The Carlsquare Consumer Monitor 2026 draws on responses from founders, executives and investors active in the European consumer sector, across Beauty & Personal Care, Sports & Outdoor, Animal Care & Pet Food, Consumer Health & VMS, Education and Consumer Tech, Premium & Specialty Retail, Home & Living, and Food & Beverage.

The findings paint not a uniform market – but one evolving at very different speeds depending on the segment.

Key findings

Are investors more cautious than founders?

Investors are slightly more cautious compared to founders, but this gap is not surprising: investors and operators assess riskand return from structurally different vantage points. What matters is that both groups view the market as functional – not impaired.

Which sector will lead 2026 M&A?

Health & Wellness stands out as the segment with the clearest momentum and where the market expect to see the highest M&A activity in 2026 – a clear signal of where capital and strategic
attention are converging.

Is the consumer M&A market attractive right now?

On the buy side, investors are actively or exploratively seeking acquisition targets. On the sell side, founders are keeping exit options open. Diverging valuation expectations between buyers and sellers remain a natural feature of any transaction market, not a structural barrier to dealmaking.

How are brands using AI without losing trust?

AI is playing an increasingly important role in brand communication, though not as a replacement for human credibility. Consumer brands favour a combination of AI-driven reach and human-led brand presence.

What are investors looking for in consumer brands right now?

Investors are looking for brands with defensible positioning – community and loyalty lead, followed by overall brand strength. ESG is no longer a primary selection criterion in this investor cohort.

When will consumer confidence recover?

When consumer confidence will meaningfully recover remains uncertain. Precise timing matters less than positioning: segments with clear demand, strong community ties and profitable growth are already transaction-ready today.