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In this article, we will be taking a look at the 24 largest publicly traded food companies in 2024. If you want to skip our detailed analysis of the food industry, you can go directly to see the 5 Largest Publicly Traded Food Companies in 2024.
Trends Shaping the Global Food Industry
The global food industry is currently experiencing significant transformations driven by changing consumer preferences, technological advancements, and sustainability concerns. A recent report from the International Food Information Council (IFIC) highlights a growing focus on functional foods and beverages that support mental and emotional well-being, with consumers increasingly seeking products that enhance their overall health. This trend is reflected in the rising popularity of plant-based proteins and botanicals, which are being incorporated into various food and drink options to meet the demand for healthier and more nutritious choices. According to the IFIC 2023 Food & Health Survey, about 74% of Americans believe that the foods and drinks they consume significantly or moderately affect their mental and emotional health.
Additionally, artificial intelligence (AI) is expected to play a significant role in how consumers approach food. An increasing number of consumers are expected to use AI tools for meal planning, nutrition advice, and food safety information. AI is also expected to revolutionize food production by making supply chains more resilient, reducing food waste, enabling precision farming, and facilitating innovative product development.
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Challenges in the Food Industry
The impact of economic factors and climate change continues to shape the food landscape. According to Global Food Industry Outlook 2024/2025 by Atradius, while global food production is expected to grow, challenges such as geopolitical tensions and climate risks pose challenges to the industry's stability. In 2023, the demand for luxury and non-essential food and drink items dropped as consumers worked to manage their household budgets amid rising inflation and higher interest rates.
On July 24, Reuters reported that the United Nations has warned that efforts to eliminate global hunger have stalled, as the number of people experiencing chronic hunger has not significantly changed over the past year. In 2023, approximately 2.33 billion individuals experienced moderate or severe food insecurity. Factors such as conflict, climate change, and economic crises are severely affecting food security. Although some regions have made progress, the overall global situation has worsened. If current trends continue, it is projected that around 582 million people will be chronically undernourished by the end of the decade, with half of them in Africa.
David Laborde, the Director for the Agri-Food Economics division at the Food and Agriculture Organization (FAO) of the United Nations, told Reuters:
"We are in a worse situation today than nine years ago when we launched this goal to eradicate hunger by 2030."
As the global population continues to rise, the food industry needs to change to meet the growing need for sustainable and healthy food choices. This situation requires governments, international organizations, and food companies to innovate and adapt to this changing landscape.
Responding to Trends and Challenges
Some of the biggest food companies are adapting to changing consumer demands and innovating to remain competitive in the evolving market. Nestlé S.A. (OTC:NSRGY) is a Swiss food and beverage company that topped our list of the biggest food companies in the world by revenue. With a diverse portfolio of over 2,000 brands, the company offers a wide range of products, including coffee, bottled water, dairy items, infant nutrition, pet food, cereals, frozen foods, and snacks. As a leader in the food industry, Nestlé S.A. (OTC:NSRGY) is committed to sustainability and innovation, with a focus on improving the nutritional quality of its products while reducing environmental impact.
On May 30, Nestlé S.A. (OTC:NSRGY) unveiled a limited-edition plant-based edible fork for its Maggi cup noodles in India. The two-piece fork, developed by Nestlé India's food science and packaging experts in collaboration with a local startup Trishula, is made from wheat flour and salt. This innovative packaging accessory is part of the company's commitment to eliminate or reduce the use of plastics in its products while ensuring food safety, consumer experience, and product taste and quality.
Nestlé S.A. (OTC:NSRGY) is committed to reducing food loss and waste while actively working to combat hunger in communities around the world. On March 25, the Swiss food giant announced that it has signed a Memorandum of Understanding (MOU) with The Global FoodBanking Network (GFN) to enhance their partnership focused on combating food insecurity and promoting environmental sustainability. This collaboration builds on Nestlé S.A.’s (OTC:NSRGY) existing efforts, which include donating an average of 5.2 million kilos of products annually to food banks. The partnership aims to improve access to food in various regions, with initiatives such as creating meal recipes for distribution in Australia and New Zealand, supporting families in Malaysia, and providing essential products in response to natural disasters in Greece and Mexico. This partnership aims to ensure that food reaches those in need while reducing food waste.
On top of all that, Nestlé S.A. (OTC:NSRGY) remains committed to adapting to evolving consumer demands. By continuously innovating its product portfolio, the company is solidifying its position as a leader in the food industry. On May 21, Nestlé S.A. (OTC:NSRGY) announced the launch of a new food brand called Vital Pursuit, designed specifically for users of GLP-1 weight loss medications and individuals focused on weight management in the US. This line features high-protein, fiber-rich products that contain essential nutrients and are portion-controlled to align with the appetite of those using weight loss medications. Vital Pursuit aims to provide accessible and nutritious meal options, including frozen bowls with whole grains or protein pasta, sandwich melts, and pizzas, all priced at $4.99 or less. This highlights Nestlé S.A.’s (OTC:NSRGY) commitment to meeting the evolving dietary needs of consumers, particularly as the use of GLP-1 medications rises in the United States. Projections suggest that up to 30 million Americans could be using these medications by 2030.
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Next, we will examine the 24 largest publicly traded food companies in 2024.
A B2B food distributor making sure grocery shelves are fully stocked with food.
Methodology
To compile our list of the 24 largest publicly traded food companies in 2024, we consulted stock screeners from Yahoo Finance and Finviz. To find the largest food companies in the world, we accessed these screeners and sorted the companies by their market capitalization as of August 16, 2024. We then picked the 24 largest publicly traded food companies in 2024 and ranked them in ascending order of their market capitalization.
Note: We converted market caps in foreign currencies to USD based on the exchange rates as of August 16.
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24 Largest Publicly Traded Food Companies in 2024
24. Associated British Foods plc (LON:ABF)
Market Capitalization: $23.63 Billion
Associated British Foods plc (LON:ABF) is a British multinational food processing and retailing company that ranks among the largest food companies in the world. The company operates across five main segments: Grocery, Ingredients, Agriculture, Sugar, and Retail. As of August 16, 2024, Associated British Foods plc (LON:ABF) has a market capitalization of $23.63 billion.
23. Foshan Haitian Flavouring and Food Company Ltd. (SHA:603288)
Market Capitalization: $27.08 Billion
Foshan Haitian Flavouring and Food Company Ltd. (SHA:603288) is a Chinese company that produces and markets condiments, sauces, and flavoring products. The company produces a variety of products, including soy sauce, oyster sauce, vinegar, cooking wine, chicken extract, and chicken powder. As one of the top food companies in the world, Foshan Haitian Flavouring and Food Company Ltd. (SHA:603288) has a market capitalization of $27.08 billion as of August 16, 2024.
22. Zomato Limited (NSE:ZOMATO)
Market Capitalization: $27.44 Billion
Zomato Limited (NSE:ZOMATO) is an Indian food service and delivery company. It operates a technology platform that connects customers, restaurant partners, and delivery partners. Users can use the platform to discover restaurants, leave reviews, order food, book tables, and make payments while dining out. For restaurant partners, the company offers specialized marketing tools to help them engage with customers and grow their businesses, along with reliable delivery services. Additionally, Zomato Limited (NSE:ZOMATO) operates Hyperpure, a one-stop procurement solution that supplies high-quality ingredients and kitchen products to restaurants. As of August 16, 2024, the company has a market capitalization of $27.44 billion.
21. Kellanova (NYSE:K)
Market Capitalization: $27.61 Billion
Kellanova (NYSE:K), previously known as the Kellogg Company, is an American multinational food manufacturing company. Specializing in snacking, cereals, noodles, and frozen foods, the company offers a diverse portfolio of iconic brands, including Pringles, Cheez-It, Pop-Tarts, All-Bran, Kellogg’s Corn Flakes, Rice Krispies, Krave and Kellogg’s Instant Noodles. As one of the biggest multinational food companies in the world, Kellanova (NYSE:K) has a market capitalization of $27.61 billion as of August 16, 2024.
20. Archer-Daniels-Midland Company (NYSE:ADM)
Market Capitalization: $28.25 Billion
Archer-Daniels-Midland Company (NYSE:ADM) is an American multinational food processing and commodities trading corporation that ranks among the top 20 on our list of the largest publicly traded food companies in 2024. As one of the world’s largest nutrition companies, the company uses crops and agriculture to provide ingredients and solutions for foods, beverages, and supplements. It also provides a wide range of solutions and services for livestock, aquaculture, and pets. As of August 16, 2024, Archer-Daniels-Midland Company (NYSE:ADM) has a market capitalization of $28.25 billion.
19. Nestlé India Limited (NSE:NESTLEIND)
Market Capitalization: $29.03 Billion
Nestlé India Limited (NSE:NESTLEIND) is the Indian subsidiary of the Swiss multinational food company Nestlé. The company produces a wide range of products under well-known brand names, including NESCAFÉ, MAGGI, MILKYBAR, KIT KAT, BAR-ONE, MILKMAID, and NESTEA. In recent years, Nestlé India Limited (NSE:NESTLEIND) has expanded its offerings to include essential daily products such as NESTLÉ Milk, NESTLÉ SLIM Milk, NESTLÉ Dahi, and NESTLÉ Jeera Raita, catering to the diverse needs of Indian consumers. The company has a market capitalization of $29.03 billion as of August 16, 2024.
18. Chocoladefabriken Lindt & Sprüngli AG (SWX:LISN)
Market Capitalization: $29.21 Billion
Chocoladefabriken Lindt & Sprüngli AG (SWX:LISN), commonly known as Lindt, is a renowned Swiss chocolatier. The company specializes in the production of premium chocolate products. Chocoladefabriken Lindt & Sprüngli AG (SWX:LISN) has a market capitalization of $29.21 billion as of August 16, 2024. It ranks 18th on our list of the biggest publicly traded food companies in the world.
17. Koninklijke Ahold Delhaize NV (AMS:AD)
Market Capitalization: $30.83 Billion
Koninklijke Ahold Delhaize NV (AMS:AD) is one of the world's largest food retail groups. The company’s business format includes supermarkets and e-commerce. Through its diverse family of brands, the company serves customers across the United States, Europe, and Indonesia. As of August 16, 2024, Koninklijke Ahold Delhaize NV (AMS:AD) has a market capitalization of $30.83 billion.
16. Restaurant Brands International Inc. (NYSE:QSR)
Market Capitalization: $31.79 Billion
Restaurant Brands International Inc. (NYSE:QSR) is one of the largest multinational food companies in the world. It owns some of the most prominent quick-service restaurant chains globally, including Tim Hortons, Burger King, Popeyes, and Firehouse Subs. Restaurant Brands International Inc. (NYSE:QSR) has a market capitalization of $31.79 billion as of August 16, 2024.
15. Muyuan Foods Co. Ltd. (SHE:002714)
Market Capitalization: $32.77 Billion
Muyuan Foods Co. Ltd. (SHE:002714) is a Chinese food company that ranks among the top 15 on our list of the largest publicly traded food companies in 2024. It is primarily engaged in the production and sale of commercial pigs, piglets, and pork products. As of August 16, 2024, Muyuan Foods Co. Ltd. (SHE:002714) has a market capitalization of $32.77 billion.
14. DSM-Firmenich AG (AMS:DSFIR)
Market Capitalization: $33.82 Billion
DSM-Firmenich AG (AMS:DSFIR) is a science-based company that specializes in nutrition, health, and beauty. The company produces a wide range of products including vitamins, nutrients, flavors, and specialty ingredients. DSM-Firmenich AG (AMS:DSFIR) has a market capitalization of $33.82 billion as of August 16, 2024.
13. Sysco Corporation (NYSE:SYY)
Market Capitalization: $37.65 Billion
Sysco Corporation (NYSE:SYY) is an American multinational corporation that ranks 13th on our list of the largest publicly traded food companies in 2024. It specializes in selling, marketing, and distributing food and non-food products to restaurants, lodging establishments, and healthcare and educational facilities. It serves customers in 90 different countries around the world. As of August 16, 2024, Sysco Corporation (NYSE:SYY) has a market capitalization of $37.65 billion.
12. General Mills Inc. (NYSE:GIS)
Market Capitalization: $38.42 Billion
General Mills Inc. (NYSE:GIS) is an American multinational corporation that manufactures and markets branded processed consumer food products sold through retail stores. The company’s portfolio of brands includes well-known names such as Cheerios, Häagen-Dazs, Nature Valley, Pillsbury, Betty Crocker, Old El Paso, Yoplait, Totino’s, Annie’s, Wanchai Ferry, and Yoki. As one of the largest food companies in the world, General Mills Inc. (NYSE:GIS) has a market capitalization of $38.42 billion as of August 16, 2024.
11. The Hershey Company (NYSE:HSY)
Market Capitalization: $39.14 Billion
The Hershey Company (NYSE:HSY), commonly referred to as Hershey's, is an American multinational snacks company. It manufactures chocolate, sweets, mints and other snacks. The company operates more than 90 well-known brands in around 80 countries. Some of its popular brands include Hershey's, Reese's, Kisses, Jolly Rancher, Twizzlers, and Ice Breakers. The Hershey Company (NYSE:HSY) also offers a variety of salty snacks, such as SkinnyPop, Pirate's Booty, and Dot's Homestyle Pretzels. As of August 16, 2024, the company has a market capitalization of $39.14 billion.
10. The Kraft Heinz Company (NASDAQ:KHC)
Market Capitalization: $41.85 Billion
The Kraft Heinz Company (NASDAQ:KHC), or simply Kraft Heinz, is an American multinational food and beverage company that ranks among the top 10 on our list of the largest publicly traded food companies in 2024. The company's products span various categories such as condiments and sauces, cheese and dairy, meals, meats, refreshment beverages, coffee, and other grocery items. The Kraft Heinz Company (NASDAQ:KHC) has a market capitalization of $41.85 billion as of August 16, 2024.
9. Danone S.A. (EPA:BN)
Market Capitalization: $42.99 Billion
Danone S.A. (EPA:BN) is a French multinational food and beverage corporation. It operates in four key areas: Essential Dairy and Plant-Based Products, Waters, Early Life Nutrition, and Medical Nutrition. The company’s products are sold in over 120 markets around the world. As of August 16, 2024, Danone S.A. (EPA:BN) has a market capitalization of $42.99 billion.
8. Compass Group PLC (LON:CPG)
Market Capitalization: $52.28 Billion
Compass Group PLC (LON:CPG) is a British multinational contract food service company that ranks 8th on our list of the largest publicly traded food companies in 2024. It provides food and support services across five market sectors, including business and industry, healthcare, education, and sports and leisure. Compass Group PLC (LON:CPG) operates in 33 countries around the world and has a market capitalization of $52.28 billion as of August 16, 2024.
7. DoorDash Inc. (NASDAQ:DASH)
Market Capitalization: $53.1 Billion
DoorDash Inc. (NASDAQ:DASH) is an American company that operates an online food ordering and food delivery platform. Operating in more than 30 countries around the world, the company connects consumers with their favorite restaurants. Customers can order from restaurants, convenience stores, grocery stores, and more through the DoorDash website or mobile app. As of August 16, 2024, DoorDash Inc. (NASDAQ:DASH) has a market capitalization of $53.1 billion.
6. Chipotle Mexican Grill Inc. (NYSE:CMG)
Market Capitalization: $71.85 Billion
Chipotle Mexican Grill Inc. (NYSE:CMG), commonly known as Chipotle, is an international chain of fast-casual restaurants. It specializes in burritos, tacos, burrito bowls, and salads. There are more than 3,500 restaurants in the US, Canada, the United Kingdom, France, Germany, and Kuwait. Chipotle Mexican Grill Inc. (NYSE:CMG) has a market capitalization of $71.85 billion as of August 16, 2024.
5. Hindustan Unilever Limited (NSE:HINDUNILVR)
Market Capitalization: $77.06 Billion
Hindustan Unilever Limited (NSE:HINDUNILVR) ranks among the top 5 on our list of the largest publicly traded food companies in 2024. As India’s leading fast-moving consumer goods company, it operates in various categories, including foods, beverages, cleaning agents, home care, and personal care and refreshment products. As of August 16, 2024, Hindustan Unilever Limited (NSE:HINDUNILVR) has a market capitalization of $77.06 billion.
4. Mondelez International Inc. (NASDAQ:MDLZ)
Market Capitalization: $93.66 Billion
Mondelez International Inc. (NASDAQ:MDLZ) is an American food company. The company’s portfolio of brands includes some of the world's most famous snack brands, including Oreo, Ritz, LU, Clif Bar and Tate's Bake Shop cookies and crackers, as well as Cadbury Dairy Milk, Milka and Toblerone chocolate. As one of the biggest multinational food companies, Mondelez International Inc. (NASDAQ:MDLZ) has operations in more than 80 countries around the world. The company has a market capitalization of $93.66 billion as of August 16, 2024.
3. Unilever PLC (NYSE:UL)
Market Capitalization: $152.36 Billion
Unilever PLC (NYSE:UL) is a British multinational fast-moving consumer goods company that ranks among the top 3 on our list of the largest publicly traded food companies in 2024. The company operates in various categories, including beauty and wellbeing, personal care, home care, nutrition, and ice cream. Some of Unilever PLC’s (NYSE:UL) most popular food and ice cream brands are Hellmann’s, Knorr, Horlicks, Wall’s, Ben & Jerry’s, and Magnum. The company’s products are sold in 190 countries around the world. As of August 16, 2024, Unilever PLC (NYSE:UL) has a market capitalization of $152.36 billion.
2. McDonald's Corporation (NYSE:MCD)
Market Capitalization: $199.77 Billion
McDonald's Corporation (NYSE:MCD) is an American multinational fast food chain that ranks second on our list of the largest food companies in the world. With more than 40,000 locations in over 100 countries, it is one of the world's leading food service brands. MCD is also one of the best food stocks with dividends. As of August 16, 2024, McDonald's Corporation (NYSE:MCD) has a market capitalization of $199.77 billion.
1. Nestlé S.A. (OTC:NSRGY)
Market Capitalization: $265.46 Billion
Nestlé S.A. (OTC:NSRGY) is a Swiss multinational food and beverage company that tops our list of the 24 largest publicly traded food companies in 2024. The company’s products include bottled water, coffee and tea, chocolate and confectionery, baby food, dairy products and ice cream, breakfast cereals, snacks, and frozen foods. With more than 2,000 brands and a presence in 188 countries, it is one of the largest multinational food companies in the world. Some of the company’s food and snack brands are Kit Kat, Smarties, Nesquik, Stouffer's, and Maggi. Nestlé S.A. (OTC:NSRGY) has a market capitalization of $265.46 billion as of August 16, 2024.
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Disclosure: None. This article was originally published on Insider Monkey.