In the past year, European consumers displayed an increased inclination towards private label products compared to the previous period. According to the most recent private label yearbook from the international association PLMA, private labels captured a 38.5% share of the European food market in 2023 across 17 surveyed countries, resulting in sales amounting to 340 billion euros.
The PLMA observes that in 2023, consumer worries about high inflation drove a shift towards private labels. Retailers, on the whole, saw a two percent uptick in the sale of private label products. Noteworthy performance was observed in Portugal (+9%), the Czech Republic (+8%), Poland (+6%), and Spain (+5%), all surpassing the average growth. Conversely, the Netherlands and Belgium (both -1%), along with Hungary (-8%), experienced a decline in private label adoption.
The European private label sector maintains a substantial presence in the pet food category. Hungary takes the lead with a reported 71.8% share by volume, followed by Norway (69.2%) and Portugal (68.2%). Comparatively, the overall private label business by volume in Hungary stands at 35.7%, while in Norway, it is 24.6%, and in Portugal, it is 55.2%.
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