Future-proof your business with Mintel’s US Private Label Food and Drink Market Report. Inside the full report, you’ll be provided with consumer-led market intelligence that outlines the trends and behaviours affecting your industry, alongside data-driven recommendations that help you to benchmark and align your strategy with other private-label food and drink market professionals. Below, we’ve handpicked some key insights from the full report.
Private label’s share of total food and drink sales jumped in 2022, propelled by rising grocery prices. The long-term outlook is also positive, as a new generation of shoppers who are less brand-loyal emerge.
Private label market size: Total US multi-outlet sales of private label food and drink increased by 15.5% in 2022.
More than eight in 10 shoppers agree that a good experience with one store brand makes them more likely to try another. So brands will need to focus on delivering a positive experience for the consumer in order to encourage sustained growth.
30% of shoppers aged 18-34 would purchase more store-brand products that featured sustainable sourcing. Private-label products are becoming an increasingly important platform for retailers looking to enhance their own sustainability profiles.
Over half of consumers are now cooking at home more frequently than they were a year ago. Naturally, a key opportunity for growth lies in products that simplifies or enhances home cooking for the consumer.
Purchase our full report to reveal our expert’s analysis and comprehensive list of innovation opportunities and discover how your business can connect with consumers and grow during times of financial uncertainty.
This report, written by John Owen, a leading food and retail analyst, delivers in-depth commentary and analysis to highlight current trends in the US private label industry and add expert context to the numbers.
Inflation has given private label food and drink a big short-term boost as shoppers have looked for ways to stretch their grocery budgets. To maintain growth in the long run, however, retailers will need to continue evolving store brands beyond savings alone. Private label offers a unique opportunity for retailers to meet shopper needs and build brand equity.
John Owen
Associate Director – Food and Retail
Mintel is the world’s leading market intelligence agency. We show you how consumers think today and tomorrow. As a trusted partner to industry leaders, we deliver game-changing insights to businesses across the globe, fuelling their marketing and innovation strategies that will shape the future.
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