Nestlé has been named the world’s most valuable food brand, according to a new report from brand valuation consultancy Brand Finance.
“As an iconic global brand, Nestlé continues to raise the bar, setting new benchmarks for the industry and inspiring trust among consumers worldwide,” says Brand Finance Valuation Director Savio D’Souza. “With a rich heritage and a portfolio of trusted brands, Nestlé has built a legacy of success and an unmatched global reputation, enhanced by its enduring dedication to creating a healthier and more sustainable future for all.”
Every year, Brand Finance puts 5000 of the biggest brands to the test, and publishes over 100 reports, ranking brands across all sectors and countries.
Nestlé’s brand value has increased by 8 per cent compared to last year, bringing the total to US$22.4 billion.
Additionally, Brand Finance gave Nestlé the highest Sustainability Perceptions Value rating.
Brand Finance says the company’s ongoing commitment to environmental and social responsibility, responsible sourcing, and nutrition has contributed to its global perception as a sustainable company.
Nestlé became the first company to disclose the nutritional value of its entire global product portfolio, while also reducing its greenhouse gas emissions and is reportedly on track to achieve 100 per cent renewable electricity by 2025.
Chinese dairy brand Yili retained its title as the second-most valuable food brand, with brand value increasing by 17 per cent to US$12.4 billion.
The full Brand Finance Food 100 2023 rankings can be found here.