[Ranking] TOP 25 Food and Beverage Companies Q3/2023
Intro
The food and beverage industry plays a crucial role in the worldwide economy, providing essential sustenance for the global population. As one of the largest and most diverse industries, it encompasses a wide range of businesses involved in the production, processing, distribution, and sale of food and beverages.
The influence of the food and beverage industry extends far beyond its immediate reach. It has profound ripple effects across diverse sectors, including agriculture, manufacturing, transportation, hospitality, and retail. From farmers and fishermen to restaurants and grocery stores, countless businesses and individuals rely on the industry's success for their own livelihood and growth.
In terms of economic magnitude, the food and beverage industry is a powerhouse. With a global market value in the trillions of dollars, it continues to experience a steady upward trajectory. Factors such as population growth, rising disposable incomes, and changing consumer preferences contribute to the industry's sustained growth and potential for further expansion.
Recent trends, breakthroughs, and obstacles are shaping the food and beverage industry. From the increasing demand for healthier and sustainable food options to the challenges posed by climate change and supply chain disruptions, companies are navigating a complex landscape. Technological advancements, such as automation and data analytics, are also revolutionizing the way food and beverages are produced, distributed, and consumed.
The food and beverage industry is known for its ever-changing landscape, driven by evolving consumer tastes, regulatory changes, and market dynamics. This dynamic environment sets the context for the exploration of the industry's top companies, as they adapt and innovate to stay ahead in a highly competitive market.
Ranking
#25 Brown-Forman Corporation
Employees: 4K
Revenue: 3.4B$
Website: https://www.brown-forman.com/
Description: Brown-Forman Corporation, based in Louisville, United States, is a leading player in the Food and Beverage industry. Founded in 1870, the company has grown to become a prominent name in the global market. With a workforce of approximately 4,000 employees, Brown-Forman is dedicated to producing and distributing high-quality alcoholic beverages. The company's portfolio includes renowned brands such as Jack Daniel's, Woodford Reserve, and Finlandia Vodka. Brown-Forman has achieved significant financial success, with annual revenues reaching 3.4 billion dollars. Through its commitment to innovation and customer satisfaction, the company continues to thrive in the highly competitive food and beverage market.
#24 McCormick & Company
Employees: 12.5K
Revenue: 5.3B$
Website: https://www.mccormickcorporation.com
Description: McCormick & Company, headquartered in Hunt Valley, United States, is a leading player in the food and beverage industry. With a rich history dating back to 1889, the company has established itself as a trusted provider of spices, seasonings, and flavors. McCormick & Company operates globally, offering a wide range of products to consumers, foodservice providers, and industrial customers. The company's portfolio includes popular brands such as McCormick, Lawry's, Frank's RedHot, and French's. With a workforce of approximately 12.5 thousand employees, McCormick & Company generates annual revenue of 5.3 billion dollars, making it a key player in the industry.
#23 The Hershey Company
Employees: 16.5K
Revenue: 8.1B$
Website: https://www.thehersheycompany.com/
Description: The Hershey Company is a leading player in the Food and Beverage industry. With its headquarters located in Hershey, Pennsylvania, United States, the company has been operating since its founding in 1894. The Hershey Company employs approximately 16,500 individuals worldwide. The company generates an estimated annual revenue of 8.1 billion USD. Known for its iconic chocolate products, The Hershey Company has established itself as a prominent player in the industry, offering a wide range of confectionery and snacking options. With its commitment to quality and innovation, The Hershey Company continues to be a trusted and beloved brand among consumers globally.
#22 Carlsberg Group
Employees: 40K
Revenue: 8.5B$
Website: https://www.carlsberggroup.com/
Description: The Carlsberg Group, headquartered in Copenhagen, Denmark, is a leading player in the food and beverage industry. Founded in 1847, the company has grown to become one of the largest brewery groups globally. With approximately 40,000 employees, Carlsberg operates a diverse portfolio of beer and beverage brands, including Carlsberg, Tuborg, Kronenbourg 1664, Somersby, and many others. The company focuses on delivering high-quality products and memorable experiences to consumers around the world. Carlsberg Group's revenue reached 8.5 billion dollars, reflecting its strong presence and market success in the industry.
#21 Campbell Soup Company
Employees: 14K
Revenue: 8.7B$
Website: https://www.campbellsoupcompany.com
Description: Campbell Soup Company, headquartered in Camden, United States, is a prominent player in the Food and Beverage industry. Founded in 1869, the company has a workforce of approximately 14,000 employees. With an annual revenue of 8.7 billion dollars, Campbell Soup Company is known for its iconic canned soups and other food products. The company operates globally, offering a diverse range of food and beverage options to consumers. Campbell Soup Company has established itself as a leader in the industry, consistently delivering quality products that meet the evolving tastes and preferences of its customers.
#20 Molson Coors Brewing Company
Employees: 17K
Revenue: 9B$
Website: https://www.molsoncoors.com/
Description: Molson Coors Brewing Company, headquartered in Chicago, United States, is a leading player in the food and beverage industry. With a rich history dating back to 1786, the company has established itself as a prominent name in the brewing business. Molson Coors operates a wide portfolio of popular beer brands, including Coors Light, Miller Lite, Blue Moon, and Molson Canadian. The company's commitment to quality and innovation has enabled it to cater to a diverse customer base and maintain a strong presence in the global market. With approximately 17,000 employees, Molson Coors generates an impressive revenue of 9 billion dollars, solidifying its position as a major player in the industry.
#19 Diageo
Employees: 30K
Revenue: 13.9B$
Website: https://www.diageo.com
Description: Diageo is a multinational alcoholic beverages company headquartered in London, United Kingdom. Founded in 1997, the company operates in the food and beverage industry, specializing in the production and distribution of a wide range of spirits, beer, and wine. Diageo's diverse portfolio includes popular brands such as Johnnie Walker, Smirnoff, Guinness, Baileys, and Captain Morgan. With approximately 30,000 employees worldwide, Diageo generates an annual revenue of 13.9 billion US dollars. The company has established itself as a leader in the industry, continuously innovating and delivering high-quality products to consumers globally.
#18 Kellogg Company
Employees: 34K
Revenue: 14.6B$
Website: https://www.kelloggcompany.com
Description: Kellogg Company is a leading player in the Food and Beverage industry. With its headquarters in Battle Creek, United States, Kellogg Company has been in operation since 1906. The company employs approximately 34,000 employees globally. Kellogg Company has achieved significant success in the industry, generating an impressive revenue of 14.6 billion US dollars. Known for its iconic breakfast cereals, including brands like Corn Flakes, Special K, and Frosted Flakes, Kellogg Company continues to innovate and expand its product portfolio to meet consumer demands. Through its commitment to quality and nutrition, Kellogg Company has established itself as a trusted name in the Food and Beverage industry.
#17 Associated British Foods
Employees: 130K
Revenue: 15B$
Website: https://www.abf.co.uk
Description: Associated British Foods is a leading food and beverage company headquartered in London, United Kingdom. With a history dating back to 1935, the company has grown to become a major player in the industry. With over 130,000 employees, Associated British Foods operates in various sectors of the food and beverage industry, including grocery, sugar, agriculture, ingredients, and retail. The company's diverse portfolio includes well-known brands such as Twinings, Primark, and Jordans. With annual revenue of 15 billion dollars, Associated British Foods continues to innovate and provide high-quality products to consumers globally.
#16 Estée Lauder Companies
Employees: 48K
Revenue: 15B$
Website: https://www.esteelauder.com
Description: Estée Lauder Companies, headquartered in New York, United States, is a leading player in the Food and Beverage industry. Established in 1946, the company has grown to employ approximately 48,000 individuals worldwide. With an annual revenue of 15 billion US dollars, Estée Lauder Companies has established itself as a significant contributor to the industry. The company's portfolio includes various well-known brands across multiple categories, including skincare, makeup, fragrance, and haircare. Estée Lauder Companies continues to innovate and cater to the evolving needs and preferences of consumers, making it a prominent player in the global Food and Beverage market.
#15 Colgate-Palmolive
Employees: 34K
Revenue: 15.7B$
Website: https://www.colgatepalmolive.com
Description: Colgate-Palmolive is a multinational consumer products company headquartered in New York City, United States. Founded in 1806, the company operates in the Food and Beverage industry. With approximately 34,000 employees, Colgate-Palmolive is known for its wide range of food and beverage products that cater to consumers around the world. The company's revenue in 2020 was approximately 15.7 billion US dollars. Colgate-Palmolive continues to innovate and provide high-quality products that meet the evolving needs and preferences of consumers in the food and beverage sector.
#14 General Mills
Employees: 40K
Revenue: 18B$
Website: https://www.generalmills.com
Description: General Mills, headquartered in Minneapolis, United States, is a leading player in the food and beverage industry. Founded in 1856, the company has a workforce of approximately 40,000 employees. With an annual revenue of 18 billion dollars, General Mills operates globally, offering a diverse portfolio of well-known consumer brands. The company's products span various categories including ready-to-eat cereals, yogurt, snacks, baking mixes, and more. General Mills focuses on innovation and sustainability, continually striving to meet the evolving needs and preferences of its customers while reducing its environmental impact.
#13 General Mills Inc.
Employees: 40K
Revenue: 18B$
Website: https://www.generalmills.com
Description: General Mills Inc. is a leading food and beverage company headquartered in Minneapolis, United States. Founded in 1928, the company has a workforce of approximately 40,000 employees. With an annual revenue of 18 billion dollars, General Mills operates in the food and beverage industry, offering a wide range of popular consumer brands. The company's portfolio includes well-known brands such as Cheerios, Betty Crocker, Pillsbury, Yoplait, Haagen-Dazs, and many others. General Mills focuses on providing convenient and nutritious food options to consumers around the world, with a commitment to sustainability and social responsibility.
#12 Mondelez International
Employees: 80K
Revenue: 25B$
Website: https://www.mondelezinternational.com
Description: Mondelez International is a global food and beverage company headquartered in Chicago, United States. Founded in 1903, the company has a rich history in the industry. With approximately 80,000 employees worldwide, Mondelez International is a major player in the food and beverage sector. The company generates a revenue of 25 billion dollars annually, making it one of the leading companies in the industry. Mondelez International operates in multiple continents, offering a wide range of products including chocolate, biscuits, gum, and candy. With its strong global presence and portfolio of iconic brands, Mondelez International continues to innovate and delight consumers around the world.
#11 Kraft Heinz Company
Employees: 39K
Revenue: 26B$
Website: https://www.kraftheinzcompany.com/
Description: The Kraft Heinz Company is a leading player in the Food and Beverage industry. With its headquarters in Chicago, United States, the company operates primarily in North America. Founded in 2015, the company has grown rapidly to become a key player in the industry. The Kraft Heinz Company employs approximately 39,000 individuals worldwide, contributing to its success and global reach. With a revenue of 26 billion dollars, the company has established itself as a major force in the food and beverage market. With a focus on innovation and quality products, The Kraft Heinz Company continues to thrive in the competitive industry.
#10 Heineken
Employees: 85K
Revenue: 28B$
Website: https://www.heineken.com/
Description: Heineken is a leading global brewing company headquartered in Amsterdam, Netherlands. Founded in 1864, the company has a rich history and is known for its high-quality beers. With approximately 85,000 employees worldwide, Heineken operates in the food and beverage industry, specifically focusing on brewing and selling beer. The company has a strong presence in Europe and is expanding its reach in other regions as well. Heineken's revenue reached 28 billion dollars, making it one of the largest players in the industry. Over the years, Heineken has built a strong brand image and continues to innovate in the beer market, offering a wide range of products to cater to different consumer preferences.
#9 Danone
Employees: 100K
Revenue: 30B$
Website: https://www.danone.com
Description: Danone, headquartered in Paris, France, is a leading multinational food and beverage company operating in the industry. Founded in 1919, Danone has grown to become one of the world's largest dairy product manufacturers. With approximately 100,000 employees, the company generates an annual revenue of 30 billion dollars. Danone offers a wide range of products including dairy products, plant-based alternatives, early life nutrition, medical nutrition, and waters. The company is committed to promoting health through its products and has a strong focus on sustainability and social responsibility.
#8 Coca-Cola
Employees: 80K
Revenue: 37B$
Website: https://www.coca-colacompany.com
Description: Coca-Cola is a beverage company headquartered in Atlanta, United States. Founded in 1886, the company has grown to become one of the leading players in the food and beverage industry. With approximately 80,000 employees worldwide, Coca-Cola operates in over 200 countries, offering a wide range of non-alcoholic beverages, including soft drinks, juices, and energy drinks. The company's iconic flagship product, Coca-Cola, is one of the most recognized and consumed beverages globally. Coca-Cola has achieved significant financial success, with annual revenues reaching 37 billion dollars. Through continuous innovation and strategic partnerships, Coca-Cola continues to expand its product portfolio and maintain its position as a market leader in the food and beverage industry.
#7 Tyson Foods
Employees: 141K
Revenue: 42B$
Website: https://www.tysonfoods.com
Description: Tyson Foods is a leading company in the food and beverage industry. Headquartered in Springdale, United States, Tyson Foods has been in operation since 1935. With a workforce of approximately 141,000 employees, the company is known for its production and distribution of various food products, including chicken, beef, pork, and prepared foods. Tyson Foods generates substantial revenue, with an estimated annual revenue of 42 billion dollars. The company has a strong presence in North America and is recognized for its commitment to quality, innovation, and sustainability in the food industry.
#6 Anheuser-Busch InBev
Employees: 150K
Revenue: 52B$
Website: https://www.anheuser-busch.com
Description: Anheuser-Busch InBev is a leading global company in the food and beverage industry, specializing in brewing and marketing of beer. Headquartered in St. Louis, United States, the company operates across North America, Europe, Latin America, Africa, and Asia-Pacific. With a rich history dating back to 1852, Anheuser-Busch InBev has become a prominent player in the industry, known for its iconic brands such as Budweiser, Stella Artois, and Corona. The company boasts a workforce of approximately 150,000 employees and generates an impressive annual revenue of 52 billion dollars. Through its extensive distribution network, Anheuser-Busch InBev ensures that its products reach consumers worldwide, contributing to its position as a global leader in the food and beverage market.
#5 Unilever
Employees: 150K
Revenue: 55B$
Website: https://www.unilever.com
Description: Unilever, headquartered in Rotterdam, Netherlands, is a multinational company operating in the Food and Beverage industry. Founded in 1930, the company employs approximately 150,000 individuals worldwide. With an annual revenue of 55 billion US dollars, Unilever is a major player in the industry. The company's diverse portfolio includes well-known brands such as Knorr, Lipton, Hellmann's, and Magnum, among others. Unilever's focus on sustainable and responsible business practices has positioned it as a leader in the industry, driving innovation and growth while prioritizing environmental and social impact.
#4 Sysco Corporation
Employees: 58K
Revenue: 60B$
Website: https://www.sysco.com
Description: Sysco Corporation, headquartered in Houston, United States, is a leading company in the Food and Beverage industry. Founded in 1969, Sysco operates as a distributor of food and related products, serving restaurants, healthcare and educational facilities, lodging establishments, and other customers who prepare meals away from home. With approximately 58,000 employees, Sysco generates an annual revenue of 60 billion dollars. The company's website, https://www.sysco.com, provides further information about their products, services, and operations.
#3 Archer Daniels Midland Company
Employees: 40K
Revenue: 64B$
Website: https://www.adm.com
Description: Archer Daniels Midland Company (ADM) is a global food and beverage processing and commodities trading corporation headquartered in Chicago, United States. Founded in 1902, ADM operates in the food and beverage industry, specializing in the production and processing of agricultural products, such as grains, oilseeds, and cocoa. With over 40,000 employees worldwide, ADM plays a crucial role in the supply chain, connecting farmers and customers with its extensive network of processing facilities, transportation assets, and distribution channels. The company's diverse product portfolio includes ingredients for food and beverage manufacturers, animal feed, biofuels, and industrial products. ADM's commitment to sustainability is evident through its efforts to reduce greenhouse gas emissions and conserve water resources throughout its operations.
#2 PepsiCo
Employees: 267K
Revenue: 70.4B$
Website: https://www.pepsico.com
Description: PepsiCo is a multinational food and beverage company headquartered in Purchase, United States. Founded in 1965, the company operates in the food and beverage industry. With approximately 267,000 employees, PepsiCo generates an annual revenue of 70.4 billion USD. The company's portfolio includes a wide range of popular brands such as Pepsi, Lay's, Gatorade, Quaker, and Tropicana. PepsiCo is known for its diverse product offerings, including carbonated soft drinks, snacks, juices, and ready-to-eat cereals. With a strong presence in North America and globally, PepsiCo continues to innovate and expand its market share in the food and beverage industry.
#1 Nestlé
Employees: 290K
Revenue: 92.6B$
Website: https://www.nestle.com
Description: Nestlé is a leading food and beverage company headquartered in Vevey, Switzerland. Founded in 1866, the company has grown to become one of the largest players in the industry. With approximately 290,000 employees, Nestlé operates globally and offers a wide range of products including baby food, bottled water, coffee, dairy products, pet food, and snacks. The company's annual revenue reached 92.6 billion US dollars, making it a major contributor to the global food and beverage market. Nestlé's commitment to quality, innovation, and sustainability has made it a trusted brand among consumers worldwide.
Summary
The food and beverage industry is a highly competitive sector that encompasses a wide range of companies involved in the production, distribution, and sale of food and beverages. Forbes recently conducted an analysis to identify the top companies in this sub-industry based on their financial performance, market presence, and innovation. The top companies were ranked according to their revenue, market capitalization, and overall industry influence.
One unexpected finding was the rise of plant-based food companies, which have experienced significant growth in recent years. These companies are capitalizing on the increasing consumer demand for healthier and more sustainable food options.
Among the premier companies in the food and beverage sub-industry are Nestle, The Coca-Cola Company, PepsiCo, Anheuser-Busch InBev, and Unilever. These multinational corporations have established themselves as industry leaders with their extensive product portfolios, global reach, and strong brand recognition.
One shared element among these leading firms is their commitment to innovation. They invest heavily in research and development to create new products and improve existing ones, staying ahead of changing consumer preferences and market trends. Additionally, these companies have embraced technology to optimize their operations, improve supply chain efficiency, and enhance customer engagement.
What sets these eminent companies apart from their industry rivals is their focus on sustainability and corporate social responsibility. They have implemented initiatives to reduce their environmental footprint, enhance the welfare of farmers and suppliers, and promote diversity and inclusion within their organizations. These efforts not only align with consumer values but also contribute to their long-term success.