UK spending on private label products will leap by 24% in the next four years, according to a study published today (18 April).
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Industry analysts Datamonitor said UK expenditure on such products will reach GBP52bn (US$104bn) by 2011 – up from GBP42bn last year.
The study said spending on private label goods will exceed 40% of total consumer packaged goods in four years, consolidating the UK’s position as the largest market in Europe for retail own-brand products.
The next largest market is Germany, where expenditure on private label products accounts for 26% of spending on consumer packaged goods. By 2011, that level will rise to just under 31%.
Datamonitor said the dominance of the top five UK supermarkets, compared to the rest of Europe, is a key factor in the popularity of private label products.
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By GlobalDataThe analysts also said the UK grocery retailers had also fuelled the boom in the category by expanding into sectors beyond groceries.
