The penetration rate of private brands in consumers’ lives continues to increase. 92.19% of consumers said they have some understanding of private brands, but the proportion of consumers who said they are very familiar with private brands has not yet reach 40%. It is urgent to build a clear private brand matrix in the minds of consumers.
Strong categories emerge and are relatively concentrat
Food and beverages have topp the list of preferr private Consumers’ understanding brands for three consecutive years. The preference for private brands in the fresh specific database by industry food category has increas significantly in 2024, with nearly 70% of consumers saying they would prefer private brands in these two categories. The consumer preference for private brands in alcoholic beverages has also increas significantly in 2024. In general, the preference for private brands in the “food enjoyment category” is obvious, while the preference for private brands in the “consumer enjoyment category” has declin .
Food and beverages become the focus of private label product innovation
From 2022 to 2024, China will become the country with the fastest growth in the proportion of innovative products of its own brands in the major multiple factors lead to an increase in the price of used battery recycling markets of global fast-moving consumer goods, increasing from 11% to 26%, and the proportion of innovative products in food Consumers’ understanding and beverage products (30% and 18%) will grow fastest. In the food category, the fastest growth in innovation is in meals and meals, fruit/vegetables and fish/meat/egg process products, follow by desserts/ice cream, side dishes and baking; then condiments/condiments, dairy products, candy/gum, and breakfast cereals.
In the beverage category
The fastest growing innovative products are juice cayman islands lists drinks, alcoholic beverages, water and carbonat soft drinks, and new breakthroughs have also been made in ready-to-drink beverages, hot drinks, nutritional drinks, sports Consumers’ understanding and energy drinks. Natural & healthy has become the main innovation trend of new juice products. For example, new juice products with no additives, low/no/r uc fat claims have receiv continuous attention, and functional innovation has become the focus of new juice product innovation.