US CPG Industry Digital Ad Spending 2023

After 2 Difficult Years, Better Days Are on the Horizon

Report by Ethan Cramer-Flood  | UPDATED: Dec 22, 2023
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Executive Summary
The CPG industry is one of the highest spenders on digital advertising, but the 2023 outlook is shaky.
Like most industries, CPG leans on display, video, and mobile advertising.
Our debut forecast for CPG subcategory ad spending shows food companies playing the largest role.
Media Gallery
About This Report
For the second year in a row, the US CPG industry will increase its digital ad spending more slowly than most other industries. However, a major growth rebound is in the cards for 2024.
Topics
Groceries & Consumer Products (CPG)
United States
Table of Contents
Executive Summary
The CPG industry is one of the highest spenders on digital advertising, but the 2023 outlook is shaky.
Like most industries, CPG leans on display, video, and mobile advertising.
Our debut forecast for CPG subcategory ad spending shows food companies playing the largest role.
Media Gallery

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?

US CPG Digital Ad Spending, 2021-2025 (billions, % change, and % of total digital ad spending)
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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%).

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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

Charts in This Report

US CPG Digital Ad Spending, 2021-2025 (billions, % change, and % of total digital ad spending)US Digital Ad Spending Share, by Industry, 2023 (% of total digital ad spending)
US CPG Digital Ad Spending, by Format, 2021-2025 (billions)US CPG Video Ad Spending, 2021-2025 (billions, % change, and % of total CPG digital ad spending)
US CPG Digital Ad Spending Share, by Subcategory, 2023 (% of total CPG digital ad spending)US CPG Digital Ad Spending, by Subcategory, 2021-2025 (billions)

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First Published on Sep 27, 2023

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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