Brand Finance releases Food 100 Ranking for 2022
Once again Nestlé is at the top of the Food 100 ranking by a significant margin. According to Brand Finance, Nestlé’s brand value is worth $20.8 Bn, that’s almost twice as much as Yili which is second on the list.
Brand Finance credits Nestlé’s success as “consistently pursuing its long-term brand strategy by innovating new products and moving forward in its digital transformation”.
Nestlé says that their decentralised and agile business approach continues to help them respond quickly to changing consumer needs and supply chain challenges to ultimately drive their growth.
Yili and Lay’s make up the top three and both increased their brand value this year. Chinese dairy brand Yili increased its brand value by 10% to US$10.6 billion. Lay’s increased their brand value by 31% to US$8.6 billion.
Chinese brand Haitian achieved substantial growth this year. The brand enters the top 10 this year and is currently valued at US$5.8 billion.
The report also highlights how food brands are not only clawing back brand values, many are above pre-pandemic levels.
Savio D’Souza, Valuation Director, Brand Finance says “people are returning to the brands they love, they are hungry for Nestlé, Yili, and Lay’s!
As well as calculating brand value, Brand Finance also measures brand strength. The metric determines the relative strength of brands through a balanced scorecard of metrics evaluating marketing investment, stakeholder equity, and business performance. Hershey’s moves up from second place to be the strongest brand for 2022.
Images courtesy of Nestlé and Brand Finance