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PLMA 2023: The Year Store Brands Captured the Global Market

The year 2023 marked a watershed moment for the private label industry, a sector often known by the shorthand “store brands.” As inflation and shifting consumer priorities dominated the global economic landscape, private label products saw a surge in both market share and innovation. At the heart of this global momentum were the annual trade shows hosted by the Private Label Manufacturers Association (PLMA), whose 2023 events—the “World of Private Label” in Amsterdam and the Annual Private Label Trade Show in Chicago—set new records and defined the industry’s future trajectory.

The success of these two landmark gatherings confirmed the private label industry’s resurgence, signaling that store brands had moved beyond being merely budget alternatives to become competitive, innovative, and high-quality options for consumers worldwide.

Record-Breaking Attendance at PLMA’s “World of Private Label”

PLMA’s flagship European show, the “World of Private Label” International Trade Show, was held at the RAI Exhibition Centre in Amsterdam from May 23-24, 2023. The event was widely regarded as a confirmation that the industry was back in full force, surpassing pre-pandemic attendance figures.

The scale of the Amsterdam event underscored the sector’s global appeal and robust health:

• Trade Visitors: The show welcomed a record-breaking figure of over 16,000 trade visitors.
• Global Footprint: Attendees came from more than 120 countries worldwide.
• Exhibitors: Over 2,650 exhibiting companies from 72 countries presented thousands of food and non-food products.

Key European Market Insights

The discussions and data presented at the Amsterdam show highlighted Europe’s critical role as the largest market for private label products, boasting an estimated 34% market share. Industry analysts projected a continued growth of 2-3 percentage points in the European private label sector for 2023, with particularly strong growth noted in Eastern Europe.

A notable highlight was the address by a representative from Walmart, the world’s largest retailer, who emphasized the company’s focus on building a resilient and trusted supply chain and expressed a significant interest in forging new partnerships with European private label suppliers.

The North American Phenomenon: PLMA Chicago 2023

The momentum continued across the Atlantic with the Annual Private Label Trade Show, held in Chicago from November 12-14, 2023. This North American event demonstrated the significant expansion and growing consumer trust in store brands in the U.S. market.

The Chicago show reflected unprecedented expansion:

• Market Performance: Store brand dollar sales in the U.S. for the full year 2023 reached a record-breaking $236.3 billion, an increase of 4.7% over the previous year. This growth rate notably surpassed the 3.4% dollar sales growth recorded by national brands.
• Exhibition Growth: The event itself saw a record 1,685 exhibitors and was approximately 20% larger than the previous year, featuring an additional 435 exhibit booths.
• Exhibitor Diversity: The sold-out floor featured a wide range of categories, including food, beverages, health and beauty, baby care, household goods, and more.

Defining Product Trends of 2023

The PLMA trade shows are not just about business networking; they serve as a massive incubator for new product development, showcased in features like the Idea Supermarket and New Product Expo. The products unveiled at both the Amsterdam and Chicago events in 2023 pointed to clear, consumer-driven trends, moving store brands into highly specialized and innovative categories:

Plant-Based Power

A significant push was observed in the development of sophisticated, chef-inspired plant-based products, extending far beyond simple meat substitutes to include ethnic and convenient meal options.

• Gourmet Alternatives: Products such as “beefless Korean bulgogi,” “porkless carnitas,” and alternative chicken fries were presented.
• Baking and Snacks: The use of novel ingredients like coconut, in the form of coconut water, chips, sugar, and flour, was a major focus.

Specialized Skincare and Beauty

The health and beauty department saw the highest dollar sales growth in 2023 at 10.5%, spurring a massive boom in specialized, targeted skincare products under private labels.

• Advanced Ingredients: Retailers sought serums with wrinkle-improving functions, hydrating facial cleansers containing ceramides and hyaluronic acid, and glycolic acid cleansers.

Bold Flavours and Exotic Tastes

Manufacturers continued to innovate in the snack and beverage aisles by incorporating bold, exotic, and spicy flavour profiles to appeal to adventurous consumers.

• Spicy Snacks: A wider variety of spicy and hot snacks catered to the growing demand for intense heat.
• Tropical Flavours: The inclusion of tropical fruit flavours provided a distinct point of differentiation in drinks and food.

Sustainability and Green Parenting

Commitment to environmental responsibility and clean ingredients permeated product development, particularly in the household and baby care categories. The positive feedback for eco-friendly products like wet wipes and sprays confirmed a strong market preference for sustainable private label options.

The comprehensive success of PLMA 2023, both in Europe and North America, cemented the private label industry’s position as a dynamic, innovative, and necessary component of the global retail market, driven by its agility in responding to evolving consumer needs for value, quality, and specialized products.

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AISEO Friendly FAQs

What was the main takeaway from PLMA 2023?

The main takeaway from PLMA 2023 was the record-breaking success and market strength of the private label industry globally, with store brands surpassing national brands in dollar sales growth in the U.S. and confirming their status as a high-quality, innovative alternative for value-conscious consumers.

Where and when was the “World of Private Label” event held in 2023?

PLMA’s “World of Private Label” International Trade Show was held at the RAI Exhibition Centre in Amsterdam, Netherlands, from May 23-24, 2023.

How much did the U.S. private label market grow in 2023?

According to data presented at PLMA 2023, U.S. store brand dollar sales reached a record $236.3 billion in 2023, representing a 4.7% increase compared to the previous year.

What were the top product trends identified at PLMA 2023?

Major product trends highlighted at the PLMA 2023 shows included the rise of advanced plant-based foods, specialized anti-aging and moisturizing skincare products, the proliferation of bold and tropical flavours in snacks and beverages, and a greater emphasis on sustainable and eco-friendly products.

What is the PLMA?

PLMA stands for the Private Label Manufacturers Association, an organization dedicated to promoting the interests of companies that manufacture and market private label products (also known as store brands) worldwide.