Nestlé and PepsiCo were among the highest ranking consumer goods companies based on 2023 revenue, according to CGT’s Top 100 Consumer Goods Companies of 2024. Over the past year, the companies on this list have balanced cost-saving measures with bold investments in technology, AI, and consumer engagement to improve efficiency and stay competitive amid challenges like inflation, supply chain issues, and shifting consumer priorities.
Boasting a nearly $104 billion revenue and year-over-year growth of 4.7%, Nestlé topped the list overall. The company invested in OpenAI’s GPT-4 for business intelligence and expanded e-commerce to double consumer data records in four years. It also piloted VR for R&D and used 3D tech in Purina Petcare for better retail shelving.
Close behind, PepsiCo ranked third on the overall list and first among beverage companies. Despite experiencing its first quarterly revenue drop in 14 quarters in Q4 2023, the company made progress in its PepsiCo Positive sustainability program, replacing plastic rings with paperboard, and it invested in Instacart to enhance its delivery system.
Several other food and beverage brands also made the list, with JBS (#5), Tyson Foods (#8), and Coca-Cola (#10) in the top 10.
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