The pandemic bump has driven the snack and bakery industry to new heights. The total worldwide retail sales revenue from the industry is expected to surpass $400 billion in 2020.
According to the research data analyzed and published by Finaria, a huge chunk of the revenue is set to come from the top 25 snack and bakery companies by annual revenue worldwide.
Top 25 Food and Beverage Companies Net $91 Billion in Profit
With $101.5 billion in revenue in 2019, Nestle is listed as the top company in the snack and bakery industry. Pepsi Co was second with $67.2 while Mars, Inc. was third with $35.0 billion.
Ferrero debuted on the list in the ninth position with $12.6 billion thanks to its Keebler cookie category and Nutella. Keebler’s cookies have sold over $100 million in 2020. On the other hand, Nutella To Go and Nutella were estimated to be worth $92 million at the beginning of December 2020.
Moreover, the Forbes Global 2000 report for 2020 stated that the top 25 companies in the food and beverage industry generated $815 billion in revenue over the one-year period which ended in May 2020. Comparatively, they generated $800 billion in 2019 and $80 billion in profit versus $91 billion this year.
Nestle was also the top food and beverage company on the Global 2000 list. Its profit surged 30% in 2019 to nearly $13 billion. It has held the top position on the food and beverage list for a decade.
Pepsi Co was second on the list with $68.2 in sales and $7.2 billion in profit. Its close rival Coca Cola ranked third with $37.2 billion in sales and almost $10 billion in profit.