Top 10 dairy brand rankings for 2023

Chinese dairy brand Yili has been valued at US$12.4 billion (AU$19.2bn), making it one of the world’s most valuable dairy brands, according to a report from Brand Finance.

Every year, Brand Finance puts 5000 brands to the test, publishing over 100 reports and ranking brands across all sectors and countries. The top 10 most valuable and strongest dairy brands are included in the annual Brand Finance Dairy 10 2023 ranking as follows:

1. Yili
2. Danone
3. Mengniu
4. Almarai
5. Arla
6. Vinamilk
7. Amul
8. Prèsident
9. Yakult
10. illuma

Yili has fostered strong customer loyalty in the local market, contributing to both strong domestic sales growth and propelled overseas revenue. Yili products are available in over 60 countries across five continents.

Scott Chen, Brand Finance China MD, said dairy innovation is at the core of Yili’s business strategy, and it is continually expanding its product range through research and investment. It is also committed to sustainable development and actively implementing environmental protection measures.

The fastest growing dairy brand this year was Almarai. Its brand value went up by 24% to US$3.4 billion (AU$5.2bn) as it enjoys strong familiarity levels in the Middle East, which has seen growth in demand for dairy products. Despite facing challenges, the brand’s resilience was integral to its growth. It has continued to develop its marketing and expand its product range, including launching its ready-to-drink teas, coffees and non-dairy milk. The brand is also committed to sustainability, having aligned with Saudi Vision 2030 and the United Nations Sustainable Development Goal.

Brand Finance also determines the relative strength of brands through a balanced scorecard of metrics evaluating marketing investment, stakeholder equity and business performance. Compliant with ISO 20671, Brand Finance’s assessment of stakeholder equity incorporates original market research data from over 100,000 respondents in 38 countries and across 31 sectors.

Amul, this year’s strongest dairy brand, also ranked as India’s most valuable food and drinks brand, where it enjoys familiarity, popularity and success. It uses a competitive pricing strategy to ensure products are affordable and accessible and is deep-rooted in Indian culture and heritage, fostering consumer loyalty.

Yili had the highest Sustainability Perceptions Value of any brand included in the 2023 Dairy 10 ranking at US$953 million (AU$1.4m). The brand’s position at the top of the SPV table is not an assessment of its overall sustainability performance, but rather an indication of how much brand value it has tied up in sustainability perceptions.

Yili has demonstrated its commitment to sustainability with active participation in the United Nations’ initiatives and programs. The brand completed the UN’s Global Compact (UNGC)’s Climate Ambition Accelerator (CAA) program. During the closing ceremony in Shanghai, Yili shared how its carbon neutrality progress has picked up pace.

By the end of 2022, 31 Yili factories had been certified as state-level “green factories”. Yili also proposed its Low Water Footprint Initiative for the dairy industry at the UN 2023 Water Conference, making it one of China’s first companies to join the UN Water Action Agenda. This aims to extend the company’s best practices globally to reduce water footprints through cross-sectoral cooperation and synergies.

Image credit: iStock.com/Anna Puzatykh