Private Label Sales 2024 Reach Record Highs

Private Label Sales 2024 reached a record $271 billion, reflecting a $9 billion increase from the previous year. This surge highlights consumers’ growing preference for store-brand products over national brands. The latest data from PLMA and Circana show that private label sales outpaced national brands, reinforcing their market strength.

Key Takeaways for Retailers

Private label sales increased by 3.9%, surpassing national brands, which only saw a 1% rise. Growth occurred across all ten food and non-food departments tracked by Circana. Consumers continue to choose private-label products for their affordability and quality.

Fastest-Growing Store Brand Categories

By Dollar Sales Growth:

• Refrigerated: +7.5%
• General Food: +4.3%
• Beverages: +4%

By Unit Sales Growth:

• Beverages: +3.5%
• Pet Care: +3.5%
• Home Care: +3.3%

The Rising Importance of Private Label Products

Private label brands play a crucial role in the grocery industry, offering value amid inflation concerns. Consumers increasingly turn to store brands for quality products at lower prices. Retailers invest in innovation and branding to enhance private-label appeal.

PLMA President Peggy Davies emphasized:

“The quality, value, and innovation that store brands provide can’t be beat.”

Looking Ahead: Future Private Label Trends

The full 2025 Private Label Report from PLMA will be released in February. This report will provide deeper insights into category sales, trends, and future projections for private-label growth.

For more industry updates and trends, explore more news on this website.