The packaged food private label market has demonstrated strong growth, increasing from $28.40 billion in 2023 to $30.22 billion in 2024, marking a CAGR of 6.4%. This growth can be attributed to improved product quality and consumer preferences for sustainable options. By 2028, the market is expected to reach $38.91 billion at a CAGR of 6.5%, driven by the increasing trust in private label brands.
Major Driver In The Packaged Food Private Label Market
The expansion of online shopping and e-commerce platforms is set to boost the packaged food private label market. E-commerce is thriving, driven by the demand for convenience, diverse product selections, and advancements in digital technology. Online platforms enhance the accessibility and appeal of packaged food private labels through competitive pricing and a wider variety of options. The U.S. Census Bureau reported that retail e-commerce sales reached $289.2 billion in the first quarter of 2024, reflecting a 2.1% increase from the previous quarter. This ongoing trend is expected to significantly benefit the packaged food private label market through 2024 and 2028.
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Packaged Food Private Label Market Competitive Landscape
Walmart Inc, Costco Wholesale Corporation, ALDI, Ahold Delhaize, Carrefour, Dollar General, Trader Joe's, Wegmans Food Markets, Giant Eagle, EDDY FOODS INC., Gehl Foods LLC, Giraffe Foods Inc., Giovanni Food Company Inc., GOOD FOOD GROUP A/S, Family Dollar, Fibro Foods, A&Y Food Industries, Aditifoods, Candor Foods Pvt. Ltd., Mahaan Milk Foods Ltd., Pemberton's Gourmet Foods, Taylor Gleason Enterprises
Key Packaged Food Private Label Market Trend
The packaged food private label market is shifting towards sustainability, with companies developing eco-friendly private food labels. For instance, in October 2023, Giant Eagle, Inc. relaunched its Nature's Basket brand with a focus on sustainable sourcing and production practices. This initiative responds to consumer demand for products that align with environmental, social, and governance (ESG) standards.
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Packaged Food Private Label Market Segmentation
The packaged food private label market covered in this report is segmented –
1) By Product Type: Bakery, Dairy, Meat, Condiments And Sauces, General Food, Water, Juice, Carbonated Drinks, Alcoholic Drinks, Other Product Types
2) By Distribution Channel: Super markets, Convenience Stores, Departmental Stores, Online Stores, Other Distribution Channels
3) By Application: Super markets Or Hyper markets, Online Or E-retails
By Geography:The regions covered in the packaged food private label market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Europe was the largest region in the packaged food private label market in 2023.
The Packaged Food Private Label Global Market Report 2024 furnishes information about the global packaged food private label market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
