Published on : Feb 08, 2018
Albany, New York, February 8, 2018: A new research study offering information and analysis on the key trends in the private label food and drink industry in the U.S. has been added to the comprehensive repository of Market Research Hub (MRH). The study titled “Private Label Food and Drink Trends - US – January 2018” is a valuable source of information and guidance for stakeholders in the private label food and drink industry. The report offers in-depth information on a wide range of factors that are shaping the market, including market size and forecast, market perspective, food shopping priorities, and overall attitudes towards private label.
Private label food and drinks are widely consumed around the U.S., as in most cases, they are affordable than branded variants. Although, the price of some private label food and drinks has witnessed a spike in the past, affordability still remains one of the key driving factors for the growth of this market. According to the report, 2017 was a good year for private label food and drink products in the U.S., however, the long-term outlook is sluggish. A significant percentage of consumers had positive view of the private label food and drink products, but this positive perception did not always translate into buying behavior. Single-serve coffee, bottled water, and fresh cut salad were the private label products that were witnessing high demand from end-users. On the other hand, ready-to-eat cereal, and private label carbonated beverages were witnessing a decline in sales.
The report also offers a detailed and in-depth analysis on the key consumer behaviors. According to the report, commoditized categories accounted for a high revenue share of the overall private label purchases. A majority of consumers shopped for private label brands through supermarkets and mass merchants. Although consumers in the U.S. show preference for products that are affordable, taste and freshness also played a key role in buying behavior.
In addition to offering insights on the consumer profile, the report also gives readers recommendation and suggestions on boosting revenues and consolidating their position in the market. Increasing the number of categories could offer a platform for private label companies to boost sales. Further, the overall flat growth in the food and drink landscape in the U.S. is also reflecting on the private label category. To improve the prospects, private label companies can also reimagine the whole shopping experience and convert it into a more streamlined process. Overall, the report is a valuable source of information and insights and thoroughly analyzes the key trends shaping the private label food and drink market.
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