On the whole, BrandZ judges that it has been a good year for Chinese food, drink and nutraceutical brands. Indeed, with Yili, the segment produced the joint fastest-growing brand in the country, with an 86% improvement compared to the previous report.
“The brand value of the food and dairy category rebounded 62% [over last year’s tally] as brands acknowledged food safety problems and launched initiatives to ensure supply chain safety and upgrade operations with world-class food processing knowhow,” the report reveals.
However, in order to continue building brand value, Millward Brown urges companies to “sustain trust”.
“Consumer scrutiny will be higher in categories where trust levels were lower. In food, for example, the usual considerations—what’s the price? how does it taste?—will still be important. But consumers will ask other questions: what are the ingredients; are they healthy; how and where was the food sourced and how was it processed?
“For brands that answer positively and honestly, trust can be a powerful differentiator.”
We have set apart the top 10 food, beverage and nutraceutical brands from the report. The full study can be found here.