CHICAGO — PIM Brands was selected as one of the top 15 fastest-growing consumer packaged goods (CPG) companies for the fifth time in 10 years. The annual study by IRI, a data analytics and market research company, and Boston Consulting Group, a consulting firm, selects small, medium and large CPG companies based on national growth in sales, volume and shares.
PIM Brands, a part of Promotion in Motion Cos. Inc., was named No. 13 of 15 small CPG companies with sales up to $1 billion. The company rolled out Welch’s Juicefuls Juice Filled Fruit Snacks in 2021 and recently launched Welch’s Zero Sugar Fruity Bites Snacks. According to the company, the new snacks helped drive growth.
“We are excited to be recognized for the fifth time in only 10 years among the group of CPG industry leaders and growth drivers,” said Michael G. Rosenberg, president and CEO of PIM Brands. “Our talented and passionate team of associates and vendor partners stepped up during 2021 despite supply chain challenges, as best as was possible, to optimize deliveries of our loved brands to retailers and consumers.”
2021 Trends
The study identified unexpected growth and current trends.
In 2021, CPG sales growth increased 2.7% due to increased pricing, inflation and reduced promotional activity. When compared to the 2020 findings—when consumer behavior during the beginning of the pandemic resulted in 10% CPG growth—a larger slowdown was expected this year, according to IRI and BCG.
“The results of our study demonstrate the beginning of a return to historical consumption trends and behaviors, though demand is elevated from the pre-pandemic period,” said Krishnakumar Davey, president of client engagement for IRI. “Findings also highlight that across large, midsized and small CPG companies, the 2021 growth leaders won by navigating the continued pressures of the COVID-19 consumer behavior and operational environments, while also responding to strong consumer trends.”
While 2020 saw record volume growth of 10.6%, 2021 CPG volume growth decreased 2%. There has been more significant growth than historical norms, however, in the past two years—compared to 2019, overall CPG volume sales grew 4.3% in 2021.
Large CPGs took pricing action in 2021 to gain market share for the first time in over five years, but small CPGs capitalized on continued supply constraints impacting competitors to expand their market share. This resulted in both large and small companies taking share from midsize companies.
This year’s growth leaders benefited off consumer trends such as self-care, convenient meals, indulgence and home care. The 2021 leaders also had operational success in pricing, supply chain fulfillment and omnichannel reach. In 2020, branded CPGs and private labels grew, but in 2021, branded CPGs grew more.
Top Companies
The following rankings are the small, medium and large CPG companies selected by IRI and BCG’s study.
| Large Companies | Medium Companies | Small Companies |
|---|---|---|
| 1. Red Bull | 1. Body Armor | 1. Alani Nu |
| 2. Procter & Gamble Co. | 2. AFC Brands | 2. Impossible Foods |
| 3. Constellation Brands Inc. | 3. The Boston Beer Co. | 3. Goli Nutrition |
| 4. Unilever | 4. Lancaster Colony Corp. | 4. Celsius |
| 5. The Hershey Co. | 5. Jack Links | 5. Upfield |
| 6. Reckitt | 6. Taylor Farms | 6. Natrol |
| 7. Mars Inc. | 7. Swedish Match | 7. Daisy Brand |
| 8. PepsiCo | 8. Chobani | 8. Barilla |
| 9. Nestle | 9. Energizer | 9. Foundation Foods |
| 10. Keurig Dr. Pepper | 10. L’Oréal | 10. Giovanni Rana |
| 11. The Wonderful Co. | 11. Kiss USA | |
| 12. The Simply Good Foods Co. | 12. Milo’s Tes Co. Inc. | |
| 13. Hostess Brands | 13. PIM Brands | |
| 14. Bang Energy | 14. Idahoan Fresh-Pak Inc. | |
| 15. HP Hood | 15. Pisa Farmaceutica |
Click here for the full report.
Park Ridge, N.J.-based PIM Brands makes chocolate and nonchocolate confections and other snack foods and treats, including Welch’s Fruit Snacks, Fruit Rolls and Juicefuls Fruit Snacks; Sun-Maid Chocolate Raisins; Original Gummi FunMix; Sour Jacks; and more.
IRI is a data analytics and market research company based in Chicago. It is a provider of big data, predictive analytics and insights that help CPG, health care organizations, retailers, financial services and media companies.
Boston Consulting Group, based in Boston, is an American global management consulting firm. BCG delivers solutions through management consulting along with technology and design, corporate and digital ventures.
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