Food and drink brands strive to establish themselves in the global market. An Indian brand has made it to the top of the list of the world's strongest food brands, as per the latest Brand Finance Food & Drink 2024 report. This spot has been acquired by the 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 risen to become the world's strongest food brand. Amul's brand strength is attributed to its strong performance in familiarity, consideration, and recommendation metrics, according to the report.
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In the ranking of the strongest food brands, Amul holds the top spot, followed by The Hershey Company (US) in second place. The Hershey Company is one of the largest chocolate manufacturers globally. Another Indian company featured in the list is Britannia, ranking fourth. Britannia is known for its range of products including biscuits, dairy, cakes, rusk, breads, and nutrition bars. Other popular brands that made it to the list include Doritos, a US brand of flavoured tortilla chips (ranked 5th), and Cheetos, a crunchy corn-cheese puff snack brand made by Frito-Lay, US (ranked 8th). You can see the full list here:
Here are some more interesting and popular categories in the Brand Finance Food & Drink 2024 report:
World's Most Valuable Food Brand:
Nestle remains the world's most valuable food brand at $20.8 billion while Lay's rises to second place, valued at $12 billion.
Fastest-growing Food Brand:
New entrant Viterra (brand value up 37% to USD1.1 billion), a Canadian grain handling business, has recorded the largest brand value growth by percentage in the ranking.
Trends For Brands In Demand
The report noted that convenience foods see rising brand value due to demand from the busy lifestyles of consumers. Convenience food is commercially prepared for ease of consumption and is usually ready to eat without further preparation. Dairy brands also stay strong thanks to plant-based options and health trends.