Amul has achieved global recognition as the world’s strongest food and dairy brand, according to the 2024 Brand Finance Food & Drink report. The annual report, published by Brand Finance, a leading global brand valuation consultancy, underscores Amul’s expanding influence in the international market.
Amul proudly announced this achievement on X (formerly Twitter), stating, “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, and non-alcoholic drink brands by @BrandFinance.”
The report evaluated Amul’s brand strength with a Brand Strength Index (BSI) score of 91.0 out of 100, earning it the prestigious AAA+ rating. The company excelled in key metrics such as familiarity, consideration, and recommendation, solidifying its position as a global leader in the food and dairy sectors.
While Amul leads in brand strength, Nestlé and Lay’s were identified as leaders in brand value within the report. Despite a 7% decline in brand value to USD 20.8 billion, Nestlé retained its title as the world’s most valuable food brand. Lay’s saw a 9% increase in brand value, reaching USD 12 billion and securing the second spot globally, driven by innovative products like its Flavour Swap and MAX lineups.
The overall brand value of the food and beverage sector saw a 4% decline, totalling around USD 268 billion. This dip is attributed to a shift in consumer preference towards smaller, private-label brands that offer unique, personalized products over traditional big names. However, convenience food brands like Healthy Choice and DiGiorno bucked this trend, with a 17% increase in brand value due to growing demand from busy consumers.
Amul’s rise 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 have made it a household name, not just in India but across the globe. Amul holds an 85% share in the Indian butter market and a 66% market share in cheese, with its brand equity continuing to grow stronger each year.
Despite challenges in the dairy industry, including a 6% dip in the total brand value of the top 10 dairy brands, Amul has maintained its title as the strongest dairy brand for the fourth consecutive year. This success is attributed to its unique cooperative structure and impactful branding efforts.
Meanwhile, Valio, a Finnish dairy brand, emerged as the fastest-growing dairy brand with a 31% increase in brand value, driven by its acquisition of Planti, a producer of plant-based dairy alternatives.
Sustainability remains a critical factor for brands, with Nestlé leading the food sector with the highest sustainability perception value at USD 1.4 billion and Coca-Cola topping the non-alcoholic drinks sector with a value of USD 5.2 billion. The report suggests that brands like Lay’s and Pepsi could enhance their market positions by better communicating their sustainability efforts.