21 august 2024 : Amul has been recognized as the strongest food brand globally in Brand Finance’s Global Food & Drinks Report 2024, achieving an impressive Brand Strength Index (BSI) score of 91 out of 100, which has earned it an AAA+ rating. The brand value of Amul increased by 11 percent from 2023, reaching $3.3 billion in the latest rankings, driven by enhanced scores in familiarity, consideration, and recommendation metrics.
Amul shares its AAA+ brand strength rating with Hershey’s, which experienced a minor decline of 0.5 percent in brand value, now standing at $3.9 billion, placing it in second position after leading the rankings last year. Currently, Amul commands a significant share of India’s dairy market, holding approximately 75 percent of the milk market, 85 percent of the butter market, and 66 percent of the cheese market.
Ajimon Francis, managing director at Brand Finance India, noted that brand strength is evaluated based on over 35 parameters, including the impact of advertising, product diversity, consumer quality perceptions, social media influence, and web traffic. Savio D’Souza, valuation director at Brand Finance, remarked, “The food and beverage industry is experiencing rapid transformation due to changing consumer preferences. While the decline in brand value poses challenges, it also opens avenues for innovation. Brands that effectively adapt to these trends by showcasing a strong brand purpose and providing exceptional consumer experiences will be the ones to succeed in this evolving landscape.”
In the wider market, Nestlé continues to be the most valuable food brand worldwide, valued at $20.8 billion. Lay’s has ascended to the second position with a valuation of $12 billion, while Coca-Cola remains the leader in the non-alcoholic beverage sector, followed by Pepsi in second place.
