Report: Private label share grows to 18%
The dollar value share of private brand products, including food, beverage, beauty and personal care products, has increased from 17.5% in 2013 to 18% in 2018, according to new data from Report Buyer.
The increase has private label brands reaping more benefits in terms of the dollar value of sales due to factors such as increasing premium and specialty product offerings. Other factors such as perceived high quality and lower price than national brands are encouraging more consumers to purchase private label products confidently.
In addition, Report Buyer analysts are predicting that the private label food and beverage market will reach a compound annual growth rate of around 3% by 2023.
To read a summary of the report, click here.