NEW YORK, April 30 (Reuters) - Walmart ( WMT ) debuted a

new private-label food brand on Tuesday, with most of the

products priced under $5, as it aims to improve and grow its

offerings at a time when rival retailers are expanding their own

lines.

The world's largest retailer said it would sell a variety of

dairy products, snacks, beverages, pasta, soups, coffee,

chocolate and other food items across 50 categories under the

new brand "bettergoods."

Items will be priced from under $2 to under $15, with 70% of

the 300 products on offer falling below the $5 mark, Walmart ( WMT )

said in a statement.

Among the products offered are a below $3 hot honey

seasoning, a line of jar soups under $4, and bronze cut pasta

from Italy priced at $1.97. Walmart ( WMT ) has also included healthier

plant-based food options such as an oat milk non-dairy frozen

dessert priced at $3.44 per pint.

While price was top of mind, customers had also been asking

for an elevated food experience, said Scott Morris, Walmart's ( WMT )

senior vice president, private brands, food and consumables.

This customer demand led to the fastest-ever product development

and launch of a brand by the retailer, he told reporters on a

call.

Major competitors including Kroger ( KR ) and Target ( TGT )

are also aggressively bolstering their private-label food

offerings.

Kroger ( KR ) said last month it planned to add more than 800 items

to its "Our Brands" private-label products, while Target ( TGT ) said it

would add hundreds of new items to its "Good & Gather" and

"Favorite Day" food brands. Like bettergoods, Good& Gather also

sells most products under $5.

As inflation persists, increasing numbers of Americans are

opting for private-label brands that are direct substitutes for

national brands but at cheaper prices.

The cost of eating food at home in the U.S. is about 30%

higher than in 2019 and the price gap between private label and

branded goods is wider than average, leading to an acceleration

of "value-seeking behaviors," according to a Jefferies analyst

note published last month.

Private-label food brands gained volume share in 50 of the

75 food categories tracked by Jefferies in the four weeks to

March 23, the note said. Cereal and granola bars, ketchup,

mustard, and health and nutrition powder were among the

categories with the largest gains, it added.