Private label market shows growth spurt in Brazil: Report
Brazilian private label market grew 0.7% during the 2007-2011 period to reach a market share of 4.5% in 2011, according to a BRICdata report.
In 2007, private labels accounted for a market share of 3.8% in the country. Over the 2012-2016 period, private labels are expected to record positive growth and be driven by consumer demand for high-value products.
The report showed that Brazilian consumers are more inclined to try private label products at the expense of branded products in order to save on their grocery expenditure.
While the low cost of private labels continued to be the key driving factor, manufacturers started entering the premium market by offering high value products, BRICdata observed.
Due to the increasing trend of collaborative product development in the Brazilian market, companies are involving consumers in product development activity.
Some of Brazil's key private label product categories include alcoholic drinks, carpet cleaner, disinfectant, paper napkins and paper towels.
The full report 'Market Opportunities and Business Strategies in Private Label Branding in Brazil' is available from BRICdata. Click here for more details.