Overview:
Consumer Packaged Goods (CPG) is an expansive industry that includes food and beverages as well as personal care items and household goods. Recently, CPG has seen significant transformations due to generative artificial intelligence (AI). Generative AI refers to a subset of machine learning focused on producing new data, content, or output rather than simply analyzing existing information – something the CPG industry is seeing first-hand thanks to generative AI’s influence in areas from product design through marketing strategies and supply chain management.
Global Generative AI in CPG Industry size is expected to be worth around USD 283.5 million by 2032 from USD 39.2 million in 2022, growing at a CAGR of 22.5%. during the forecast period from 2023 to 2032.
Key Market Segments
Based on the Solution Type
- Software Platforms
- Cloud-based Services
- API Integrations
Based on CPG Subsector
- Food and Beverages
- Personal Care Products
- Household Goods
- Other Subsectors
Based on the Application Area
- Product Development
- Marketing and Advertising
- Demand Forecasting
- Supply Chain Optimization
- Customer Insights
- Data Analytics
Market Key Players
- IBM Corporation
- Google LLC
- Microsoft Corporation
- Adobe Inc.
- NVIDIA Corporation
- DataRobot Inc.
- OpenAI
- Other Key Players
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