Ten Trends Expected To Drive Western Europe's CPG Market In 2016-2030, Report Says

Ten trends are expected to drive Europe's consumer packaged goods industry from 2016 to 2030, according to McKinsey & Company. Data from the market research firm's report, “Western Europe's Consumer Goods Industry in 2030,” revealed changes in consumer behavior, stagnating mass market, and fragmented niches of growth will force CPG companies to rethink their business and marketing strategies. Also expected to play important roles in determining the market's future directions are the increase in cross-channel shopping and continued growth of discounters, growing importance of online grocery and competition for digital placement, and changes in industry dynamics. Vertical integration and new business models, widening adoption of digital technology, cost leadership and consolidation, and external influences are also factors that CPG companies will have to deal with during the period covered by the report. To top it all, market stakeholders will also see an increase in government regulation of the industry.