Cadbury Skyrockets Brand Value, Surpassing All Expectations in 2022-2023

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Cadbury grew its brand value by almost half (47.6%) between 2022 and 2023, to enter the top 20 most valuable food brands globally.

According to Brand Finance's latest report on the world's most valuable food and non-alcoholic drink brands, Cadbury's brand value in 2023 has increased to $3.83bn (£2.99bn), compared to $2.60bn (£2.03bn) in 2022. Brand Finance uses the royalty relief method to calculate brand value, estimating future revenue and determining a royalty rate for brand usage. As a result, Cadbury has been ranked among the top 100 most valuable food brands worldwide.

Cadbury's value growth propelled it up 10 spots in the global food brand ranking, securing its position as the 17th most valuable food brand worldwide. This year, the chocolate brand, owned by Mondelez, has reinforced its 'There's a Glass and a Half in Everyone' advertising campaign and shown unwavering dedication to innovation and long-term brand development. Furthermore, it has been nominated for the prestigious title of Our Website's 2023 Brand of the Year.

Cadbury, Doritos, and Lay's all experienced significant growth in brand value compared to the previous year. Lay's brand value grew by 29.2%, solidifying its position as the third most valuable food brand. Similarly, Doritos saw a 26% increase in brand value and climbed six places to 19th overall.

According to Brand Finance, the overall snack market has been thriving, and this trend is reflected in the growth of PepsiCo's Cheetos and Tostitos brands, which grew by 29.2% and 76.3% respectively. Want Want, a Chinese cracker brand, also experienced impressive growth of 38.1% and climbed 11 places in ranking.

In 2023, Cadbury and Doritos have seen an increase in their brand value, while other food brands experienced a decline. Unilever has dropped ten spots to 23rd place in the ranking, with its brand value decreasing by 13.9% to $3.32bn (£2.57bn). The new CEO, Hein Schumacher, aims to restore the company's fortunes as he assumes leadership. Previously, Alan Jope, the former CEO, faced criticism from a prominent investor who claimed that the company prioritizes brand purpose over product, resulting in a negative impact on commercial outcomes.

Other significant decreases in value were seen in Ferrero Rocher, which plummeted by over 20% and slipped out of the top 50 rankings, landing in 72nd place. Nutella also experienced a decline of 14.9%.

Maintaining its position as the most valuable brand on the list, Nestlé boasts a worth of $22.43bn (£17.54bn). It achieved a growth in brand value of 7.7% compared to the previous year. With renowned brands like Nescafe and KitKat under its ownership, Nestlé holds a considerably higher brand value than the second-place brand on the list, Chinese dairy group Yili, valued at $12.41bn (£9.71bn).

"Nestlé consistently surpasses industry standards, establishing new benchmarks and instilling confidence in consumers globally," expressed Savio D'Souza, director of valuation at Brand Finance.

Apart from appraising brand worth, Brand Finance also evaluates the strength of each brand. This evaluation encompass aspects like assessing marketing investments, stakeholder equity, and business performance. Subsequently, brands are assigned a strength score out of 100 and an associated rating (exemplified by AAA+ as the highest).

Nestlé, while being the most valuable food brand in 2023, falls short of making it to the top 10 list of the strongest food brands with its AAA- rating. According to Brand Finance, Hershey takes the lead as the strongest global food brand, with a score of 91.4 out of 100 and an AAA+ rating. Following closely behind is Amul, an Indian dairy brand, with a score of 89.0 and an AAA rating. Continuing the trend of highly rated snack foods, Doritos and Cheetos secure the third and fourth positions as the strongest brands, with scores of 88.2 and 88.0 respectively.

Coca-Cola dominates drinks category

Coca-Cola is the strongest and most valuable non-alcoholic drinks brand in 2023, a continuation of the position it held last year.

Coca-Cola, with an AAA+ rating and a score of 89.7, holds a value of $33.47bn (£26.17bn), marking a 5.4% decrease from its 2022 worth. Despite this decline, it remains significantly more valuable than its closest competitor, Pepsi, with a value of $18.34bn (£14.31bn). The data indicates that although Pepsi is the second most valuable non-alcoholic drink, it still has a long way to go before challenging Coca-Cola for the top spot. D’Souza highlights Coca-Cola's ability to enhance its global reputation, capture generational loyalty, and employ effective marketing campaigns, product adaptations, and innovative digital strategies.

Pepsi, a rival brand, ranks second in terms of value among non-alcoholic drinks. However, it is only the fifth strongest brand. It has dropped two places in the rankings, with its score decreasing by 8.3 points to 81.8. The world's second strongest soft drink brand is Nongfu Spring, a Chinese company that produces bottled water and beverages. It scores 87.1. Lipton tea completes the top three strongest brands, with a score of 85.2.

Coca-Cola, a well-known brand, remains the strongest and most valuable brand in 2023, according to Brand Finance. Interestingly, the Coca-Cola Company's other brands are also performing well. Sprite, a non-alcoholic drink, holds the eighth position in terms of value, with a worth of $4.17 billion (£3.26 billion). Similarly, Fanta secures the fourteenth spot with a value of $2.28 billion (£1.78 billion). Additionally, Fanta is recognized as the tenth strongest brand, achieving a score of 79.2.

Despite the Coca-Cola Company's efforts to unify global marketing for both the Sprite and Fanta brands, both brands have experienced a decline in their brand value compared to last year. Sprite dropped one place and suffered a 16.6% decrease in brand value, while Fanta dropped three places and experienced a 12.2% loss in value compared to the previous year.

Earlier this year, Aaliyah Shafiq-Ely, the lead for sparkling flavours and branding at Coca-Cola, revealed to Our Website that there is a strong focus on promoting Sprite globally and leveraging its potential for the business. Moreover, Fanta introduced a global identity for the first time this year, aiming to unite the brand's presence worldwide.