Launching new products in the fast-paced market for consumer packaged goods (CPG) is very much a game of hit and miss. Thousands of new products hit the shelves every year, but only few of them truly stand out. IRI, a market research group focusing on consumer packaged goods, recently announced last year’s most successful product launches in the industry, breaking them down by food, non-food and convenience store brands.
The non-food segment was dominated by FLONASE, an anti-allergy nasal spray, which racked up $316.5 million in sales in its first year as an over-the-counter medicine. Median year-one sales by the 100 best performing non-food brands amounted to $17.6 million in 2016 compared to $11.4 million for food and beverage brands. In total, the 200 top-selling brands generated $5.8 billion in new product sales in 2016, illustrating the importance of constant innovation in the CPG industry.
These Brands Set the Bar for Product Launches in 2016
Consumer packaged goods
Description
This chart shows the Top 10 non-food CPG brands in terms of new product sales in the U.S. in 2016.
