CPG Industry Drives US Economy, Study Shows
The Consumer Brands Association released a study on the consumer packaged goods industry’s growing economic footprint across the United States.Conducted by PwC, the study found that the CPG industry is the largest manufacturing sector by employment. It supports 22.3 million jobs, which is almost three times the population of New York City and contributes $2.5 trillion — or nearly 10 percent — to the U.S. economy, which is more than Canada’s 2023 total gross domestic product.
“As one of the nation’s top job creators, the makers of the products consumers choose and the brands they trust play a crucial role in our national economy,” said Genna Gent, executive vice president of industry engagement for Consumer Brands. “When you look at how many jobs our industry proudly supports to make the food that families serve at the dinner table or the household and personal care products we use every day – from the scientist ensuring product safety, the farmer growing wheat for bread or the trucker on the road to the retailer, it’s clear the human-powered CPG industry has a massive impact on the economy.”
The study examined the total contribution of the CPG industry, including employment, labor income and economic value added, at the national, state and congressional district levels in 2022.
According to the study, the industry directly and indirectly supports:
- 22.3 million jobs, or 10.5 percent of total U.S. employment.
- $1.5 trillion of labor income, including $195.2 billion directly, which is a 30 percent increase in CPG wages over five years.
- $2.5 trillion in U.S. GDP, accounting for nearly 10 percent of the national total.
“Each one of the 22.3 million jobs the CPG industry supports is part of a greater purpose — contributing to the industry’s commitment to delivering for consumers every day — and the results can be found in nearly every American household,” Gent said. “The findings in this report also reinforce the need for federal and state policies that facilitate job creation, spur innovation and build consumer trust.”
The Consumer Brands Association champions the industry that makes the products you choose and the brands you trust. From household and personal care to food and beverage products, the consumer packaged goods industry plays a vital role in powering the U.S. economy, contributing $2.5 trillion to U.S. GDP and supporting 22.3 million American jobs.
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