According to a study byhttps://nielseniq.com/global/en/ Nielsen-IQ for the annual Private Label Yearbook of the Private Label Manufacturers Association (PLMA), last year’s sales of private label products has increased to 302 bn euros in the 17 investigated countries in Europe. With a growth of the value share by 1.2 per cent to 37 per cent, private label markets in Europe are among the strongest in the world.
Private labels in the Czech Republic (+3.5 per cent), Portugal (+2.9 per cent), Spain (+2.2 per cent) and Hungary (+2.2 per cent) could record the strongest growth while only in Switzerland, there was a decrease by 0.5 per cent.
However, the market share of private labels in Switzerland is the highest across Europe with 52%, followed by Netherlands with 44%, Spain and the UK with 43%, Germany with 40% and Portugal with 39%. The study revealed only 6 countries where the share is below 30% namely: the Czech Republic, Norway, Italy, Sweden, Greece and Hungary.
“Consumers in Europe are clearly turning to private labels as they recognise their quality, value, taste and performance,” the PLMA stated in a press release.