Amul has been named the strongest food and dairy brand globally in the Brand Finance Food & Drink 2024 report. With a Brand Strength Index score of 91.0 out of 100, Amul has secured the prestigious AAA+ rating. The report highlights the company’s growing influence in the international market, solidifying its position as a global leader in the food and dairy sectors. Nestle and Lay’s were identified as leaders in brand value, with Nestle retaining its title as the world’s most valuable food brand and Lay’s securing the second spot globally. Despite a 4 per cent decline in the overall brand value of the food and beverage sector, convenience foods are seeing a rise in brand value due to increased demand from busy consumers.
Amul’s success as the strongest food and dairy brand can be attributed to its consistent innovation, effective marketing strategies, and strong consumer trust. The cooperative’s commitment to quality and extensive product range has made it a household name not just in India but across the globe. Amul holds an 85 per cent share in the Indian butter market and a 66 per cent market share in cheese, demonstrating its dominance in the dairy industry. Despite facing challenges and a 6 per cent dip in the total brand value of the top 10 dairy brands, Amul has retained its title as the strongest dairy brand for the fourth consecutive year.
In the report, Valio, a Finnish dairy brand, 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 remains a critical factor for brands, with Nestle leading the food sector and Coca-Cola leading the non-alcoholic drinks sector in Sustainability Perceptions Value. The report suggests that brands like Lay’s and Pepsi could enhance their market positions by better communicating their sustainability efforts to consumers.
The food and dairy industry is evolving as consumers increasingly favor smaller, private-label brands offering unique, personalized products over traditional big names. However, convenience foods 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 efforts. Amul’s strong performance in familiarity, consideration, and recommendation metrics solidifies its position as a global leader in the food and dairy sectors, ensuring its continued success in the competitive market.
Overall, Amul’s recognition as the world’s strongest food and dairy brand in the Brand Finance Food & Drink 2024 report is a testament to its unwavering commitment to quality, innovation, and consumer trust. Despite challenges faced by the dairy industry, Amul’s unique cooperative structure and impactful branding efforts have helped it maintain its position as the strongest dairy brand for the fourth consecutive year. As the food and beverage industry continues to evolve, brands that prioritize sustainability and consumer preferences are likely to see continued success and growth in the global market.
