New Delhi [India], August 21 (ANI): Amul, has been recognized as the strongest food and dairy brand globally, according to the Brand Finance Food & Drink 2024 report.
In a post on X (formerly Twitter), Amul posted, “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 , world’s leading brand consultancy”
We are pleased to inform
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, world’s leading brand consultancy pic.twitter.com/C67ja6bll9
— Amul.coop (@Amul_Coop) August 21, 2024
The annual report by Brand Finance, a global brand valuation consultancy, highlights the growing influence of Amul in the international market.
The company’s brand strength was evaluated with a Brand Strength Index (BSI) score of 91.0 out of 100, earning it the prestigious AAA+ rating. Amul’s performance in familiarity, consideration, and recommendation metrics solidified its position as a global leader in the food and dairy sectors.
While Amul shines in brand strength, the report identifies Nestle and Lay’s as leaders in brand value. Nestle retained its title as the world’s most valuable food brand, despite a 7 per cent decline in brand value to USD 20.8 billion.
The company’s ability to adapt to changing consumer preferences and maintain a diverse product portfolio has been key to its enduring success.
Lay’s, on the other hand, saw a 9 per cent increase in brand value, rising to USD 12 billion and securing the second spot globally. Lay’s innovative product offerings, including its Flavour Swap and MAX lineups, have driven its brand value growth.
The Brand Finance report also notes a 4 per cent decline in the overall brand value of the food and beverage sector, now totalling around USD 268 billion.
This decline is attributed to consumers increasingly favoring smaller, private-label brands offering unique, personalized products over traditional big names. Convenience foods, however, are bucking the trend, with rising brand value due to growing demand from busy consumers.
Brands like Healthy Choice and DiGiorno have seen a 17 per cent increase in brand value, driven by innovative product releases and strategic marketing.
Amul’s ascension as the world’s strongest food and dairy brand is a testament to its consistent innovation, effective marketing strategies, and strong consumer trust.
The cooperative’s commitment to quality and its extensive product range has made it a household name not just in India but across the globe. With an 85 per cent share in the Indian butter market and a 66 per cent market share in cheese, Amul’s brand equity continues to grow stronger each year.
The dairy industry, however, faces its own set of challenges. The report notes a 6 per cent dip in the total brand value of the top 10 dairy brands, now at USD 43.8 billion.
Despite this, Amul has retained its title as the strongest dairy brand for the fourth consecutive year, thanks to its unique cooperative structure and impactful branding efforts.
Meanwhile, Valio, a Finnish dairy brand, has emerged as the fastest-growing dairy brand, with a 31 per cent increase in brand value, driven by its acquisition of Planti, a producer of plant-based dairy alternatives.
Sustainability continues to be a critical factor for brands. Nestle leads the food sector with the highest Sustainability Perceptions Value at USD 1.4 billion, while Coca-Cola tops the non-alcoholic drinks sector with a value of USD 5.2 billion.
The report suggests that brands like Lay’s and Pepsi, with high positive gap values, could further enhance their market positions by better communicating their sustainability efforts. (ANI)
