– Projected sector revenue growth, 2020 to 2025: 64.2%
– Global revenue forecast 2025: $791.6 billion
Sales of grocery and personal care products experienced the most growth in 2020, and that trend is forecast to be fairly sticky.
In 2020, Walmart, Kroger, Tom Thumb, and other grocers doubled down on online ordering, delivery, and curbside pickup offerings. The rapid shift was mostly driven by health concerns amid the pandemic, but the move to e-commerce had begun prior to COVID-19’s arrival in the U.S.
Snack food giant Frito-Lay launched a direct-to-consumer site in mid-2020. Hygiene products like toilet paper and tampons were also in high demand in 2020 and ordered online.
Startups in the personal care space have already seen tremendous growth since 2020 as they ride the direct-to-consumer wave. Thinx, which makes underwear for menstruation, caught the attention of Kimberly-Clark, which acquired the company in February 2022. In the beauty space, Sephora has also leaned into online sales and is adding one-day shipping in 2022.
Statista data forecasts these goods will see the fastest growth over the next five years compared with any other segment, thanks in part to the running start they received during pandemic lockdowns.
This story originally appeared on Wicked Reports and was produced and distributed in partnership with Stacker Studio.