Amul – World’s Strongest Food Brand in 2024

August 21, 2024

Amul was honored as the world’s strongest food brand by Brand Finance, a leading brand valuation firm. Amul achieved this recognition with a high Brand Strength Index (BSI) score of 91 and a brand valuation of $3.3 billion. This is a significant achievement, reflecting an 11% increase in brand value compared to the previous year, 2023.

Amul’s Market Dominance

Amul is a major player in India’s dairy market, holding large shares in several key areas. It controls 75% of the milk market, 85% of the butter market, and 66% of the cheese market in India. This strong presence in the dairy industry is a big reason behind its high BSI score and AAA+ rating. The brand is also well-known, widely considered, and often recommended by consumers, further contributing to its success.

Brand Value Comparisons

Amul, with a brand value of $3.3 billion, stands out among global food brands. Although it shares the AAA+ rating with Hershey’s, Hershey’s brand value is slightly higher at $3.9 billion but has seen a small decrease. On the other hand, Nestlé holds the title of the most valuable food brand in the world with a valuation of $20.8 billion, followed by Lay’s at $12 billion.

Brand Finance’s Evaluation Criteria

Brand Finance evaluates brand strength using more than 35 different criteria. These include factors like the effectiveness of advertising, the variety of products offered, how consumers perceive the quality of those products, and the brand’s presence on social media and the web. Additionally, the company looks at how brands contribute to sustainability, engage with their communities, and are governed.

Industry Trends

The food and beverage sector as a whole saw a 4% decrease in overall brand value, amounting to about $268 billion. The report highlights a trend where consumers are leaning towards smaller, private-label brands that offer more personalized products, which poses a challenge for big, established brands. Despite this, there is a growing opportunity for convenience foods as more consumers seek quick and easy meal options.

More About Amul

Amul was established by Tribhuvandas Kishibhai Patel in 1946 in Anand, Gujarat, and is India’s largest dairy cooperative. The name “Amul” comes from the Sanskrit word “Amoolya,” which means priceless. Amul played a key role in the white revolution, helping India become one of the largest milk producers in the world. The brand is also famous for its mascot, the Amul Girl, who has appeared in humorous advertisements since 1966. Today, Amul operates more than 70 processing plants and supports millions of farmers across India.

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