US – 129-year-old Coca-Cola has emerged, yet again, as the world’s most valuable brand in the just released ranking by Brand Finance, the world’s leading brand valuation consultancy.
The annual rankings plot the world’s biggest soft drinks against each other, measuring brand value through the strength of brands as well as metrics on marketing investment, stakeholder equity and business performance.
Coca-cola which has for decades been crowned as the world’s most valuable and strongest soft drink brand continued to maintain its position at the top with a total brand value of US$33.2bn.
With a brand value that is almost double that of second place Pepsi at US$18.4bn, the Atlanta based beverage giant seems well positioned to defend its position for years to come.
“With a 129-year long history, Coca-Cola is still the most consumed soda in the world, with 1.9 billion servings, across 200 countries, enjoyed each day,” notes Brand Finance.
“As with other brands globally, however, the brand’s parent company has not been immune to the impact of COVID-19, with the multinational forced to restructure and cut over 2,000 jobs.”
Despite the headwinds, Brand Finance however appreciated Coca-Cola’s continued to commitments towards its CSR responsibilities.
It highlighted the company’s recent partnership with The Ocean Cleanup’s River Project, where it will utilize its global network to tackle the amount of plastic entering the oceans as an example of the company’s positive impact on the planet.
Dr. Pepper steals the show
Although Coca-Cola continues to dominate the beverage industry, this year, the honours went to Dr. Pepper which recorded a 40% brand value increase.
“Dr Pepper has celebrated increased popularity and sales over the previous several years and demand grew exponentially last year as American consumers took to ‘pantry-loading’ amid the panic-buying phase of the pandemic,” Noted Brand Finance.
Red Bull’s 15% brand value increase was also commendable given that 2020 was a year where the majority of food and drink sectors saw brand losses as the sector negotiates the fallout of the COVID-19 pandemic.
Overall, the top place was taken by Swiss food manufacturing giant Nestlé – whose products include Nespresso and Nescafé among many others – with a portfolio value of $65.6bn.
PepsiCo comes in second with a portfolio value of US$59.2bn, followed by The Coca-Cola Company at US$48.6bn.
PepsiCo’s diversified portfolio that includes Lays and Dorito potato chips brands helped deliver the win for PepsiCo whose Pepsi brand has forever trailed Coca-Cola.
Unilever, Mars, Danone, Mondelez, KraftHeinz, Groupe Lactalis and General Mills made up the top 10 list of the world’s most valuable food brands according to Brand Finance.