In every supermarket, hypermarket, and even the tiniest grocery store worldwide, an infinite array of food items awaits. It’s astonishing to realize that the vast variety of foods lining the aisles of stores big and small alike are all under the control of only 10 major companies. These corporations manufacture and distribute the majority of the items we select for our shopping carts.
The market-dominating companies are reaping extraordinary profits. Last year, the top 25 companies in the sector collectively earned $1.8 trillion in revenues, with profits exceeding $160 billion. Notably, Nestlé Food and Beverage Manufacturing Company, the world’s largest food company, achieved sales surpassing $98 billion, as reported by Forbes in a recent publication.
A recent report released by ETC, an environmental justice group, reveals that a few major corporations are increasingly controlling the global food industry, aided by the growing reliance on “big data” and artificial intelligence.
Two companies now dominate 40% of the world’s commercial seed market, showcasing their immense power and control. This stark contrast to 25 years ago, when 10 companies held the same market share, was highlighted in a report by The Guardian.
Food prices have surged in the last two years as a result of the Russian-Ukrainian conflict, global geopolitical unrest, and the lingering impacts of the Covid-19 pandemic. These factors have driven profits to unprecedented levels for these companies.
Corporations control everything you eat.
This report will showcase the top 10 transcontinental companies dominating the global food industry in 2023. It will highlight their annual revenues, acknowledging that their ranking is dynamic due to shifts in control centers among them, despite their consistent position as the world’s largest companies.
Cargill – $177 billion
Cargill Incorporated, a private multinational company based in Minnesota, USA, specializes in trading, purchasing, and distributing grains and various agricultural commodities.
In 2023, Cargill generated revenues totaling around $177 billion.
Nestlé (Switzerland) – $104 billion
Nestlé, the world’s largest food and beverage company, reported annual revenues of approximately $103.9 billion in 2023, marking a 4.7% increase from the previous year.
Nestlé, established in 1866 and headquartered in Switzerland, operates across 191 countries globally. The company offers a diverse range of products including baby food, bottled water, cereals, chocolate, coffee, cooking items, dairy goods, and pet care items. Known for its commitment to research and development, Nestlé has introduced innovative technologies like Nespresso, a popular line of coffee machines.
Archer Daniels Midland (USA) – $94 billion
An American company specializing in processing agricultural commodities to create food ingredients, animal feed, and biofuels. Their product portfolio features renowned brands like Golden Temple, ADM, and Harvest Innovations. With an annual revenue of $93.94 billion in 2023.
PepsiCo (USA) – $91 billion
PepsiCo holds the second position among the largest food and beverage companies globally. The company’s 2023 revenues amounted to approximately $91.4 billion, marking a 5.8% increase from the previous year.
Headquartered in the United States of America, the company was founded in 1965 following the merger of Pepsi-Cola and Frito-Lay. It specializes in a wide range of food and beverages, including soft drinks, snacks, juices, sports drinks, and energy drinks. Among its prominent brands are Lay’s, Doritos, Tropicana, and more.
GPS (Brazil) – $71 billion
Founded in 1953 as a humble butcher shop, this Brazilian company has evolved into a global leader in meat processing. Its diverse portfolio features beef, pork, lamb, and chicken products. By 2023, the company had generated revenues of approximately $71.1 billion.
Tyson Foods (USA) – $52.9 billion
Another American corporation, the largest meat processing company in the United States, offers a diverse array of meat and poultry items. Additionally, it plays a role in creating prepared foods like pizza, snacks, and appetizers. As of 2023, the company boasted an annual revenue of $52.881 billion.
March (USA) – $50 billion
Founded in 1911, Mars is an American company known for its production of confectionery products, pet food, and other food items. Among its renowned brands are “M&M’s,” “Snickers,” “Royal Canin,” and more.
In 2023, the company generated approximately $50 billion in revenue, with $18 billion attributed to sales from its snacks division, which includes popular products like Snickers, M&Ms, and more.
Coca-Cola Company (USA) – $45 billion
Coca-Cola stands as a global giant in the food and beverage industry, with a remarkable 6.39% revenue growth in 2023, reaching $45.754 billion, compared to 2022.
Headquartered in the United States of America, the company was established in 1886 and is renowned for creating the world’s most iconic soft drink, Coca-Cola. Alongside soft drinks, their product range encompasses energy drinks, bottled water, tea, and coffee.
Olam Group (Singapore) – $35 billion
Based in Singapore, this company stands as one of the largest agri-trading firms globally. They provide food ingredients, feed, and fiber to a multitude of customers worldwide, ranging from renowned global brands to small, family-owned enterprises. In 2023, the company achieved revenues of $35.97 billion.
Danone (France) $27 billion
Founded in 1919, Danone is a renowned French food and beverage company known for its expertise in dairy products, bottled water, medical foods, and baby foods. Alongside the flagship brand Danone, the company boasts ownership of well-known brands like Evian, Activia, Volvic, and Nutricia. By 2023, the company had achieved consolidated sales of around 27.6 billion euros.
