Private Label Food Market Latest Trends and Future Growth Study by 2028 | Kraft Heinz, Costco, Danny Meyer
Private Label Food Market – Introduction
Over the past few years, private label food brands have witnessed a substantial growth as they provided convenient, compelling and affordable alternatives to consumers. Private label food products fit well in the rising consumer demand for premium and healthful products, thereby propelling the growth of the private label food market.
Private label food penetration within the consumer packaged goods (CPG) category has increased to a greater extent wherein demand for private label food sales have outnumbered that of national brand food products. The status-quo is expected to continue in the future with private label food products dominating the grocery aisles.
Food that is produced by a contract or third-party manufacturers and sold under a retailer’s brand name is usually called a private label food. The private label food market is expected to grow at a significant pace in the coming years with food giants extending their reach in both private label foods and branded food products.
Private Label Food Market – Notable Developments
Key manufacturers in the private label food market are Duke Foods, ABS Foods, Sky Valley Foods, Chipotle, Hasselback, Walmart, Kraft Heinz, Costco, Danny Meyer and Whole Foods.
- In September 2018, Natural Grocers, a leading retailer of natural and organic products launched a new line of Natural Products Brand Products that are premium quality private label products. The new line of private label food products includes over 35 different new items in 10 categories.
- Amazon launched private label food for pets – Lifelong Complete in Europe in November 2018 and Wag Brand Cat Food in January 2019. Amazon has a limited foothold in the private label food category and has plans to continue its penetration in the private label grocery space.
- In July 2018, Walmart, an American multinational retail corporation launched Winemaker Selection of private label wine brand in its 1,100 stores.
- In February 2019, the Dubai World Trade Center (DWTC) announced its plans to launch Private Label & Liscensing Middle East (PRIME) with an aim to expand the Gulfood stable of B2B industry events.
Private Label Food Market Dynamics
Private Label Food Sales On the Rise as Consumers Preference Shift to Private Brand
The popularity of private label has increased meteorically with grocery shoppers relying heavily on private label food products on the back of increasing consumer demand. In a bid to win over the fierce competition, food retailers are embracing the innovations in the private label food brands. They are also engaged in merchandising and promotion activities to accommodate the increasing penetration of private label foods across grocery retailers.
Private Label Food Manufacturers Focusing on Innovation
With the increasing demand for private label foods, traditionally, food and beverage manufacturers are engaged in developing a repetatitve line of products that win popularity among consumers. However, with the intensifying competition, manufacturers are shifting from merely mimicking the production to introducing innovations in the private label food marketplace. As private label food products enable retailers to stand out in the market, manufacturers are engaged in developing premium, relevant and superior private label food products.
Private Label Food Products Aid Retailers to Stand Out
Private label products have been an integral part of the retail shelves. Although it isn’t new, the popularity of private label food products has spiked on the back of consumer sentiments that categorize private label food products as a high-quality, affordable and smart choice. With that, retailers observe that a distinct private label food offering becomes a reason for customer comeback. Also, the success of the private label food gives manufacturers a scope to refine the product as per consumer satisfaction, thereby maintaining the exclusive nature of the offering.
Private Label Food Market – Segmentation
The private label food market analysis covers the study of online and offline offerings of private label foods. Also, the private label food market research includes the study of the private label food market in six key regions including North America, Latin America, Europe, Asia Pacific excluding Japan (APEJ), Japan, and Middle East and Africa (MEA).
About TMR Research:
TMR Research is a premier provider of customized market research and consulting services to business entities keen on succeeding in today’s supercharged economic climate. Armed with an experienced, dedicated, and dynamic team of analysts, we are redefining the way our clients’ conduct business by providing them with authoritative and trusted research studies in tune with the latest methodologies and market trends.
3739 Balboa St # 1097,
San Francisco, CA 94121