Nestlé continues as the world’s most valuable food brand while Lay’s climbs to second
Nestlé (brand value down 7% to $20.8 billion) continues to hold the title of the world’s most valuable food brand, according to a new report by Brand Finance, the world’s leading brand valuation consultancy.
Despite a decline in brand value, Nestlé’s strong brand equity and resilience have helped it maintain its top position in the global food industry. Nestlé’s ability to adapt to changing consumer preferences and maintain a diverse product portfolio has been instrumental in its continued success.
Lay’s (brand value up 9% to $12 billion) has climbed to the second position globally, surpassing Yili (brand value down 6% to $11.6 billion) which holds the third spot. Lay’s strong financial performance and innovative product offerings, such as its Flavour Swap and MAX line-ups, have contributed to its brand value growth.
The food and beverage sector has seen a 4% decline in brand value this year, totalling around $268 billion. Consumers are increasingly favouring smaller, private label brands over big names for unique, personalised products.
Savio D’Souza, valuation director at Brand Finance, noted the “rapid transformation” the food and beverage industry is undergoing driven by evolving consumer preferences.
“While the decline in brand value is a challenge, it also presents opportunities for innovation,” D’Souza said. “Brands that successfully adapt to these trends by demonstrating strong brand purpose and delivering exceptional consumer experiences will be the ones to thrive in this new landscape.”
Convenience foods and dairy remain as major contributors, with convenience foods thriving due to busy lifestyles of consumers and dairy staying strong thanks to plant-based options and health trends. These shifts challenge established brands to adapt, while new brands capitalise on changing consumer preferences.
Leading brands in this segment include Healthy Choice (brand value up 17% to $1.4 billion) and DiGiorno (brand value up 17% to $1 billion), both of which have successfully adapted to changing consumer preferences through innovative product releases and strategic marketing.
Amul (brand value up 11% to $3.3 billion) has risen to become the world’s strongest food brand, with a Brand Strength Index (BSI) score of 91.0 out of 100 and an AAA+ rating. Amul’s brand strength is attributed to its strong performance in familiarity, consideration, and recommendation metrics.
New entrant Viterra (brand value up 37% to $1.1 billion) has recorded the largest brand value growth by percentage in the ranking. This growth is supported by increased volumes, strategic acquisitions, and a higher BSI score, now at 60.6 out of 100.
The 2024 Sustainability Perceptions Index finds that in the food sector Nestlé has the highest Sustainability Perceptions Value at $1.4 billion and Lay’s has the highest positive gap value of U$67 million among brands in the rankings.
