Murray Goulburn's dairy brand Devondale is the world's fastest growing food brand according to an annual report by valuation and strategy consultancy Brand Finance.
Devondale's brand value rose 35 per cent year-on-year, in the Brand Finance Food 50 report, which looks at the world’s 50 most valuable food brands. Devondale was ranked at number 37 in the 2017 list, up from 46 in 2016.
“Devondale is up 35 per cent year on year to US$1.5 billion,” the report said. "Its growth is the result of changing consumer tastes and growing demand in Asia, particularly ASEAN.”
Nestle is the world's most valuable food brand, according to the 2017 report, followed by Danone, Kellogg's, Kraft and Heinz.
According to the report, Unilever’s total portfolio value is US$42.9 billion, more than double that of KraftHeinz, which recently attempted a takeover.
The report also found that some of the world's biggest food brands experienced a challenging year, with the top four all losing brand value.
