Taste of success for global food brands led by Nestlé & Lay’s

Nestlé remains the world’s most valuable food brand at $20.8 billion while Lay’s rises to second place, valued at $12 billion. According to a new report by Brand Finance, the world’s leading brand valuation consultancy, Nestlé's strong brand equity and resilience have helped it maintain its top position in the global food industry. Nestlé’s ability to adapt to changing consumer preferences and maintain a diverse product portfolio has been instrumental in its continued success.

The Rise of Lay’s and Dairy Leaders

Lay’s (brand value up 9% to USD12 billion) has climbed to the second position globally, surpassing Yili (brand value down 6% to USD11.6 billion) which holds the third spot. Lay’s strong financial performance and innovative product offerings, such as its Flavour Swap and MAX lineups, have contributed to its brand value growth. With its rich history and global presence, Lay’s’ strong performance can be attributed to its innovation and product developments, popular and far-reaching marketing campaigns, and enhanced e-commerce strategies.

Chinese dairy brand Yili retains its title as a leading global brand, having fostered strong customer loyalty in its local market by consistently delivering products of exceptional quality and perceived health benefits. This has contributed to strong domestic sales growth, while the brand’s global presence has also propelled its overseas revenue.

Market Transformation and Consumer Preferences

The food and beverage sector has seen a 4% decline in brand value this year, totalling around USD268 billion. Consumers are increasingly favouring smaller, private label brands over big names for unique, personalised products. Savio D'Souza, Valuation Director at Brand Finance, commented: "The food and beverage industry is undergoing a rapid transformation driven by evolving consumer preferences. While the decline in brand value is a challenge, it also presents opportunities for innovation."

Convenience foods and dairy remain as major contributors to the industry landscape:

• Convenience foods are thriving due to busy lifestyles of consumers.
• Dairy is staying strong thanks to plant-based options and health trends.
• Snack brands see strong brand value growth in the post-pandemic world.

Leading brands in this segment include Healthy Choice (brand value up 17% to USD1.4 billion) and DiGiorno (brand value up 17% to USD1 billion), both of which have successfully adapted to changing consumer preferences through innovative product releases and strategic marketing.

Strength and Growth Rankings

Amul (brand value up 11% to USD3.3 billion) has risen to become the world’s strongest food brand, with a Brand Strength Index (BSI) score of 91.0 out of 100 and an AAA+ rating. Amul’s brand strength is attributed to its strong performance in familiarity, consideration, and recommendation metrics. Meanwhile, new entrant Viterra (brand value up 37% to USD1.1 billion) has recorded the largest brand value growth by percentage in the ranking. This growth is supported by increased volumes, strategic acquisitions, and a higher BSI score, now at 60.6 out of 100.

Sustainability Perceptions in 2024

The 2024 Sustainability Perceptions Index finds that in the food sector Nestlé has the highest Sustainability Perceptions Value at USD1.4 billion. Nestlé continues to raise the bar, setting new benchmarks for the industry and inspiring trust among consumers worldwide. Lay’s has the highest positive gap value of USD67 million among brands in the rankings. These brands successfully adapt to trends by demonstrating strong brand purpose and delivering exceptional consumer experiences.

Key Brand Performance Data

Brand	Brand Value (USD)	Key Achievement
Nestlé	$20.8 Billion	World’s most valuable food brand
Lay’s	$12.0 Billion	Second most valuable food brand
Yili	$11.6 Billion	Third most valuable food brand
Amul	$3.3 Billion	World’s strongest food brand (BSI 91.0)
Viterra	$1.1 Billion	Fastest-growing food brand (+37%)