European Private Label Sales Reach €340Bn as Retailers Cater to Consumer Lifestyle Changes
European private label sales reached a record €340 billion in 2023, according to data from the Private Label Manufacturers Association (PLMA). Private label sales accounted for 54% of total market growth last year, and now make up 38.5% of the grocery market’s total value. The turnover of private label brands grew by 13% in 2023 — more than double the rate of manufacturers’ brand sales. Citing a a McKinsey report, vegan trademark V-Label argues that this is partially because supermarket brands are catering to consumer lifestyle changes. While the first wave of private label products mainly aimed to provide a budget option, the second wave involved launching product lines such as vegan, organic, and free from, along with premium ranges. By targeting health-conscious consumers, many …
