Nestlé and Coca-Cola have once again topped the list of the world's most favourite food and soft drinks brands in 2019, according to the latest report by Brand Finance.
Coca-Cola registered a 19% increase in brand value to US$36.2 billion to retain its position as the world's favourite soft drink brand.
The brand’s recent success is the result of an increase in the sales of Diet Coke, following a slump lasting several years, the report pointed out.
However, like other soft drinks brands, Cola-Cola is also facing a perpetual decline in sales in the US since 2004.
'Changing Needs And Circumstances'
Chief executive of Brand Finance, David Haigh, said, "The soft drinks sector is facing scrutiny like never before in the Western world. From high sugar content causing a stir, to the backlash over single-use plastic, brands are having to think fast to meet changing needs and circumstances.
"Although Coca-Cola always has its sheer volume of sales to rely on, the brand needs to evolve with society if it wants to maintain its dominance in the sector," Haigh added.
Pepsi emerged in the second position, with a 7.8% year-on-year decline in brand value to $18.6 billion from $20 billion last year.
In the food category, Nestlé continued to lead with a 1.4% year-on-year increase in brand value to US$19.6 billion.
The company reported strong performance in China and the US, its two largest markets, and a boost in organic sales during this period.
Danone secured the second position in the list, but its brand value was down 10.4% year on year, to US$8.15 billion.
The combined brand value of Nestlé's food and drinks brand portfolio amounted to US$70.5 billion, up 11% on the previous year.
Other Top Performers
PepsiCo's porridge brand, Quaker, emerged as the fastest-growing food brand, registering a 57% increase in brand value to US$3.0 billion.
Quaker expanded its offering beyond traditional porridge to a wide variety of new products, including flavoured oats and overnight oats.
Canadian frozen food brand, McCain entered the top 10 list for food brands for the first time, with a 25% increase in brand value to US$4.7 billion.
China's Yili continued its run as the most favourite dairy brand in Asia, registering a 24% increase in brand value.
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: European Supermarket Magazine.