Call it a panic buying or hoarding, but the coronavirus lumps made the food and beverage industry surge.
The top 25 companies in the sector generated revenues of $ 815 billion last year, up slightly from revenues of $ 800 billion in 2019, while profits for this sector increased to $ 91 billion, from $ 80 billion last year.
Nestle is again the largest food company in the world, holding the top position in the industry due to the sale of frozen staple foods such as Hot Pockets, Stouffer’s and DiGiorno surged with coffee brands such as Nespresso. The Swiss-based conglomerate sees 30% of sales from the US and adds overtime shifts to many of the nearly 70 factories in the United States to meet increasing demand.
Nestle’s profit last year was close to $ 13 billion, an increase of 30%. This is one of the main metrics Forbes use every year to analyze the company as part of Forbes Global List 2000 – a comprehensive ranking of the most powerful public companies in the world measured by a combined score of revenue, profits, assets and market value. Overall, Nestle is ranked # 41, up one place from last year.
Nestle was briefly removed by Anheuser-Busch InBev in 2018 but instead has held the title of a top food company for more than a decade. This year, AB InBev ranked second, after receiving sales of $ 2 billion when the coronavirus closed bars and stadiums across America, and was followed by Pepsi in third place.
Kraft-Heinz jumped to eighth position for the food industry this year, as staples are finding new popularity among customers who are looking for a longer shelf life amid orders to stay at home. It ranks No. 222 on the overall list. Success came after a difficult year, which included removal of $ 15 billion from its Kraft and Oscar Mayer brands, cutting its dividends, revealing SEC investigations into accounting and install a new CEO.
to request modification Contact us at Here or [email protected]