Private Label Packaged Food Market Size, Share & Trends Analysis Report By Product (Baked Goods, Savory Snacks, Meals & Soups, Dairy, Confectionery), By Distribution Channel, By Region, And Segment Forecasts, 2024 - 2030

Private Label Packaged Food Market Size, Share & Trends Analysis Report By Product (Baked Goods, Savory Snacks, Meals & Soups, Dairy, Confectionery), By Distribution Channel, By Region, And Segment Forecasts, 2024 - 2030

Private Label Packaged Food Market Growth & Trends

The global private label packaged food market size was anticipated to reach USD 581.97 billion in 2030 and is projected to grow at a CAGR of 5.8% from 2024 to 2030, according to a new report by Grand View Research, Inc. The growing demand for health and wellness options, along with sustainability and ethical considerations, attract health-conscious and environmentally aware consumers. Retailer strategies, including control over shelf space and efficient supply chain management, further boost the attractiveness of private label packaged foods. These combined factors make private label products a significant and competitive segment in the market.

Consumer trust and loyalty toward retailers also play a significant role in the rising demand for private label packaged foods. As major retailers build strong brand identities, their private label products benefit from this established trust. Shoppers are more willing to try and adopt private label products from retailers they trust, knowing that these retailers have stringent quality control measures in place. Furthermore, the visibility and promotion of private label products within stores—through strategic shelf placement and promotional activities—have increased their accessibility and appeal.

The expansion of e-commerce and online grocery shopping has provided a significant boost to the market growth. Online platforms allow retailers to showcase their private label products prominently, often through curated selections and personalized recommendations. This increased online presence, combined with the convenience of home delivery, has made it easier for consumers to discover and purchase private label products, further driving their popularity.

In 2023, the sales of private label packaged food represent the largest share of the global market. The expansion of e-commerce and online grocery shopping has provided a significant boost to the private label market. Online platforms allow retailers to showcase their private label products prominently, often through curated selections and personalized recommendations. This increased online presence, combined with the convenience of home delivery, has made it easier for consumers to discover and purchase private label products, further driving their popularity.

Europe accounted for the largest share of the market and is estimated to expand at a significant CAGR over the forecast period. European retailers have been pivotal in driving the private label market. Major retail chains, such as Tesco, Lidl, Aldi, and Carrefour, have established extensive private label portfolios that offer a wide range of products. These retailers invest significantly in their private label lines, often prioritizing quality and innovation to compete with national brands. The strong presence of these retailers ensures that private label products are prominently featured and readily available to consumers.

Major players in the private label packaged food market include Walmart, Costco, Kroger, Trader Joe’s, Target, Aldi, Amazon, Albertson Companies, Loblaw Companies Limited and H-E-B. Various steps are adopted by these companies including global expansion, partnerships, acquisitions & mergers, development & launch of new products, and others to gain more share of the market.

Private Label Packaged Food Market Report Highlights

• Asia Pacific is expected to grow at the fastest CAGR over the forecast period. The COVID-19 pandemic has significantly influenced the shopping behaviors of consumers within Asian Countries, with many consumers shifting towards more cost-effective and reliable options. Private label products, with their balance of quality and affordability, have become a go-to choice for many households. The pandemic also accelerated the adoption of online grocery shopping, where private labels are often highlighted and recommended
• The dairy segment is estimated to grow at the fastest CAGR over the forecast period. The increasing demand for plant-based dairy is a major factor driving the market growth of private label plant-based dairy products. Consumers are becoming more health-conscious and environmentally aware, seeking alternatives to traditional dairy products due to concerns about lactose intolerance, animal welfare, and the environmental impact of dairy farming
• Based on distribution channel, the online segment is expected to grow at the fastest CAGR over the forecast period. Online retail offers unparalleled convenience, allowing consumers to shop for private label packaged food from the comfort of their homes. The ability to browse, compare, and purchase products online without needing to visit physical stores appeals to busy lifestyles

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