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BRAND VALUATION
Nestlé still the world’s most valuable food brand, latest study finds
By our News Team | 2023
Company’s ability to meet evolving consumer preferences and stay ahead of trends has been a driving force behind its continued brand growth.
Nestlé has once again been named as the world’s most valuable food brand, with a brand value now up to US$22.4-billion.
This is according to a new report from global brand valuation consultancy, Brand Finance, which finds that the Swiss-based company’s brand value has steadily increased this year due to strong sales growth across its extensive and varied brand portfolio.
Nestlé global headquarters in Switzerland. Photo courtesy of Nestlé
The ‘Food & Drink 2023’ research team says Nestlé’s ability to meet evolving consumer preferences, stay ahead of trends, and effectively launch new products has been a driving force behind its continued brand value growth.
This year, Nestlé expanded its plant-based portfolio with the introduction of a new milk alternative, catering to an ever-increasing global demand for plant-based products. The brand also launched Nescafé Ice Roast coffee, designed to satisfy rising consumer demand for iced coffee at home.
“As an iconic global brand, Nestlé continues to raise the bar, setting new benchmarks for the industry and inspiring trust among consumers worldwide,” comments Savio D’Souza, Valuation Director at Brand Finance.
“With a rich heritage and a portfolio of trusted brands, Nestlé has built a legacy of success and an unmatched global reputation, enhanced by its enduring dedication to creating a healthier and more sustainable future for all.”
Chinese food brand comes in second
Chinese dairy brand Yili, with a brand value up 17% to US$12.4-billion, retains its title as the world’s second most valuable food brand.
The report says Yili has 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. Yili products are available in over 60 countries across five continents.
The other top five Most Valuable Food Brands 2023 are: Lays (USA); Danone (France) and Tyson (USA).
Nestlé also has the highest Sustainability Perceptions Value in the 2023 ranking, valued at US$1.35-billion.
“The Swiss giant’s ongoing commitment to environmental and social responsibility, responsible sourcing and nutrition has contributed to its global perception as a sustainable company,” Brand Value states.
Nestlé’s position at the top of the Sustainability Perceptions Value table is not an assessment of its overall sustainability performance, but rather indicates how much brand value it has tied up in sustainability perceptions.
“The brand has made significant progress in its sustainability objectives. For example, Nestlé is the first company to disclose the nutritional value of its entire global product portfolio, benchmarking against the Health Star Rating system,” the report says.
You can find out more about the ‘Food & Drink 2023’ report here.
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