Newark, NJ, Nov. 17, 2021 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global private label food and beverage market is expected to grow from USD 8.16 billion in 2020 to USD 15.1 billion by 2028, at a CAGR of 8% during the forecast period 2021-2028.
The private label, food and beverage market, is witnessing significant growth from the past years. The high demand for on-the-go foods, increasing online food delivery system, and the increased demand for healthy food are the driving factors that help the private label food and beverage market grow. An element like the increasing prevalence of branded products among consumers is seen to hamper the growth of this market.
A private label product is a product that a third-party retailer produces but sells under its brand name. The retailer controls everything related to the product or products, including product specifications, packaging, and everything else. The private label products are then delivered to the retailer for sale. As far as consumers are concerned, they are "company brand" products. For example, a collaboration software vendor might launch a private label line for group calling devices. Another company will manufacture these products. However, it will be sold under the company's initial brand name. Private labelling is an option open to both online and offline retailers. It's where the vendor has lines manufactured to sell under their name and with their branding. The principal advantages of this lie in power it gives retailers. They control production, pricing, and branding. Taking on established brands and manufacturers, though, is no small undertaking.
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The market is growing due to various factors. Private label foods have progressed from their previous popularity of being lower quality but less expensive to sourcing branded foods and beverages. Buyers, hit by the economic downturn, began hoarding banners as a way to raise money. Thus, stores put resources into improving the quality, assembly, and breadth of private label items, making them a reliable competitor to widely known items. Due to the growing challenge of national brands, private label merchants are now rambling about offering a slew of higher recognition and strength categories, including Almond Milk, Banana Nuts, and Best For You ratings. Interest in claiming private brand contributions has increased among buyers recently in the United States. Thus, to take advantage of this opportunity, sellers of private brands offer omnipresent strengths to attract new buyers.
Key players operating in the global private label food and beverage market include Walmart Inc., Edeka Zentrale AG & Co. KG, United Natural Foods Inc., Dollar General Corp, Giant Food Stores LLC, Amazon.com Inc. And The Kroger Co. The global food and beverage market is fragmented. The major players have used various strategies like new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, etc., to increase their footprints in this market.
The food segment dominated the market and held the largest market share of 52% in the year 2020
Based on product, the global private label food and beverage market is segmented into food and beverage. The food segment dominated the market and held the largest market share of 52% in 2020. Food segment manufacturers focus on "on-the-go" food products to compete globally with already established food and beverage brands. The use of packaging solutions such as films, films, pouches, etc., and contract packaging by private label market players, is expected to help further towards the preferential shift of customers from branded food products to personal brand food products during the forecast period.
The online segment dominates the market and held the largest market share of 54.1% in the year 2020
Based on application, the global private label food and beverage market is segmented into online and offline. The online segment dominated the market and held the largest market share of 54.1% in 2020. The online food delivery system is the widely used distribution channel due to the various advantages it offers. Some of them are easy to market access, expand the market outside local customers quickly, and new customers can be easily targeted.
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Regional Segment of Private Label Food and Beverage Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and Rest of South America)
- The Middle East and Africa (UAE, South Africa, Rest of MEA)
Based on geography, the global private label food and beverage market is classified into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. The market specialises in international food and beverages in the North American region. The United States confirmed this growth in the North American area. As an advantage to clients, it improves their position in the market by providing data on the elements offered by the various institutions. In addition, the Nutrition and Beverage Statistical Survey report also includes data about upcoming patterns, difficulties, and difficulties that will influence the development of the market, which will help organisations create technologies to make a large part of the open development slots.
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About the report:
The global private label food and beverage market are analysed based on value (USD billion). All the segments have been analysed on a global, regional and country basis. The study includes the analysis of more than 30 countries for each piece. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insights into the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, and competitors' position grid analysis.
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