[27 June/Dairy Reporter]

According to a report by Brand Finance, Nestle dominated the food brand rankings, however Chinese dairy company Yili had seen an impressive increase in value. Nestle claimed the title of the world’s most valuable food brand at more than double the value of the second ranked brand. Dairy was one of the strongest performing sectors in the food industry with an average of 13 percent brand value growth yearly. The Chinese market was the most dynamic in the world, set to take over the U.S. as the largest market for dairy products by 2022. This was due to rising affluence and improved accessibility. Yili rose from eighth place last year to third this year. Brand Finance also highlighted the performance of another Chinese dairy brand, Mengniu, which grew at a similar rate to Yili. Brand Finance rated Yili top for brand potential.