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During the first three months of this year, store brands picked up right where they left off in 2022, with double-digit sales increases and greater market share in both dollars and units, according to nationwide data provided exclusively to PLMA by Chicago-based Circana (formerly IRI and NPD).
Private brand sales hit a new record last year, jumping 11.3% to a whopping $228.6 billion in all outlets in the U.S. for the 52 weeks ending Jan. 1, 2023, versus the prior year, according to PLMA.
The beverage market is going through a metamorphosis as brand owners are entering new categories and are turning to contract manufacturers to support these new endeavors.
This year’s State of the Industry report on bottled water showcases how the sparkling water category has continued to shine and how bottled water sales are looking post-pandemic
During the pandemic, consumers looking to save money turned to private-label products. With nearly 50% of market share, refrigerated private-label dairy products had dollar sales of $7.3 billion, slightly less than the $7.9 billion notched for national brands.
As the pandemic put an extra halo on bottled water, the category has continued to show growth across many segments, particularly sparkling as more consumers switch to the format in the name of health and wellness.
Irving, Texas-based 7-Eleven Inc. announced the release of Serafina, the retailer’s new proprietary sparkling water. Imported from Italy, the sparkling mineral water brand was created exclusively for 7-Eleven and comes in three flavors: Original, Organic Lime and Organic Lemon Ginger.
Historically known for its value attributes, private-label beverages are getting a premiumization boost as consumers also seek quality from these cost-friendly products.
7-Eleven Inc., Irving, Texas, continues to add to its private beverage portfolio. In the past two years, the convenience retailer has introduced energy and sports drinks, Icelandic spring waters, organic milk and cold-pressed juices. The latest to the fold is Triton, a new energy drink with L-Theanine, created to meet customers' desire for a sugar-free energy option, it says.
Private Label Istanbul 2012 offers your company a major opportunity to enter and penetrate the lucrative and expanding Turkish markets. It will bring together a regional audience of Buyers and Decision Makers who are looking for manufacturers and suppliers that can help them in creating Own Label and Private Branded products. Read More
This year's agenda examines all the latest Product Development, Innovation Strategy and Consumer Insights issues that are driving the Food and Beverage industries. Read More
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