Private Label Sales Rose 3.9% in 2024, Outpacing National Brands
Sales of store brand products rose 3.9% last year, outpacing the 1% growth by national brands, according to Private Label Manufacturers Assn.’s data from Circana.
Private label product sales in all categories increased $9 billion to a record $271 billion in all outlets from Jan. 8-Dec. 29, 2024, versus the same period in 2023. Over the past four years, annual store brand dollar sales have increased by more than $51 billion, a 23.6% gain. In addition, since 2021, store brand unit sales rose 2.3%, while national brands fell 6.8%, according to PLMA.
All 10 food and nonedible departments that Circana tracks showed store brand dollar growth over the year before. Refrigerated (+7.5%), General Food (+4.3%) and Beverages (+4%) had some of the highest dollar sales growth. In unit sales growth, the top departments were Beverages (+3.5%), Pet Care (+3.5%) and Home Care (+3.3%).
PLMA also reported its 2024 Private Label Trade Show, held in suburban Chicago in November, closed with a record number of attendees -- 14,000 retailers, visitors, exhibitors and others from the store brand and retailing industries attended. It included 1,821 exhibitors from 60 countries, including 700 first-time exhibitors.
About the Author
Dave Fusaro
Editor in Chief
Dave Fusaro has served as editor in chief of Food Processing magazine since 2003. Dave has 30 years experience in food & beverage industry journalism and has won several national ASBPE writing awards for his Food Processing stories. Dave has been interviewed on CNN, quoted in national newspapers and he authored a 200-page market research report on the milk industry. Formerly an award-winning newspaper reporter who specialized in business writing, he holds a BA in journalism from Marquette University. Prior to joining Food Processing, Dave was Editor-In-Chief of Dairy Foods and was Managing Editor of Prepared Foods.