Private label products made up over half of sales increase 2024

The sales value of private label products increased from SEK 89 billion 2023 to SEK 99 billion 2024. This is an increase of SEK 10 billion or 11.6 percent compared with 2023. Private label products made up 24.6 percent of the total food sales 2024. The increase in sales value made up of private label products represent more than half of the SEK 18 billion which sales of food and beverages increased during 2024. A contributing factor to the large increase of private label products is likely due to the last few years rising food prices and that private label products usually are cheaper than other products.

Fruit, nuts and vegetables make up the largest share of the food budget

The largest share of the food budget is made up of fruit, nuts and vegetables, 17 percent or SEK 5 476 per person per year. The second largest category is milk, other dairy products and eggs with 15 percent or SEK 4 983 per person. Followed by meat with 14 percent or SEK 4 733 per person, and sugar, confectionery and desserts with 13 percent or SEK 4 269 per person. The sales per person of fruits, nuts and vegetables have only increased by SEK 58 compared with 2023. Milk, other dairy products, and eggs have increased more, with SEK 357 per person. Sugar, confectionery and desserts has also increased during 2024, with SEK 260 per person.  

Meat, fish and other seafood decreased during 2024

The total sales of food increased during 2024. This is also true for almost all products except for fish and other seafood, and meat. Meat sales had a marginal decrease of 0.4 percent or SEK 19 per person during 2024. The decrease of fish and other seafood was however larger, with a drop of 13.5 percent or SEK 200 per person during 2024. The fixed price sales indicate a volume decrease of 1.9 percent for meat and 13.1 percent for fish and other seafood.

Updated classification

For Foods sales 2024 the old classification, COICOP1999, has been updated to COICOP2018. The new classification will mean changes in how certain articles are classified. With the update of classification, the previous year, 2023, has been updated to the new classification using a key. This means that certain products can have larger changes due to difficulties with matching the old classification with the new one. One consequence of the new classification is a break in the time series.