European private label sales hit €340Bn as retailers adapt

In 2023, European private label sales will reach an all-time high of €340 billion, as announced through the Private Label Manufacturers Association (PLMA) This huge accomplishment represented a significant portion of the overall market growth , accounting for 54% of it . In terms of conventional spending in the food market, sales of non-official label products now represent 38.5%, indicating a high presence.

Private label manufacturers have seen a huge increase in turnover, growing by 13% at some point in 2023. This increase in revenue turned out to be more than double manufacturers' logo revenues a McKinsey report backed by vegan trademark V-Label claims this increase is due in part to retail stores adjusting to changing patrons

Initially, private label merchandise in most cases focused on supplying price range-pleasant options. However, a 2D wave emerged, introducing product lines tailor-made to fulfil the needs of health-aware consumers, which include vegan, organic, and loose-from alternatives, alongside premium ranges. This strategic focus on health-conscious consumers has been a tremendous hit for many supermarket manufacturers.

Furthermore, the file highlights a third wave, in which non-public label products underwent a transformation into modern services through more suitable packaging and marketing techniques. According to McKinsey, shops are now poised to capitalise on a fourth wave by means of addressing evolving tendencies such as the increasing desire for online shopping and shifts in way of life related to fitness, sustainability, and convenience.

A tremendous issue contributing to this marketplace evolution is the growing popularity of plant-based meals. V-Label, in a file released last year, revealed that it certifies merchandise for almost all European retailers, consisting of REWE, Lidl, Aldi, Tesco, SPAR, Migros, Carrefour, and BILLA. Notably, SPAR Austria reported a top notch surge in sales of its SPAR Veggie emblem, which greatmore doubled over a five-year period.

Additionally, last year’s PLMA International Salute to Excellence Awards recognised several vegan products, reflecting a growing trend among retailers to offer high-quality plant-based personal products Over 54% say they frequent stores in addition to providing quality individual products

Martin Runninger, CEO of V-Label International, expressed gratitude and pride for partnering with leading retailers to provide consumers with convenient choices and certify vegan and vegetarian products

A major factor contributing to this market growth is the increasing adoption of plant-based foods. V-Label, in a report released last year, was found to offer products from most European stores, such as REWE, Lidl, Aldi, Tesco, SPAR, Migros, Carrefour, BILLA, etc. Notably, SPAR Austria stated that its sales have increased significantly with the SPAR Veggie brand, which in 5 years has more than doubled.

Also, PLMA's International Salute to Excellence Awards from last year featured several vegan products, indicating a growing trend for retailers to offer fully personalised plant-based luxury products for V -label emphasises the important role of personal branding in fostering customer loyalty Over 54% of consumers say they frequently help gift shops acquire unique personal-label items

Martin Runninger, CEO of V-Label International, expressed gratitude and excitement for partnering with important retail brands to certify vegan and vegetarian products by facilitating consumer choice.

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