Amul & Hershey’s lead with AAA+ brand strength rating After placing second last year, Amul (brand value up 11% to USD3.3 billion) has risen one spot to become this year’s strongest food brand in the global rankings. Its brand value growth is supported in part by its robust BSI performance, having recorded an increase of 2.0 points from 2023 to a score of 91.0 of 100 this year.
Its brand strength rating has also maintained at AAA+, with the only other brand having this rating being Hershey’s (brand value down 0.5% to USD3.9 billion), last year’s strongest which is now at second. Amul’s BSI improvement was most visible in terms of the familiarity, consideration and recommendation metrics measured through Brand Finance’s research, which in turn is attributed to the brand’s unique branding strategies.
The overall decline in the dairy sector is driven by a sharp drop in prices, despite stable product volumes. This price drop has significantly impacted the revenues of many prominent dairy companies, resulting in lower overall revenues.
The valuation data underscores the difficulties faced by the dairy sector in maintaining profitability amidst price pressures, even as brands succeed in strengthening their brand equity. This trend highlights the need for strategic adaptations within the industry to navigate economic challenges effectively.
Amul (brand value up 11% to USD3.3 billion) retains its status as the strongest dairy brand ranked, with an improved Brand Strength Index (BSI) score of 91 out of 100. Amul’s unique branding strategy, rooted in its
and impactful marketing campaigns, has solidified its position as a household name in India. With an 85% share in the Indian butter market and 66% market share in cheese, Amul’s branding efforts have successfully resonated with consumers.
Nestlé sips the good life, remaining the world’s most valuable food brand with Lay’s in second + Nestlé retains title of most valuable food brand with a brand value of $20.8 billion + Lay’s stacks up to become the second-most valuable food brand with a brand value of $12 billion + Convenience foods rise in popularity, thanks to younger audience + Viterra has the largest brand value growth spurt of 37% + Amul & Hershey’s lead with AAA+ brand strength rating + Nestlé has the highest Sustainability Perceptions Value, Lay’s has the highest Positive Gap Value
Valio (brand value up 31% to USD2 billion) makes a notable entry into the ranking this year, climbing four spots to secure the 10th position and earning the title of the fastest-growing dairy brand. This impressive growth is primarily attributed to the acquisition of Planti, a Finnish producer of plant-based dairy alternative products. With this acquisition, Oddlygood, a subsidiary of Valio, becomes the market leader in plant-based dairy alternative snacks in Sweden and dairy alternative cooking products in Finland.
The deal has significantly enhanced Valio’s position in the plant-based dairy alternatives sector. This strategic move aligns with Valio’s growth strategy and underscores its commitment to expanding its portfolio with innovative and high-quality plant-based dairy alternative products.
