Nestlé has retained its position as the world’s most valuable food brand, valued at US$20.8bn, almost twice the value of the second most valuable brand in the ranking.
Every year, Brand Finance puts 5,000 of the world’s biggest brands to the test, and publishes around 100 reports, ranking brands across all sectors and countries.
Despite new supply chain pressures and the continued impact of COVID-19, Nestlé continues to consistently pursue its long-term brand strategy by innovating new products and moving forward in its digital transformation.
Nestlé has invested in developing solutions that meet changing consumer preferences by anticipating growing trends, rapidly testing new ideas and bringing products to market and believes that investment in research and development enables its growth.
China’s largest dairy company, Yili, increased its brand value by 10 per cent to US$10.6bn, making it the second most valuable brand globally, with Lays increasing brand value by 31 per cent to US$8.6bn to round out the top three.
Yili reported that high-growth categories including cheese, powdered milk and bottled water have all experienced sustained rapid growth as Chinese consumers perceive immunity building benefits, along with nutritional and health benefits associated with high status dairy products.
For Lays, Covid brought about a shift in snacking behaviour, which led to a shift in strategy whereby the company successfully pivoted to having a greater digital presence on various online shops such as Amazon, leading to large sales volumes as a result.
Brand Finance found Hershey’s to be the world’s strongest food brand, moving up from second place last year to the top spot with a Brand Strength Index (BSI) score of 89.8 and a AAA+ rating. Belvita was found to be the fastest growing food brand, growing 62 per cent to US$1.6bn.
Chinese brand Haitan was a new entrant to the top 10, valued at US$5.8bn and sitting in the eighth position.
In the non-alcoholic drinks section, Coca-Cola is the most valuable brand globally, valued at US$35.4bn. It is also the strongest drink brand with an elite AAA+ rating. Pepsi remains in second place in both brand value and strength. Pepsi’s brand value rose 12 per cent to US$20.7bn and has a BSI of 90.1 out of 100.
Savio D’Souza, Head of EMEA Consulting, Brand Finance, said: “As pandemic restrictions recede in the rear view mirror, many non-alcoholic brand values are surging. People are once again able to easily get together for a Coke, a Pepsi, a coffee, or cup of tea. This is good for consumers, and good for brand values in this sector of the economy.”
Monster, Lipton, and Gatorade were the fastest growing brands in the non-alcoholic drinks sector this year. Monster rose 29 per cent to US$6.3bn, Lipton rose 27 per cent to US$3.2bn, and Gatorade rose 26 per cent to US$5.3bn.
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