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Expanded flavor profiles and improved packaging helping drive private label share higher in the category
Sometimes it might come offas a little cheesy. But there's no joking around about the strength of private label sales in the cheese category today.
Data from the PLMA 2012 Private Label Yearbook shows cheese as the third-largest private label category by dollar sales, and fourth by unit sales. The latest research by Mintel Group Ltd. showed the overall category reaching $18.9 billion in sales in 2011, with that number expected to hit nearly $20 billion by the end of 2012.
And the latest figures from SymphonyIRI Group show private label approaching a 44 percent share in the largest segment, natural cheese, with about a 22 percent share of processed cheese, about a 31 percent share of cream cheese, and a 39 percent share in cottage cheese.
And Mintel's report on the category from June of 2012 shows no sign of slowdown in the overall category or private label. It forecasts sales to climb an additional $4 billion to $24.2 billion annually by 2016.
"The market for cheese is positioned to grow over the next five years," the Mintel report said. "Part of the innovation that will expand sales will come from further development of betterfor- you products. ... Additionally, marketers will become smarter with the use of such social media tools as Facebook and Twitter to multiply brand impressions via friend-influencing fans.
"Finally, the continued success of private label, especially in the large natural cheese and the small...