31 October 2019
Visiongain has launched a new Consumer Goods report Brewer’s yeast Market Report 2019-2029 : Forecasts by Product (Food, Beverages), by Form (Solid, Liquid), by Distribution Channel (Offline, Online), PLUS Profiles of Leading Companies and Regional and Leading National Market Analysis.
The global Private label market in food & beverage industry market is expected to grow at a lucrative rate during the forecast period. Some of the key factors driving the market include increasing acceptance of private label products owing to lack of premiumization, and launch of improved quality private label products. However, the concerns associated with increased competition between private label and other national brands and fragmented nature of the market may pose as market restraints. The Private label market in food & beverage industry market can be segmented based on product, form, distribution channel, and region.
Factors such as launch of antibiotic-free and hormone-free products, growing popularity of ready-to-eat and packaged food products, rise in disposable income, and growing shift of consumer preference from branded products to private label products are the driving forces of the market. Key players are now focussing on launch of novel products and increasing their online retailing in order to compete with the already established brands in the market.
The aforementioned factors are anticipated to contribute to the growth of the global Private label market in food & beverage industry market over the forecast period. Furthermore, the growing need to cater to a large consumer base in developing countries is also anticipated to drive the growth of private label market in food & beverage industry.
Furthermore, strategic initiatives taken by various non-profit organizations is likely to further augment the industry growth. For instance, marketing pledges by The Council of Better Business Bureaus (CBBB) with over 10 food & beverage companies to control the food choices of children caused by consequences of advertising is expected to alter food choices of individuals over the forecast period. By product, private label food segment is anticipated to contribute the largest share of revenue. The large size of the segment can be attributed to the availability of improved quality and affordability of the products. Asia Pacific is expected to be a lucrative region during the forecast period. Factors such as a high millennial population, rising disposable income, and increasing preference among consumers for ready-to-eat products is contributing to the large share of the region.
The global private label market in food & beverage industry market is moderately fragmented with over half of the market captured by the top 10-15 players. In addition, with many new players are entering the market in order to cater to the growing consumer demand. Some of the players such as Amazon.com, Inc., Costco Wholesale Co., Target Brands, Inc., Walmart, and The Kroger Co. are currently dominating the market. These major companies are increasingly focusing on product launches and research & development activities so as to gain competitive advantage. Some of the other companies operating in the market include Finlay Beverages, Veritiv, Wegmans Food Markets, Richelieu Foods, and Cott Corporation. These companies are taking various strategic initiatives such as mergers, acquisitions, and partnerships so as to increase their presence in the global market.
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