Private-Label Food and Beverage Sales Set to Soar Past $56 Billion By 2011!
Posted on: Wednesday, 31 January 2007, 09:00 CST
NEW YORK, Jan. 31 /PRNewswire/ -- Leaving behind the nondescript packaging and "generic" identity of a decade ago, private-label or store-brand food and beverage sales are soaring, according to Private Label Food and Beverages in the U.S., a new report from market research firm Packaged Facts. The report estimates 2006 sales at more than $48 billion, and projects that sales will top $56 billion by 2011.
Dairy and grain foods lead the pack, with 2006 U.S. retail sales reaching more than $7 billion and $5 billion respectively. Yet these segments showed some of the slowest growth during the 2002-2006 period, unlike smaller segments such as pizza, which grew at a CAGR of 9.7%. In the beverage category, store-brand bottled water and energy drinks top the list, with bottled water growing by more than 12%. Only the juice segment showed an overall decline during the same period.
Market growth comes as no surprise as retailers and manufacturers have replaced the low-quality "generic" products with high-quality products and packaging that rival national brands. Report findings show that 41% of shoppers now identify themselves as frequent buyers of store brands, versus five years ago, when only 36% did. The current wave of high-visibility private-label products -- including organics and other premium fare -- has effectively contributed to both the building of brand equity and relationship building with core customers.
"The idea that a 'local' retailer can offer products as good or better than a national brand at a lower price only helps to build consumer confidence and loyalty towards the retailer," notes Don Montuori, the publisher of Packaged Facts. "The consumer gets a greater value and the retailer is more profitable."
Private Label Food and Beverages in the U.S. provides a comprehensive look at new product trends and selling trends with realistic growth projections. It offers competitive profiles of industry trend-setters, and looks at private- label consumer attitudes and purchasing behavior. Priced at $3000, this report can be purchased directly from Packaged Facts by visiting: http://www.packagedfacts.com/Private-Label-Food-1282369. It is also available at MarketResearch.com.
About Packaged Facts
Packaged Facts, a division of MarketResearch.com, publishes market intelligence on a wide range of consumer industries, including consumer goods and retailing, food and beverage, and demographics. For more information visit http://www.packagedfacts.com/, or contact Tom Ehart at 240-747-3014, or tehart@marketresearch.com.
Packaged Facts
CONTACT: Tom Ehart of MarketResearch.com, +1-240-747-3014,tehart@marketresearch.com
Web site: http://www.marketresearch.com/http://www.packagedfacts.com/
Source: PRNewswire
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