2025: Leading Consumer Packaged Goods Producers in the U.S.A. Unveiled on Our Site
The consumer packaged goods (CPG) sector in the United States experienced a mixed bag of financial results in 2024, with some manufacturers reporting growth while others faced declines. According to the latest IndustryWeek’s IW U.S. 500 ranking, the top 10 CPG manufacturers for 2025 are led by industry giants, with revenues reflecting their 2024 financial results.
Procter & Gamble Co. remains the leader, with revenue just over $84 billion in 2024. Colgate-Palmolive, with a revenue growth of 3.3%, was the top revenue gainer among the top 5 CPG manufacturers, demonstrating solid financial performance despite broad market challenges.
However, Clorox, ranked 6th among CPG makers, faced a 4% revenue decline as it recovered from a 2023 cyberattack that impacted its finances. Despite this setback, Clorox's 4% drop shows a solid recovery for a manufacturer that spent a good portion of 2024 working to recover from the damages of the cyberattack.
Revenue growth among the top 10 manufacturers was generally modest; two of the top five showed slight declines of less than 2%. Overall, eight of the 17 top CPG manufacturers reported revenue decreases in 2024, while only three experienced double-digit growth.
Financial performance pressures are evident with nine out of the top manufacturers reporting double-digit net income declines, and one reporting a net loss for the fiscal year. This reflects industry-wide challenges including inflation, supply chain issues, and evolving consumer preferences.
The combined revenue of the top 17 CPG manufacturers totals close to $200 billion, indicating the scale of this sector within the U.S. manufacturing landscape. The smallest among them, e.l.f. Beauty Inc., reported revenues of $1.3 billion, illustrating a wide revenue spread.
The market dynamics in 2025 are shaped by consumers increasingly favoring local brands over global ones, especially in the U.S. and Canada, impacting multinational CPG firms' strategies. There is also a growing emphasis on sustainability, clean label products, and innovation, which affects product development and consumer demand, shaping the competitive landscape. Trade policy influences on domestic production, with industry groups advocating for support of U.S.-based manufacturing to sustain employment and economic contribution, are also significant factors.
For more detailed information about the Top 10 consumer packaged goods firms, please refer to the interactive table below or the slideshow on our website. The 2025 U.S. 500: Top Automotive Companies can also be found on the website.
- The solid financial performance demonstrated by Colgate-Palmolive, with a revenue growth of 3.3%, indicates the resilience of some manufacturing businesses within the consumer packaged goods (CPG) industry, despite broad market challenges.
- Financial pressure in the CPG industry is evident, as shown by nine out of the top ten manufacturers reporting double-digit net income declines and one reporting a net loss, due to factors such as inflation, supply chain issues, evolving consumer preferences, and industry-wide financial performance pressures.
