The consumer packaged goods (CPG) industry performed "significantly better" than the rest of the market in 2008, as measured by the S&P 500 and Dow Jones Industrial Averages -- besting both by at least 10 points, according to a study developed and released by the Grocery Manufacturers Association and PricewaterhouseCoopers LLP. Officials said the study also found that CPG manufacturer median sales grew approximately 10 percent last year, down just slightly from 2007 median sales figures.

The study found, in part, that...
... the food sector experienced sales growth of 10.2 percent, evidence that consumers are increasingly cooking and eating at home. The beverage sector followed with 9.9 percent sales growth.
... the food sector was the performance leader among the major CPG sectors in 2008 median shareholder returns.

"Given the CPG industry's laser focus on delivering value, innovation and investment in the future, it's no surprise that it appears to be weathering the economic cycle better than other sectors," said GMA President & CEO Pamela Bailey.