Trends That Shaped the CPG Industry in 2024: Innovation in Private Label and Sustainability

As 2024 wraps, the consumer packaged goods (CPG) industry witnessed transformative shifts driven by innovation, sustainability, and evolving consumer preferences. In a recent discussion with Jessie Wright, VP of Product Intelligence, SPINS explored some of the standout trends of 2024 and what’s to come in the year ahead. 

One of the most notable developments of 2024 was the continued growth of private label brands, particularly those embracing cutting-edge innovation. Wright observed that while private labels had been steadily gaining ground over the past few years, 2024 saw them take a leap forward. Retailers introduced new private label products that mirrored the trends found in the emerging CPG brand landscape—particularly those focused on bold packaging and fresh aesthetics. 

A playful term, “yassification,” emerged to describe this trend—referring to a fresh, modern makeover of traditionally utilitarian packaging. This shift, according to Wright, redefined private label offerings, making them more competitive with premium products. As price-conscious consumers seek value without sacrificing style or quality, private label brands have become increasingly appealing. 

Sustainability was another defining theme in 2024, with significant strides made in both product development and packaging. Wright highlighted the surge in sustainable packaging across the industry, with more products featuring refillable bottles and eco-friendly materials. From olive oil brands to personal care products, the shift to reusable and recyclable packaging is becoming the norm on grocery shelves. 

Wright sees this as an enduring trend. As the demand for sustainable options grows, more brands will likely innovate in this space, incorporating materials like aluminum cans, glass bottles, and even novel packaging ingredients designed to reduce plastic usage. 

Looking ahead, Wright believes these trends will not only persist but continue to evolve. The innovation in sustainable packaging is poised to expand, with more brands adopting refillable systems for everyday pantry staples. Additionally, we can expect to see more experimentation with alternative packaging materials that enhance recyclability and minimize environmental impact. 

The private label sector will also maintain its upward trajectory, as these brands continue to meet consumers’ expectations for both affordability and quality. In a climate where economic concerns remain at the forefront for many shoppers, private labels are positioned to thrive by offering high-quality products at competitive prices. 

Both trends—sustainable packaging and private label innovation—are expected to stay, with each one deeply embedded in the fabric of 2025’s CPG landscape. 

2024 was yet another exciting year in CPG centered around innovation, sustainability, and rising to meet changing consumer preferences. Brands “yessified” their products and consumers let their values drive purchasing habits. As the CPG industry enters the new year, the emphasis on sustainability and private-label innovation is more than just a passing phase.