Private-Label Food and Beverage Market in US 2019-2023 | Premiumization of Private-Label Food and Beverage Products to Boost the Market | Technavio
LONDON–(BUSINESS WIRE)–lt;a href=”https://twitter.com/hashtag/Beverage?src=hash” target=”_blank”gt;#Beveragelt;/agt;–A new market research study by Technavio on the private-label
food and beverage market in the US projects the market to
grow at a CAGR of close to 3% during the period 2019-2023. This research
report provides an in-depth analysis of the market in terms of revenue,
top drivers, and emerging market trends. It also includes detailed
insights and forecasts for all the market segments across different
geographies.
Premiumization of private-label food and beverage products
The demand and acceptance for private label brands is comparatively low
in the US when compared to European countries. Therefore, to increase
acceptance among consumers, various private-label brand vendors in the
US are focusing on the premiumization of these products. For instance,
Whole Foods Market in the US offers premium seafood products under its
premium private-label category, Whole Catch. Similarly, other
significant vendors offer their premium food products under the organic
category. Also, to attract consumers of varying income levels, many
grocery retailers have extended their range of private-label products
from economical products to luxury goods. Thus, the premiumization
strategy by private-label vendors will encourage more consumers to
purchase private-label food and beverage products during the forecast
period.
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Expansion of private-label brands into specialty products
Owing to the increased competition from national brands, private-label
vendors are now venturing across to a multitude of higher-value,
specialty categories, including almond milk, nut butter, and
better-for-you categories. The demand for specialty private-label
offerings among consumers has been increasing in recent years in the US.
Hence, to capitalize on this opportunity, private-label vendors are
offering specialty products that are well positioned to attract new
consumers and gain market share. These products are rolled out with
improved quality and greater alignment with consumers’ values.
Therefore, such product extensions will increase the shelf space of
private-label brands in the specialty category as well.
According to a senior analyst at Technavio, “Along with the expansion
of private-label brands into specialty products, many vendors are also
expected to offer their private-label brands through online channels to
extend their product reach all over the US. Thus, time-pressed urban
consumers are expected to readily purchase private-label food and
beverage products via e-commerce platforms, thereby driving market growth.”
Intense competition between private-label and national brands
The private-label food and beverage market in the US is highly
competitive due to the presence of various private-label and global
vendors. The national brands also have a stronger customer base with
higher brand reputation compared with private-label vendors. Thus,
intense competition between private-label vendors and national brands
might slow down the growth of the market in the US. However, with
private-label brand vendors in the US, focusing more on the
premiumization of these products, the market is expected to witness a
positive outlook during the forecast period.
Top players in the private-label food and beverage market in US:
- Amazon.com Inc.
- Costco Wholesale Co.
- Target Brands, Inc.
- The Kroger Co.
- Walmart Inc.
Some of the key topics covered in the private-label
food and beverage market in US include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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