15 Largest Food and Beverage Companies in the World in 2022 (Updated)
In this article, we will be taking a look at the 15 largest food and beverage companies in the world in 2022. To skip our detailed analysis, you can go directly to see the 5 largest food and beverage companies in the world in 2022.
The biggest food and beverage companies in the world in 2022 are mostly full of household names. The global food and beverage industry is worth trillions of dollars and grew from $5,818 billion in 2021 to jump to $6,327 billion in 2022 at a very decent compound annual growth rate (CAGR) of 8.7%. Despite facing several issues which we'll discuss in a moment, the industry is expected to grow to $7,942 billion by 2026 at a CAGR of 5.8% according to the Business Research Company.
The food and beverage sector was quite badly impacted by the coronavirus pandemic which engulfed the world in 2020. Most restaurants and bars were closed immediately and were among the last to open after restrictions were ended in most countries. Furthermore, the global supply chain was significantly affected as well, affecting the operations of most major corporations and especially those with international operations. According to a report by Deloitte, food and beverage companies faced lower consumptions during the pandemic even as at-home consumption increased, which typically has lower margins. Even though out of home consumption has now increased, it is still not at levels before the pandemic as many potential customers now prefer at-home consumption mainly for comfort reasons.
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While recovery from the pandemic loomed in early 2021, the Russia-Ukraine war turned everything on its head. The war has resulted in a lot of sanctions imposed by mainly the West has resulted in the prices of commodities soaring which has resulted in higher costs for the food and beverage industry. The supply chain has also faced disruption because of the war which has also resulted in uneven supply and higher costs. Further, inflation has soared globally with many countries facing record levels of soaring prices, which has reduced disposable income and hence, spending on food and beverages.
To determine the biggest food and beverage companies in the world in 2022, we referred to Forbes Global 2000 list and isolated those companies which are part of the food and beverage industry. We have only considered public companies because while there are companies such as Mars Wrigley which is a massive company, there is no information available as the company does not issue annual reports and of course, does not have a market cap. We considered three criteria namely revenue, market cap, profits and assets, with 30% weightage each assigned to the first three criteria and 10% to the last one. For market cap, we checked each company's latest market cap on Yahoo Finance and used it to base our rankings on. So, without further ado, let's take a look at the companies whose products you probably have in your home right now, starting with number 15:
15. Kellogg Company (NYSE:K)
Total revenue of the company (in billions of dollars): 14.2
Total profits of the company (in millions of dollars): 1,490
Total assets of the company (in billions of dollars): 18.2
Market value as at 31 October 2022 (in billions of dollars): 26.1
Kellogg Company (NYSE:K) is involved in the manufacture of cereal and convenience foods. Kellogg Company (NYSE:K) owns some of the most well-known food brands including Corn Flakes, Frosted Flakes, Rice Krispies, Eggo, Pringles and Cheez-it. Kellogg Company's (NYSE:K) has operations in more than 180 countries with its largest factory being located in the United Kingdom.
14. Keurig Dr Pepper Inc. (NASDAQ:KDP)
Total revenue of the company (in billions of dollars): 12.68
Total profits of the company (in millions of dollars): 2,150
Total assets of the company (in billions of dollars): 50.6
Market value as at 31 October 2022 (in billions of dollars): 55
Dr Pepper is one of the most popular drinks in the United States and the brand is owned by Keurig Dr Pepper Inc. (NASDAQ:KDP), which came into existence in 2018 after Keurig Green Mountain purchased Dr Pepper Snapple Group for $18.7 billion. Keurig Dr Pepper Inc. (NASDAQ:KDP), in addition to its beverages, is also engaged in the manufacture of coffee. Keurig Dr Pepper Inc. (NASDAQ:KDP) has more than 120 beverages and recently announced that it was building its second headquarters in Texas.
13. General Mills, Inc. (NYSE:GIS)
Total revenue of the company (in billions of dollars): 18.63
Total profits of the company (in millions of dollars): 2,300
Total assets of the company (in billions of dollars): 31.14
Market value as at 31 October 2022 (in billions of dollars): 48.4
Originally known for being a large flour miller, General Mills, Inc. (NYSE:GIS) both manufactures and markets branded consumer foods. General Mills, Inc.'s (NYSE:GIS) most famous brands include Annie's Homegrown, Betty Crocker, Häagen-Dazs and Cheerios among numerous others. General Mills, Inc. (NYSE:GIS) has more than 35,000 employees.
12. Danone
Total revenue of the company (in billions of dollars): 28.65
Total profits of the company (in millions of dollars): 2,240
Total assets of the company (in billions of dollars): 51.65
Market value as at 31 October 2022 (in billions of dollars): 32.2
Danone is a French food-products corporation with products sold in 120 countries.
11. The Kraft Heinz Company (NASDAQ:KHC)
Total revenue of the company (in billions of dollars): 26.04
Total profits of the company (in millions of dollars): 1,010
Total assets of the company (in billions of dollars): 93.4
Market value as at 31 October 2022 (in billions of dollars): 47.1
Formed through the merger of Kraft Foods and Heinz Company, The Kraft Heinz Company (NASDAQ:KHC) is one of the largest food and beverage companies in the world in 2022. Some of The Kraft Heinz Company's (NASDAQ:KHC) biggest brands include Philadelphia Cream Cheese, Boca Burgers and Gevalia in addition to of course the Kraft and Heinz brands.
10. Tyson Foods, Inc. (NYSE:TSN)
Total revenue of the company (in billions of dollars): 47.05
Total profits of the company (in millions of dollars): 3,700
Total assets of the company (in billions of dollars): 36.82
Market value as at 31 October 2022 (in billions of dollars): 24.6
Tyson Foods, Inc. (NYSE:TSN) is the second biggest processor of meat, pork and chicken. Tyson Foods, Inc. (NYSE:TSN) is also the biggest meat exporter in the United States. Tyson Foods, Inc. (NYSE:TSN) has faced a lot of criticism and scrutiny during the Covid-19 pandemic for not implementing best practices and resulting in the spread of the disease in its factories.
9. JBS
Total revenue of the company (in billions of dollars): 64.99
Total profits of the company (in millions of dollars): 3,800
Total assets of the company (in billions of dollars): 37.18
Market value as at 31 October 2022 (in billions of dollars): 11
The largest meat processing company in the world, JBS is a Brazilian company with more than 150 industrial plants across the world.
8. Diageo plc (NYSE:DEO)
Total revenue of the company (in billions of dollars): 19
Total profits of the company (in millions of dollars): 4,190
Total assets of the company (in billions of dollars): 44.91
Market value as at 31 October 2022 (in billions of dollars): 95.1
Diageo plc (NYSE:DEO) is a British alcoholic beverage company. With operations through 132 sites, Diageo plc (NYSE:DEO) used to be the biggest global distiller. Some of Diageo plc's (NYSE:DEO) biggest brands include Smirnoff, Baileys, Guinness, Johnnie Walker and Tanqueray gin.
7. Archer-Daniels-Midland Company (NYSE:ADM)
Total revenue of the company (in billions of dollars): 85.26
Total profits of the company (in millions of dollars): 2,710
Total assets of the company (in billions of dollars): 56.14
Market value as at 31 October 2022 (in billions of dollars): 53.3
Archer-Daniels-Midland Company (NYSE:ADM) is a food processing and commodity training company. With more than 270 plants and 420 crop procurement facilities worldwide, Archer-Daniels-Midland Company (NYSE:ADM) is an extremely important raw material provider to the food and beverage industry.
6. Mondelez International, Inc. (NASDAQ:MDLZ)
Total revenue of the company (in billions of dollars): 28.72
Total profits of the company (in millions of dollars): 4,300
Total assets of the company (in billions of dollars): 67.09
Market value as at 31 October 2022 (in billions of dollars): 84.3
Mondelez International, Inc. (NASDAQ:MDLZ) is an American company which also maintains operations in 160 countries globally. Some of Mondelez International, Inc.'s (NASDAQ:MDLZ) biggest brands include Chips Ahoy!, Oreo, Belvita, TUC, LU, Cadbury and Toblerone among many others. Mondelez International, Inc. (NASDAQ:MDLZ) has been the subject of many controversies including wheat price-fixing allegations, deforestation, business in Russia after the Russa-Ukraine war began and child slavery.
Click to continue reading and see the 5 Largest Food and Beverage Companies in the world in 2022.
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Disclosure: The initial version of this article incorrectly stated that TSN's revenue was $49 billion. The correct amount is $47 billion. No positions. 15 largest food and beverage companies in the world in 2022 is originally published at Insider Monkey.
