Our Bureau
New Delhi
Amul, India’s beloved dairy brand, has achieved a remarkable feat by being named the world’s strongest food brand in 2024, according to the Brand Finance’s annual report. With a brand value of $3.3 billion, Amul has secured its position as a global powerhouse in the dairy industry.
The Gujarat Cooperative Milk Marketing Federation, which manages Amul, attributes this success to strong performance in familiarity, consideration, and recommendation metrics. Amul commands a substantial share of the Indian dairy market, holding 75% of the milk market, 85% of butter, and 66% of cheese markets.
“This is indeed a proud moment for the entire Amul team and our 36 lakh farmers, who have contributed to build and nurture this brand,” said Jayen Mehta, managing director of GCMMF. “We have always believed Amul’s currency is not milk, but trust, and it is this trust, which has created the brand that is loved by every generation of consumers over the last 78 years.”
“Amul has risen from second rank in 2023 to become the world’s strongest food brand in 2024, with a Brand Strength Index (BSI) score of 91.0 out of 100 and an AAA+ rating,” the report stated.
While Nestlé remains the most valuable food brand globally at $20.8 billion, Amul’s ascent underscores its effective branding and consumer trust, vital in an evolving market where smaller brands are gaining traction.
The report noted that the food and beverage sector has experienced a 4% decrease in brand value this year, amounting to approximately $268 billion. Consumers are increasingly gravitating towards smaller, private label brands, seeking distinctive and personalised products over established names.
“These shifts challenge established brands to adapt, while new brands capitalise on changing consumer preferences,” the report stated.
Amul’s success story serves as an inspiration for brands worldwide, showcasing the power of trust, innovation, and adaptability in the ever-evolving global marketplace.
