SCHAUMBURG, Ill. — The Nielsen Co. projects that the top growth categories in 2020 will be driven by older, multicultural and low-income consumers, with ethnic health and beauty products, medications and remedies, health aids, vitamins and cooking essentials like flour, shortening, sugar, yeast and eggs benefiting.
Meanwhile, categories like toys and sporting goods, breakfast foods, baby care and pet products are expected to decline.
“It will be absolutely critical for CPG companies to adapt in order to gain the attention and brand loyalty of the aging Baby Boomers, multicultural families and lower-income consumers of the future,” said Doug Anderson, senior vice president of Global Research and Development at Nielsen, in a statement. “Those who keep doing what they’re doing today will be left behind.”
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