Trends That Shaped the CPG Industry in 2024: Newtopia, Brand Collabs, Mushrooms and More

As the consumer packaged goods (CPG) industry navigates an evolving landscape, 2024 has proven to be a year of strategic growth, collaborative innovation, and consumer-driven product development. Insights from market leaders at New Hope Network and SPINS reveal an industry reshaping itself through emerging brands, intentional partnerships, and ingredient-led product evolution. 

Newtopia Now, New Hope Network’s latest trade show launched in Denver this August, emerged as a cornerstone event spotlighting emerging CPG brands. The show focused on fostering meaningful partnerships between brands and retailers—a crucial strategy in a market where raising capital and securing shelf space remain challenging. 

This emphasis on collaboration extended beyond the trade floor. Emerging brands demonstrated that intentional, patient approaches to retail readiness can yield long-term success. Smart growth has become the defining mantra, with brands balancing market entry ambitions against the realities of scaling in a competitive environment. 

In terms of product development, several trends gained traction throughout the year. Functional ingredients like mushrooms continued to dominate, reflecting sustained consumer interest in wellness-oriented products. Mushrooms, long popular for their adaptogenic and nutritional properties, permeated categories from supplements to snacks. 

Protein fortification emerged as another defining trend. Brands infused protein into diverse products, including pasta, pancake mixes, and ready-to-eat meals, catering to consumers seeking functional nutrition in everyday staples. 

The kids’ product category experienced notable expansion, with brands offering innovative, health-forward solutions tailored to younger consumers. Similarly, artisanal goods saw an evolution, with brands elevating craft production into visually stunning, premium products. 

Sustainability, particularly in packaging, has moved from aspiration to necessity. While eco-friendly packaging has been an industry talking point for years, 2024 marked a turning point where sustainable solutions gained broader traction. This momentum suggests that environmentally conscious design will become a standard expectation rather than a market differentiator. 

Global flavors continued to shape product development, reflecting a desire for culinary discovery and authenticity. The “modern pantry” has evolved to include gourmet takes on traditional staples, blending international influences with premium ingredients. 

As CPG brands adapt to these evolving consumer preferences, the future promises a dynamic interplay between product innovation, sustainability, and market strategy. With emerging brands at the forefront and collaborative ecosystems driving growth, the industry’s trajectory appears poised for continued reinvention in the years ahead. 

The CPG industry showcased resilience and innovation, driven by collaboration, ingredient-focused products, and sustainability in 2024. Emerging brands and intentional partnerships set the stage for a future defined by creativity and consumer-centric growth.