GLOBAL – Switzerland-headquartered multinational food company, Nestlé is once again the world’s most valuable brand, according to leading brand valuation consultancy, Brand Finance.
Valued at US$20.8, Nestlé is far ahead of its peers, with Yili, the second most valuable brand in the ranking being two times smaller than the Vevey-Switzerland-based food conglomerate.
To be at the top of the food chain, Nestle continues to consistently pursue its long-term brand strategy by innovating new products and moving forward in its digital transformation.
The Swiss brand has invested in developing solutions that meet changing consumer preferences by anticipating growing trends.
According to Brand Finance, the company has also rapidly tested new ideas, brought products to market, and heavily investment in research and development to drive growth growth.
Following Nestlé in a distant second is Chinese dairy market leader Yili which has achieved a brand value increase of 10% to US$10.6 billion.
Yili’s enviable position is buoyed by high-growth categories including cheese, powdered milk and bottled water.
According to the Chinese dairy, all these categories have experienced sustained rapid growth as Chinese consumers perceive immunity building benefits, along with nutritional and health benefits associated with high-status dairy products.
On Yili’s toe is PepsiCo owned potato chips brand Lay’s which increased in brand value by 31% to US$8.6 billion.
Lay’s, which embraced a more digital presence throughout the pandemic with the promotion of its products on various online shops such as Amazon in particular, continued to achieve large sales volumes as a result.
Hershey’s is the world’s strongest food brand
In the food sector, world’s largest chocolate manufacturer Hershey’s emerged as the world’s strongest food brand, moving up from second place last year to the top spot this year.
Brand Finance gave the Pennsylvania, United States based company, a Brand Strength Index (BSI) score of 89.8 and a corresponding AAA+ brand rating. This year, Hershey’s delivered a record year of production and subsequent sales and earnings growth.
Meanwhile, Mondelez-owned breakfast biscuit brand, Belvita, saw its value grow by 62% to US$1.6 billion, making it the world’s growing food brand in the world, according to Brand Finance.
Another brand that achieved substantial brand value growth was Chinese condiment & sauce brand Haitian which is currently valued at US$5.8 billion.
Haitian is currently sitting at the 8th spot, moving up four positions from last year and now sitting in the top 10, according to Brand Finance.
Coca-Cola is the most valuable non-alcoholic brand globally
American multinational beverage company Coca-Cola saw its brand value rise 7% to US$35.4 billion, making it the world’s most valuable brand in the non-alcoholic drinks sector.
Coca Cola is also the strongest non-alcoholic drink brand with elite AAA+ rating while its competitor Pepsi comes in second place in both brand value and brand strength ranking.
US energy drink maker Monster, British brand of tea Lipton and American sports drink brand Gatorade were the three fastest-growing brands in the non-alcoholic drinks sector this year.
Monster’s brand value went up 29% to US$6.3 billion while Lipton saw its brand value appreciate by 27% to US$3.2 billion.
Meanwhile PepsiCo owned Gatorade’s saw its brand value shot up 26% to US$5.3 billion, according to brand valuation consultancy, Brand Finance.
Speaking during results launch, Savio D’Souza, Head of EMEA Consulting, Brand Finance said: “People are returning to the brands they love, they are hungry for Nestlé, Yili and Lay’s! Food brand values are back above pre-pandemic levels.”
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