Nestlé has once again been named world’s most valuable food brand, according to a new report from Brand Finance.
The Swiss company's brand value which is worth $22 billion has steadily increased this year due to strong sales growth across its extensive and varied brand portfolio, the leading brand valuation consultancy noted.
Nestlé's ability to meet evolving consumer preferences, stay ahead of trends, and effectively launch new products has been a driving force behind its continued brand value growth, it added.
This year, Nestlé which makes Kit Kat chocolate wafer bars and Nescafé coffee expanded its plant-based portfolio with the introduction of a new milk alternative, catering to an ever-increasing global demand for plant-based products.
Satisfying Consumer Demand
The brand also launched its first-ever Nescafé Ice Roast coffee, designed to satisfy rising consumer demand for iced coffee at home.
Savio D'Souza, valuation director at Brand Finance, commented, “As an iconic global brand, Nestlé continues to raise the bar, setting new benchmarks for the industry and inspiring trust among consumers worldwide.
"With a rich heritage and a portfolio of trusted brands, Nestlé has built a legacy of success and an unmatched global reputation, enhanced by its enduring dedication to creating a healthier and more sustainable future for all."
Full-Year Organic Sales
In July, Nestlé improved its full-year organic sales outlook and reported better-than-expected first-half organic sales, as the world's biggest packaged food company again raised prices to cope with higher input costs.
Nestlé said that it is narrowing its full-year organic sales growth guidance - which does not include the impact of currency movements and acquisitions - to a range of 7%-8% from a range of 6-8%.