Estimated approximately USD 800 billion in 2019, the Consumer Packaged Goods (CPG), also known as Fast Moving Consumer Goods (FMCG), is one of the US’s largest sectors.
As an industry, CPG in the US has outperformed the S&P 500 (10.0 to 8.6) between 1985 and 2009. By 2020, the sector is expected to reach 721.8 billion in sales in the US. The growth has been made possible with rapid expansions overseas, portfolio adjustments, setting up production centers across the world, and of course, the rising economies of the US and emerging markets.
At the turn of 2020, the industry faces new challenges with changing trade regimes, changing consumer habits (value, green, and digital buying), rise of private (store) labels, direct-to-consumer brands, and consumerism paving the way to conscious consumption.
The decade will also witness a near 2-fold surge in the middle class in the Asia-Pacific region (1,740 to 3,228 million people) alone looking for the same products that CPG produces.
As we understand the sector, so do we appreciate your talent needs.
Traditionally, the CPG sector is known for its high turnover rates north of 40%. Also, the need for seasonal employment has contributed to staffing needs. Hence, to serve on such a global canvas and yet to be competitive and profitable, you need to address the staffing needs with the help of an able recruitment agency.
Since 2008, we have served many CPG leaders with information technology talent. The 100% retention and the compounded growth that we witnessed in this segment are a testimony to our standards, capabilities, and processes.