Amul has been named as the strongest food and dairy brand globally, as per the Brand Finance Food and Drink 2024 report. The announcement, shared on Amul's official X account (formerly Twitter), highlights the company's growing influence in the international market.
In the post, Amul expressed their pride: "We are pleased to inform you that Amul is ranked as the strongest food brand and strongest dairy brand in the world as per Food & Drink 2024, the annual report on the most valuable and strongest food, dairy & non-alcoholic drinks brands by @BrandFinance, the world's leading brand consultancy."
The annual report, released by Brand Finance, a global leader in brand valuation, evaluates brands based on various metrics. Amul's brand strength was assessed using the Brand Strength Index (BSI), where it scored an impressive 91.0 out of 100, securing the prestigious AAA+ rating. This rating reflects Amul's exceptional performance in areas such as familiarity, consideration, and recommendation, cementing its position as a global leader in the food and dairy sectors.
While Amul leads in brand strength, the report also identifies Nestlé and Lay’s as leaders in brand value. Despite a 7% decline in brand value, Nestlé retained its title as the world's most valuable food brand, with a valuation of USD 20.8 billion. Meanwhile, Lay’s, with a brand value increase of 9% to USD 12 billion, climbed to the second position globally, surpassing Yili, which holds the third spot with a brand value of USD 11.6 billion.
The food and beverage sector experienced a 4% decline in brand value this year, totaling around USD 268 billion. This trend reflects a growing consumer preference for smaller, private label brands that offer unique and personalized products. Despite these challenges, convenience foods and dairy remain significant contributors to the sector, with the former thriving due to the busy lifestyles of consumers and the latter staying strong due to the rise of plant-based options and health trends.
Several brands have successfully adapted to these changing consumer preferences. Healthy Choice and DiGiorno both saw a 17% increase in brand value, reaching USD 1.4 billion and USD 1 billion, respectively, thanks to innovative product releases and strategic marketing efforts. Additionally, Viterra, a new entrant, recorded the largest brand value growth by percentage, up 37% to USD 1.1 billion, driven by increased volumes, strategic acquisitions, and a higher BSI score of 60.6 out of 100.
In the 2024 Sustainability Perceptions Index, Nestlé emerged as the leader in the food sector with the highest Sustainability Perceptions Value at USD 1.4 billion. Lay’s also stood out with the highest positive gap value of USD 67 million among the ranked brands, underscoring their commitment to sustainability and their strong brand positioning in the global market.
