Sign in Subscribe
COVID-19

Private-Label Food and Beverage Market in the US to Reach USD 30.68 bn by 2024

Strategic Insights

— 1 min read

The private-label food and beverage market in the US is expected to grow significantly, with a compound annual growth rate (CAGR) of almost 4% during the forecast period of 2020-2024. This growth is driven by the premiumization of private-label food and beverage products, as well as product line extension by private-label vendors. The market is predicted to reach USD 30.68 billion by 2024, with key players including Albertsons Companies Inc., Amazon.com Inc., Costco Wholesale Corp., and The Kroger Co.

Key Takeaways:

  • The private-label food and beverage market in the US is driven by the premiumization of private-label food and beverage products, which is expected to be a prime reason for growth during the next few years.
  • The market is expected to grow at a CAGR of almost 4% during the forecast period of 2020-2024.
  • Product line extension by private-label vendors is another key driver of growth in the market.
  • The market is expected to reach USD 30.68 billion by 2024, with a significant growth momentum during the forecast period.
  • Key players in the market include Albertsons Companies Inc., Amazon.com Inc., Costco Wholesale Corp., and The Kroger Co.
  • The market is expected to experience a moderate bargaining power of buyers, suppliers, and new entrants, as well as a moderate threat of substitutes and rivalry.
  • The market is expected to have a significant market opportunity by product and distribution channel.

Statistics:

  • The private-label food and beverage market in the US is expected to grow at a CAGR of almost 4% during the forecast period of 2020-2024.
  • The market is predicted to reach USD 30.68 billion by 2024.
  • The overall market size of the private-label food and beverage market in the US reached USD 24.11 billion in 2019.
  • The market is expected to experience a moderate bargaining power of buyers, suppliers, and new entrants, as well as a moderate threat of substitutes and rivalry.

Sources:

  • BusinessWire: "Private-label Food and Beverage Market in US 2020-2024"
  • Technavio: "Private-label Food and Beverage Market in US 2020-2024"
  • Wikipedia: "Private label"

Read more