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NEW YORK – Store brands continued their ascent, achieving a record $271 billion in sales in 2024, a $9 billion increase compared to 2023. According to the latest Circana Unify+ data, released by the Private Label Manufacturers Association (PLMA), private label dollar sales surged by 3.9% year-over-year, significantly outpacing the 1% growth posted by national brands.
“Sales of store brands hit a record high last year,” said Peggy Davies, president of PLMA. “The quality, value, and innovation that store brands provide can’t be beat.”
The $271 billion milestone underscores store brands' robust four-year growth trajectory. Since 2021, private label annual sales have grown by $51 billion, a 23.6% increase. Meanwhile, unit sales of store brands have risen 2.3%, contrasting sharply with a 6.8% decline in unit sales of national brands over the same period.
“Consumers are clearly responding to the strong value proposition of private label products,” Davies noted, highlighting their appeal across diverse demographic and economic groups.
Circana data revealed that store brands experienced dollar sales growth across all 10 food and non-food departments tracked. Leading the charge were the Refrigerated category (+7.5%), General Food (+4.3%), and Beverages (+4%). In terms of unit sales, the Beverages, Pet Care, and Home Care categories led the pack, each posting gains of 3.5% or more.
These gains reflect ongoing retailer investments in private label innovation, packaging, and marketing to capture consumer interest in quality alternatives to national brands.
The PLMA says that more insights into private label performance will be detailed in its upcoming 2025 Private Label Report, set for release in February. The report will provide a comprehensive look at category-specific trends and monthly sales patterns, offering retailers and suppliers actionable insights to sustain momentum.
The announcement of record-breaking sales coincides with the inaugural “Store Brands Month,” launched by PLMA in January to celebrate the availability, quality, and diversity of private label products across retail channels.
The strong performance of store brands highlights their growing importance to both retailers and consumers, solidifying their position as a key driver of the retail economy. With continued innovation and consumer trust, private labels are poised to maintain their upward trajectory in the years to come.
