The private-label food and beverage sector is experiencing robust growth as more consumers globally seek to save money on grocery bills. Recent studies indicate that 70% of consumers actively seek ways to cut costs when purchasing food and beverages. Europe has dominated this sector in the last five years, accounting for 63% of all private-label food and beverage product launches. Specifically, West Europe has been responsible for 51% of the launches, while East Europe has shown promising growth at a CAGR of +26%.
In terms of individual countries, the United States and the United Kingdom are tied for the highest number of private-label launches, each accounting for 11% of the total private-label products launched between 2018 and 2022. The other top performers in this category include France, Germany and the Netherlands, with a 7%, 7%, and 6% share, respectively, confirming that private label is mainly a European trend.
When examing top companies, Lidl (9%) and Aldi (7%) are the leading private label companies based on product launches. With a CAGR of +5% between 2018 and 2022, private labels are actively courting the price-conscious consumer, but beyond cost, it remains vital to promote the nutritional proposition. Consumers seek strong nutritional messaging and a focus on simple solutions.
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