The Innovation Barometer, powered by BASES Innovation Measurement, quickly identifies, categorizes, and measures innovations, to bring you a monthly update on the most active players in CPG innovation, what’s up, what’s down, who’s winning, who’s losing and more.
July 2023 edition
What is the current state of innovation in the CPG industry?
BASES Innovation Barometer uses NIQ sales data to give you an overview of innovation activity and performance across six key super-categories: food, confectionary and snacks, beverages, alcoholic beverages, home care and personal care.
In our latest update, we see a drastic decrease across the total market with over 1500 less innovations launched compared to our previous update. When looking into individual categories, we see that innovations are down across the board compared to 12 weeks and a year ago – with Food, Confectionery & Snacks and Non-Alcoholic Beverages being the only categories showing increases.
When looking at the highest number of innovations sold on promotion, Non-Alcoholic Beverages once again holds the top spot in our latest update. Personal Care is showing the highest innovation average in velocity while Home Care continues to have the highest innovation contribution to total sales between all categories.
Category with highest number of innovations sold on promotion
Category where innovations have the highest average velocity
Highest innovation sales contribution to total value sales
Innovations have contributed to 7.2% of total sales between all six key super-categories, which is a slight decrease from our last update. We must also highlight Home Care for the fifth consecutive month as the category where innovations have contributed to over double the industry average at 17%.
Looking at Innovation Sales on Promotion, between all the categories, 27.5% of total innovation sales came from promotional pricing. This is an increase from our last update.
Looking at the most active brand owners in innovation over the past 12 weeks, Mars has overtaken Procter & Gamble for the top spot with 138 innovations launched. PepsiCo and Church & Dwight enter the top 5 of active brand owners in this month’s update.
5 most innovation active brand owners
Food + Confectionery & Snacks
Home Care + Personal Care
Procter & Gamble
Confectionery & Snacks
Non-Alcoholic Beverages + Food
Church & Dwight Co., Inc.
Innovation market at a glance
Overall, in comparison to the previous quarter, consumers are spending less on consumer-packaged goods with decreases in total sales by 4.1% and innovation sales at 11.8%.
The total number of products available in the market across all categories dropped in this update at a rate of 1.6%, while innovations saw an 1.5% increase in product availability.
The average eq price, in both total market and innovations, has seen a slight increase in Q1 at 0.4% and 0.1% respectively.
Overall, average item velocity and innovation item velocity both showed decreases this update at 1.6% and 6.8%.
Would you like to know more about how your category is performing?
Download previous month’s update
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