Thomas
Associate Forecasting Analyst
Blake Droesch
Oscar Orozco
Director, Forecasting
Paul Verna
Principal Analyst

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