Tuesday, 2 January 2018

Private Label Food and Beverages Market in APAC 2017-2021

MRC Announces the Publication of its Research Report – Private Label Food and Beverages Market in APAC 2017-2021
MRC recognizes the following companies as the key players in the private label food and beverages market in APAC: AEON, Seven &i Holdings, Wal-Mart Stores, WESFARMERS, and Woolworths.
Commenting on the report, an analyst from MRC’s team said: “One trend in the market is growing digitization of private label. With the growing competition, retailers are increasingly taking initiatives and efforts to promote their products by using modern technology and digitization. The internet is an ideal platform to promote, market, and sell their products. Thus, business hubs like Amazon and other similar portals are providing platforms where customers are providing platforms to purchase branded products that are not just private label products.”
According to the report, one driver in the market is affordable prices of private label products. Private label products are priced lower than their branded counterparts. These products are manufactured by outsourcing or by third-party manufacturers. In addition, the cost of marketing incurred on these products is minimal. Thus, the overall cost of private label products is lesser than branded products. Prices of national brands are usually 25%-30% more than the private labeled food products. The cost of material handling and logistics is also minimum in private label food and beverages. Consumers are generally price sensitive for food and beverage products that are available in the market.
Further, the report states that one challenge in the market is presence of brand-conscious consumers. Well-established brands have recognized markets and reputations as they offer their products with constant quality and spend heavily on the marketing of their products. Consumers can be divided into two segments: one who look for brand names and quality and others who are price conscious. So, the first type of customers usually has fixed choices, and they do not to take the risk by choosing private label products. Further, national brands spend a substantial amount of revenue on marketing and advertisements. Thus, the awareness about these products is more among consumers when compared with private label brands.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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