Amul was named the world's strongest food brand by Brand Finance, a top brand valuation consultancy

Description

Amul was named the world's strongest food brand by Brand Finance, a top brand valuation consultancy. Amul received this honor with a strong Brand Strength Index (BSI) score of 91 and a brand valuation of $3.3 billion. This is a major achievement, representing an 11% rise in brand value over the previous year, 2023.

Amul's Market Dominance

Amul is a big player in India's dairy business, with significant stakes in various key areas. It owns 75% of the milk market, 85% of the butter market, and 66% of the cheese industry in India. This extensive presence in the dairy business is a major reason for its high BSI score and AAA+ grade. Consumers also know the brand, think highly of it, and frequently suggest it, which contributes to its success.

Brand Value Comparisons

Amul, with a brand worth of $3.3 billion, is unique among worldwide food brands. Although it has the same AAA+ rating as Hershey's, Hershey's brand value is significantly larger, at $3.9 billion, but has decreased marginally. Nestle is the most valuable food brand in the world, with a valuation of $20.8 billion, followed by Lay's at $12 billion.

Brand Finance Evaluation Criteria

Brand Finance assesses brand strength using over 35 different parameters. These characteristics include advertising effectiveness, product diversity, consumer perception of product quality, and the brand's social media and web presence. Furthermore, the organization examines how brands contribute to sustainability, interact with their communities, and are controlled.

Industrial Trends

The food and beverage industry as a whole suffered a 4% reduction in overall brand value, totaling $268 billion. The survey notes a trend in which consumers prefer smaller, private-label businesses that provide more personalized products, posing a threat to larger, established brands. Despite this, there is an increasing demand for convenience meals as people seek quick and easy meal options.

More About Amul

Tribhuvandas Kishibhai Patel founded Amul in 1946 in Anand, Gujarat, and it is now India's largest dairy cooperative. The name "Amul" is derived from the Sanskrit word "Amoolya," which means "priceless." Amul was instrumental in India's white revolution, helping it become one of the world's greatest milk producers. The brand is particularly known for its mascot, the Amul Girl, who has appeared in hilarious advertising since 1966. Amul currently has over 70 processing units and assists millions of farmers across India.

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