Sheboygan Paper Box Company (SPBCo) is excited to announce we’re exhibiting at the Private Label Manufacturer’s Association (PLMA) 2024 Private Label Trade Show November 17-19 in Chicago, IL. Come see us in booth F3640.
PLMA’s Private Label Trade Show continues to show impressive growth, with a 15% YOY increase in exhibitors from last year. It’s no surprise, since private label brand sales in the food and beverage industry are growing at a steady rate and consistently holding a larger percentage of market share. According to published data on PLMA’s website, annual store brand sales reached $236.3 billion at the end of 2023, an increase of $10.1 billion from the previous year, setting an all-time high. PLMA also reports annual store brand dollar sales increased by 34% over the last four years. A Forbes Magazine article written 8/30/24 reports that according to data from Circana and PLMA, private labels now hold a 22.9% share of total unit volume and a 20.4% share of total dollar sales.
According to KerryDigest Full Scoop, private label sales reflect a market share of 24-44% for categories like vegetables, fresh meat, cheese products, as well as paper and plastics. Those same segments are showing 3.7% – 7.5% growth from last year, while national brands are showing growth that is flat or modest, ranging from -.2% – 3.1%.
The growth in private label is reflected in SPBCo’s client base. “We’ve noticed over the past few years that private label is a larger and larger share of our business”, said SPBCo’s Chairman and President Tom Liebl. He said, “Our membership in PLMA—and participation in the Private Label Trade Show specifically—aligns perfectly with our business and gives us a great opportunity to meet and develop relationships with both current and future clients”.
To meet the increased capacity needs of private label brands, SPBCo has an aggressive growth strategy underway. SPBCo’s VP & General Manager Scott Monnot said, “SPBCo continues to grow as private label grows, since more than 75% of the folding cartons we produce are for private label brands. This is what we do, this is what we specialize in, and we continue to expand our capacity with the addition of key manufacturing assets across the operation, to support the growth of our private label clients”.
We’ve already added an additional windowing machine and another folder/gluer w/case-packer in 2023, and added a fully automated robotic palletizing cell and conveying system in early 2024. By October of 2024 we will have completed the install of an additional diecutter, with yet another folder/gluer line w/case-packer scheduled for install in November. With the increase in private label demand by retailers and consumers, coupled with the increased capacity created by SPBCo’s recent capital investments, we stand ready to support our manufacturing clients’ needs for high-quality folding cartons and paperboard packaging.