The coronavirus pandemic has driven up sales in the snack and bakery industry with revenue from retail sales expected to generate US$400 billion in 2020.
According to research published by Finaria, much of that amount will come from the top 25 snack companies by annual revenue worldwide.
Based on the 2020 Forbes’ Global 2000 report, the top 25 companies in the food and beverage industry generated $815 billion in revenue over the one-year period ending in May 2020.
Nestle got the top spot courtesy of its $101.5 billion 2019 revenue, while PepsiCo is second with $67.2 billion and Mars, Inc. is third with $35.0 billion.
Mondelez International is ranked fifth with $25.9 billion, Kraft Heinz sixth with $25.0 billion and General Mills seventh with $16.9 billion. Other popular names on the top 10 include Kellogg Co. in the eighth spot with $13.6 billion and Ferrero in the ninth spot with $12.6 billion.
Ferrero debuted on the list courtesy of its growing list of acquisitions. In 2019, the company acquired Keebler from Kellogg; a strong move as Keebler’s cookie category has sold over $100 million in 2020.
Nutella products and Nutella To Go crackers, also part of the Ferrero family, are estimated to be worth $92 million by Snack and Bakery at the beginning of December 2020.