Food and beverage brands strive to establish themselves in the global market. According to the latest Brand Finance Food & Drink 2024, an Indian brand has topped the list of the world’s strongest food brands. This position has been secured by dairy brand Amul. With its brand value reaching USD 3.3 billion, a Brand Strength Index (BSI) score of 91.0 out of 100 and an AAA+ rating, Amul has become the world’s strongest food brand. According to the report, Amul’s brand strength is attributed to its strong performance in familiarity, consideration and recommendation metrics.
Also read:
In the ranking of strongest food brands, Amul is at the top spot, followed by The Hershey Company (US) in second place. Amul is one of the largest chocolate manufacturers globally. Another Indian company that made it to the list is Britannia, which is at the fourth spot. Britannia is known for its range of products that include biscuits, dairy, cakes, rusks, breads and nutrition bars. Other popular brands that made it to the list include Doritos, an American brand of flavoured tortilla chips (5th spot) and Cheetos, a crunchy corn-cheese puff snack brand made by Frito-Lay, US (8th spot). You can check out the full list here:
Here are some of the more interesting and popular categories in the Brand Finance Food & Drink 2024 report:
World’s most valuable food brand:
Nestlé remains the world’s most valuable food brand at $20.8 billion, while Lay’s moves up to second place with a value of $12 billion.
Fastest Growing Food Brand:
New entrant Viterra (brand value up 37% to US$1.1 billion), a Canadian grain handling business, recorded the largest brand value increase by percentage in the ranking.
Also read: All packaging material claiming ‘100% fruit juice’ to expire in next four months: Food authority
Trends for in-demand brands
The report said that the brand value of convenience foods is increasing due to the demand of consumers’ busy lifestyles. Convenience foods are commercially prepared for ease of consumption and are usually ready to eat without any additional preparation. Dairy brands have also remained strong, thanks to plant-based alternatives and health trends.
