Private label products account for 21% of global food sales and are expected to grow to 30% by 2020, according to the latest research by M_M Planet Retail.

The research also notes that while growth in saturated markets such as North America and Western Europe is slowing down, the faster growing markets are emerging economies in locations such as Poland, the Philippines, the Czech Republic, Hungary and Thailand.

The report shows that Wal-Mart is the strongest private label producer, followed by French retailer Carrefour and then Dutch retailer Ahold.

“Ultimately, we expect private label products to conquer significant market shares even in highly sensitive areas, such as facial cosmetics, in all of the world’s highly developed consumer markets, even in those with a tradition of deliberately cheap-looking private labels and cautious consumers, such as Germany, said Boris Planer, global macroeconomics manager and M+M Planet Retail.