Top 100 Consumer Goods Companies of 2024

The Top 100 Path to Innovation: Consumer Goods Companies Balance Cost Pressures and Bold Investments

The drive for innovation has become more crucial than ever in the consumer goods industry. Faced with continued market challenges, staying competitive means anticipating and adapting with a vision for long-term sustainability and growth through bold investments in technology, operational efficiency, and cutting-edge consumer engagement strategies. 

CGT’s Top 100 Consumer Goods Companies ranks industry leaders based on their 2023 fiscal year revenue, offering an annual snapshot of the state of the consumer goods sector. The ranking is compiled from the financial reports of publicly traded companies (see methodology below) and serves as a valuable resource for our audience to track industry trends and identify both top performers and those facing challenges. Here we’ve spotlighted the top 10 companies, highlighting the technology and operational investments they’re making to maintain, advance, or even dominate their positions in the market.

We found that in fiscal year 2023, manufacturers needed to balance cost-savings to stave off an expensive, inflationary market in which many consumers prioritized value over brand, while also investing in innovation to keep up with quickly shifting consumer trends and advancing technologies. Challenges included continued supply chain issues, higher commodity prices, continuing global inflationary conditions, and resulting consumer push-back to higher retail prices. Food companies seemed to face the most challenging environments as consumers trimmed their grocery budgets and sought cheaper alternatives. To streamline operations, increase productivity, and improve differentiation, CPGs increased their adoption of digital tools and tech-powered processes. This included artificial intelligence, often selected for its ability to significantly boost efficiencies, and automate tasks through more intensive data gathering and processing. More companies began exploring generative AI, often drawn by the potential to take off the manual weight from content creation and image optimization while keeping consumer engagement a priority.

As part of operational shifts, multiple Top 10 companies made major C-suite changes, consolidating functions and regions to strike down siloed business approaches and lean more heavily into collaborative leadership. 

A few years ago, we transformed the Top 100 into a more visually engaging format, moving beyond a basic table to something more dynamic and impactful. This year’s design continues to organize companies by category and revenue. However, we also recognize that simplicity often works best for conveying information, so we’ve once gain made the Top 100 data available as a downloadable table below for easy access.

CGT has provided the Top 100 to its audience for two decades, and we’re always looking to improve upon its value. If you have any feedback on how we can do that, please reach out.