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Current Affairs-Topics
Amul Triumphs as World's Top Food and Dairy Brand
|
Amul, an Indian dairy brand, has been ranked as the world's strongest food brand by Brand Finance, UK in 2024. The brand has achieved an AAA+ rating and a 11% increase in brand value to $3.3 billion. |
Brand Rankings and Recognition
- Amul ranked as the world's strongest food brand by Brand Finance, UK in 2024
- Retained title of strongest dairy brand for the fourth consecutive year
- Achieved Brand Strength Index (BSI) score of 91.0 out of 100, earning AAA+ rating
- Rose from second rank in 2023 to first in 2024
- Only Indian brand featured among top 50 global brands in the report
Brand Valuation and Market Dominance
- Brand value increased by 11% to $3.3 billion
- Controls 75% of India's milk market, 85% of butter market, and 66% of cheese market
- Annual procurement of 11 billion liters of milk
- Worth Rs 80,000 crore ($10 billion)
- Products picked up 22 billion times annually, highest in the world
Factors Contributing to Amul's Success
- Strong performance in familiarity, consideration, and recommendation metrics
- Effective advertising and diverse product range
- High consumer perception of product quality
- Strong social media presence and web traffic
- Commitment to sustainability and community engagement
- Unique cooperative structure involving 3.6 million farmers
Comparison with Other Brands
- Nestlé remains the world's most valuable food brand at $20.8 billion, despite 7% decline
- Lay's saw a 9% increase, reaching $12 billion
- Hershey's shares AAA+ rating with Amul but experienced a slight decline in brand value
Amul's History and Impact
- Established in 1946 by Tribhuvandas Kishibhai Patel in Anand, Gujarat
- Played key role in India's white revolution
- Famous for its mascot, the Amul Girl, featured in advertisements since 1966
- Operates over 70 processing plants
- Supports millions of farmers across India
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