LatinVision Media News
Wednesday, March 17, 2010
Multicultural Consumers Driving CPG Trends
According to Nielsen’s projections, the top CPG growth categories in 2020 will include ethnic health and beauty products, medications and remedies, health aids, vitamins and cooking essentials, such as flour, shortening, sugar, yeast and eggs. The slowest growing categories will include toys and sporting goods, breakfast foods, baby care products and pet products.
The category shifts are directly tied to the changing face of American consumers. For many years marketers have relied on middle-class families as the primary target for many CPG products. However, by 2020 Nielsen predicts new challenges for CPG manufacturers and retailers due to fewer households with children, an aging population and the continued growth of lower-income consumers. While the aging population will be dominated by non-Hispanic Caucasian consumers, the majority of new families will be multicultural in less than two decades.
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