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Coca-Cola retained its position as the world’s most valuable soft drinks brand in the latest report by brand valuation consultancy Brand Finance.

The American drinks giant, which recorded a 19 percent increase in brand value to reach $36.2 billion (£29 billion), is also adjudged as the world’s strongest brand across the food and non-acholic drink sectors with a Brand Strength Index (BSI) score of 89.94 out of 100 and a corresponding AAA+ brand strength rating by the consultancy.

Nestlé topped the food ranking, although its brand value increased by just 1 percent year on year to $19.6 billion. The firm’s brand portfolio is the most valuable across the food and drinks sector with a combined brand value of $70.5 billion, up 11 percent on the previous year.

Recording a better performance than its flagship brand which suffered a decrease of 8 percent, PepsiCo has retained its position as the second most valuable food and drink portfolio, following a 7 percent increase in total brand value to $58.9 billion.

The Coca-Cola Company, sitting in third, has seen a 19 percent jump in its portfolio’s brand value to $53.6 billion, further closing the gap behind PepsiCo.

Corporate brands Kraft (down 7% to $4.5 billion), Unilever (down 5% to $4.2 billion), and Heinz (down 14% to $3.3 billion) have all suffered from a decline in brand values, with Unilever and Heinz falling out of the top 10 in the food ranking.

Dairy brands Danone and Yili claim second and third place in the food ranking respectively and top the dairy ranking.

After recording an impressive 24 percent increase in brand value to $7.7 billion, Yili, Asia’s most valuable dairy brand for 4 years running, has closed the gap considerably with Danone, after the French giant suffered a 10 percent loss in brand value to $8.1 billion.

Fellow Chinese brand, Mengniu, has also recorded a significant increase in brand value (up 45% to $5.0 billion) and has entered the top 10 in the food ranking for the first time. Canada’s McCain has also entered the food top 10 for the first time (up 25% to $4.7 billion).

PepsiCo-owned porridge brand Quaker is the sector’s fastest-growing, recording an impressive 57 percent increase in brand value to $3.0 billion. Chinese brands Haitian (brand value $3.3 billion) and Want Want (up 50% to $3.0 billion) are also standout brands in the ranking.