Top 100 CPG companies

Ranked by FY2025 revenue, with FY2024 used only where 2025 reporting is genuinely unavailable. Choose any year to compare the field.

Showing 100 companies · USD millions

Rank	Company	HQ country	Categories	FY2025 revenue (USD M)	2015–25 CAGR
1	Nestlé SIX Swiss Exchange · NESN	Switzerland	FoodBeverageDairyPet CareBaby CareConsumer Health	$107,951M	+1.6%
2	PepsiCo, Inc. NASDAQ · PEP	United States	FoodBeverageSnacks	$93,925M	+4.1%
3	JBS S.A. B3 · JBSS3	Brazil	Food	$86,184M	+5.7%
4	The Procter & Gamble Company NYSE · PG	United States	HouseholdPersonal CareBeautyBaby Care	$84,284M	+1.8%
5	Anheuser-Busch InBev Euronext Brussels · ABI	Belgium	AlcoholBeverage	$59,320M	+3.1%
6	Unilever London Stock Exchange · ULVR	United Kingdom	FoodPersonal CareBeautyHousehold	$57,084M	+1.0% est.
7	Mars, Incorporated ·	USA	SnacksFoodPet Care	$55,000M est.	n/a
8	Tyson Foods, Inc. NYSE · TSN	United States	Food	$54,441M	+2.8%
9	L'Oréal Euronext Paris · OR	France	Beauty	$49,778M	+5.9%
10	The Coca-Cola Company NYSE · KO	United States	Beverage	$47,941M	+0.8%
11	Philip Morris International Inc. NYSE · PM	United States	Tobacco	$40,648M	+4.3%
12	Heineken Euronext Amsterdam · HEIA	Netherlands	AlcoholBeverage	$38,710M	+5.5%
13	Mondelez International, Inc. NASDAQ · MDLZ	United States	FoodSnacksBeverage	$38,537M	+2.7%
14	British American Tobacco London Stock Exchange · BATS	United Kingdom	Tobacco	$33,767M	+5.4%
15	Danone Euronext Paris · BN	France	FoodDairyBaby CareBeverage	$30,829M	+2.2%
16	MBRF S.A. (Marfrig) B3 · MBRF3	Brazil	Food	$29,383M	n/a
17	WH Group Limited HKEX · 0288	China	Food	$28,026M	+2.8%
18	The Kraft Heinz Company NASDAQ · KHC	United States	FoodBeverage	$24,942M	+3.1%
19	Coca-Cola Europacific Partners Euronext Amsterdam · CCEP	United Kingdom	Beverage	$23,618M	n/a
20	Kweichow Moutai Co., Ltd. SSE · 600519	China	Alcohol	$23,494M	+16.1%
21	Altria Group, Inc. NYSE · MO	United States	Tobacco	$23,279M	-0.9%
22	Japan Tobacco Inc. TSE · 2914	Japan	TobaccoFood	$23,187M	+1.9%
23	Henkel Xetra (Deutsche Börse) · HEN3	Germany	Personal CareBeautyHousehold	$23,159M	+1.4%
24	Suntory Holdings Limited ·	Japan	BeverageAlcoholFood	$22,957M est.	+0.3%
25	Grupo Bimbo, S.A.B. de C.V. BMV · BIMBOA	Mexico	FoodSnacks	$22,268M	+4.9%
26	Ferrero ·	Italy	FoodSnacks	$21,809M est.	n/a
27	Colgate-Palmolive Company NYSE · CL	United States	HouseholdPersonal Care	$20,382M	+2.4%
28	Diageo London Stock Exchange · DGE	United Kingdom	AlcoholBeverage	$20,245M	+1.7%
29	General Mills, Inc. NYSE · GIS	United States	FoodSnacksPet Care	$19,487M	+1.0%
30	Asahi Group Holdings, Ltd. TSE · 2502	Japan	AlcoholBeverageFood	n/a	n/a
31	CJ CheilJedang Corporation KRX · 097950	South Korea	Food	$19,247M	+5.4%
32	Reckitt Benckiser London Stock Exchange · RKT	United Kingdom	HouseholdPersonal CareBaby CareConsumer Health	$18,728M	+3.3%
33	Keurig Dr Pepper Inc. NASDAQ · KDP	United States	Beverage	$16,603M	+10.2%
34	Kimberly-Clark Corporation NYSE · KMB	United States	HouseholdPersonal CareBaby Care	$16,447M	-1.2%
35	Kirin Holdings Company, Limited TSE · 2503	Japan	AlcoholBeverage	$16,275M	-1.1%
36	Coca-Cola FEMSA, S.A.B. de C.V. NYSE · KOF	Mexico	Beverage	$16,203M	+6.2%
37	Inner Mongolia Yili Industrial Group Co., Ltd. SSE · 600887	China	DairyBeverageFood	$16,132M	+5.3%
38	Kenvue Inc. NYSE · KVUE	United States	Consumer HealthPersonal CareBeauty	$15,124M	n/a
39	Haleon London Stock Exchange · HLN	United Kingdom	Consumer HealthPersonal Care	$14,538M	n/a
40	The Estee Lauder Companies Inc. NYSE · EL	United States	BeautyPersonal Care	$14,326M	+2.9%
41	Essity Nasdaq Stockholm · ESSITY B	Sweden	Personal CareHouseholdBaby Care	$14,151M	+1.9%
42	Red Bull ·	Austria	Beverage	$13,788M est.	n/a
43	Saputo Inc. TSX · SAP	Canada	DairyFood	$13,638M	n/a
44	Carlsberg Nasdaq Copenhagen · CARL B	Denmark	AlcoholBeverage	$13,489M	+3.3%
45	Coca-Cola HBC London Stock Exchange · CCH	Switzerland	Beverage	$13,113M	+6.4%
46	Arca Continental, S.A.B. de C.V. BMV · AC	Mexico	BeverageFoodSnacks	$13,052M	n/a
47	Pernod Ricard Euronext Paris · RI	France	AlcoholBeverage	$12,383M	+2.7%
48	Hormel Foods Corporation NYSE · HRL	United States	Food	$12,106M	+2.7%
49	The Hershey Company NYSE · HSY	United States	FoodSnacksBeverage	$11,693M	+4.7%
50	Conagra Brands, Inc. NYSE · CAG	United States	FoodSnacks	$11,613M	+2.5%
51	China Mengniu Dairy Company Limited HKEX · 2319	China	Dairy	$11,444M	+3.9%
52	Kao Corporation TSE · 4452	Japan	HouseholdPersonal CareBeauty	$11,294M	n/a
53	JDE Peet's Euronext Amsterdam · JDEP	Netherlands	Beverage	$11,211M	n/a
54	Molson Coors Beverage Company NYSE · TAP	United States	AlcoholBeverage	$11,141M	+12.1%
55	Beiersdorf Xetra (Deutsche Börse) · BEI	Germany	Personal CareBeauty	$11,133M	+4.1%
56	Tingyi (Cayman Islands) Holding Corp. HKEX · 0322	China	FoodBeverage	$11,002M	+1.9%
57	Imperial Brands London Stock Exchange · IMB	United Kingdom	Tobacco	$10,964M	+1.4%
58	The Campbell's Company NYSE · CPB	United States	FoodSnacksBeverage	$10,253M	+2.4%
59	Ajinomoto Co., Inc. TSE · 2802	Japan	Food	$10,236M	n/a
60	Constellation Brands, Inc. NYSE · STZ	United States	AlcoholBeverage	$10,209M	+5.4%
61	Thai Beverage Public Company Limited SGX · Y92	Thailand	AlcoholBeverageFood	$10,143M	+7.3%
62	Minerva S.A. B3 · BEEF3	Brazil	Food	$9,818M	n/a
63	ITC Limited NSE · ITC	India	TobaccoFoodPersonal Care	$9,366M	n/a
64	The Magnum Ice Cream Company Euronext Amsterdam · MICC	Netherlands	Food	$8,940M	n/a
65	Yamazaki Baking Co., Ltd. TSE · 2212	Japan	Food	$8,771M	n/a
66	The J. M. Smucker Company NYSE · SJM	United States	FoodBeveragePet Care	$8,726M	+4.4%
67	Monster Beverage Corporation NASDAQ · MNST	United States	Beverage	$8,294M	+11.8%
68	Post Holdings, Inc. NYSE · POST	United States	FoodBeverage	$8,158M	+5.8%
69	Meiji Holdings Co., Ltd. TSE · 2269	Japan	FoodDairy	$7,718M	n/a
70	PT Indofood Sukses Makmur Tbk IDX · INDF	Indonesia	FoodBeverage	$7,533M	+4.6%
71	Nongfu Spring Co., Ltd. HKEX · 9633	China	Beverage	$7,313M	n/a
72	Coca-Cola Consolidated, Inc. NASDAQ · COKE	United States	Beverage	$7,228M	n/a
73	Lindt & Sprüngli SIX Swiss Exchange · LISN	Switzerland	FoodSnacks	$7,136M	+6.5%
74	The Clorox Company NYSE · CLX	United States	Household	$7,104M	+2.3%
75	Orkla Oslo Børs · ORK	Norway	FoodSnacksPersonal CareHousehold	$6,900M	+5.6%
76	McCormick & Company, Incorporated NYSE · MKC	United States	Food	$6,840M	+4.8%
77	Shiseido Company, Limited TSE · 4911	Japan	BeautyPersonal Care	$6,487M	+0.3%
78	Lamb Weston Holdings, Inc. NYSE · LW	United States	Food	$6,451M	+8.2%
79	Gruma, S.A.B. de C.V. BMV · GRUMAB	Mexico	Food	$6,375M	+6.5%
80	Unicharm Corporation TSE · 8113	Japan	Baby CarePersonal Care	$6,322M	+0.4%
81	Church & Dwight Co., Inc. NYSE · CHD	United States	HouseholdPersonal Care	$6,203M	+6.2%
82	Anadolu Efes Biracılık ve Malt Sanayii A.Ş. BIST · AEFES	Turkey	AlcoholBeverage	$6,184M	n/a
83	Anadolu Efes Borsa Istanbul · AEFES	Türkiye	AlcoholBeverage	$6,180M	n/a
84	Coty Inc. NYSE · COTY	United States	BeautyPersonal Care	$5,893M	+3.0%
85	Almarai Company Tadawul · 2280	Saudi Arabia	DairyBeverageFood	$5,884M	+4.8%
86	Emmi SIX Swiss Exchange · EMMN	Switzerland	FoodDairyBeverage	$5,721M	n/a
87	Wuliangye Yibin Co., Ltd. SZSE · 000858	China	Alcohol	$5,640M	+5.1%
88	Shanxi Xinghuacun Fen Wine Factory Co., Ltd. SSE · 600809	China	Alcohol	$5,388M	+23.4%
89	China Resources Beer (Holdings) Company Limited HKEX · 0291	China	Alcohol	$5,286M	+2.1%
90	Nissin Foods Holdings Co., Ltd. TSE · 2897	Japan	Food	$5,194M	n/a
91	Flowers Foods, Inc. NYSE · FLO	United States	Food	n/a	n/a
92	Herbalife Ltd. NYSE · HLF	United States	Consumer HealthFood	$5,038M	+1.2%
93	Kikkoman Corporation TSE · 2801	Japan	Food	$4,742M	+4.5%
94	KT&G Corporation KRX · 033780	South Korea	TobaccoFood	$4,632M	+2.5%
95	Tsingtao Brewery Company Limited SSE · 600600	China	Alcohol	$4,519M	+0.3%
96	LG Household & Health Care, Ltd. KRX · 051900	South Korea	HouseholdPersonal CareBeauty	$4,474M	-0.4%
97	Cal-Maine Foods, Inc. NASDAQ · CALM	United States	Food	$4,262M	+10.5%
98	Perrigo Company plc NYSE · PRGO	United States	Consumer HealthPersonal Care	$4,253M	+0.1%
99	Megmilk Snow Brand Co., Ltd. TSE · 2270	Japan	Dairy	$4,119M	-1.5%
100	Foshan Haitian Flavouring and Food Company Ltd. SSE · 603288	China	Food	$4,018M	+8.4%

Compare companies

Plot up to six companies on the same 2015–2025 chart. Switch to indexed growth to compare trajectories regardless of company size.

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Chart view

Annual company revenue in USD millions. Missing years appear as gaps.

Revenue by category

See how the revenue footprint of the top 100 has shifted across food, beverage, household, personal care and other CPG categories.

Aggregate company revenue

USD millions · 2015–2025

Each company’s full revenue is counted under every category it operates in. Categories overlap and do not sum to industry revenue.

Revenue by market presence

Aggregate revenue of top-100 companies reporting operations in each global region.

Aggregate company revenue

USD millions · 2015–2025

Each company’s full revenue is counted under every market where it operates. Regions overlap. These figures show the operating footprint of companies in this ranking—not total regional CPG sales.

GLP-1: words vs. actions

What C-suite leaders said in earnings calls, interviews, podcasts and media appearances—matched against the products, acquisitions, capex and earnings that followed.

0top-25 CPG companies booked a quantified GLP-1 sales loss

1dedicated GLP-1 brand among the top 25: Nestlé’s Vital Pursuit

26existing Conagra meals received a GLP-1-friendly label without reformulation

6company cases trace leadership words through action and reported results

Analysis 01 · GLP-1

From “overblown” to protein checkbooks

2023: dismiss

Mondelēz modeled a 0.5%–1% volume effect a decade away; PepsiCo said it saw no impact.

2024–25: position

Vital Pursuit launched and Conagra added a GLP-1 badge to 26 unchanged meals.

2025–26: spend

Protein and meal-replacement capacity and M&A finally moved from narrative to capital.

Mondelēz

Matched

Said

“The whole topic has been overblown… 0.5% to 1% volume effect ten years down the road.”

Dirk Van de Put, Q3 2023 earnings call

Did

No GLP-1-specific spending was found. Capital stayed behind snacking: $2.9B for Clif Bar, about $2B for Chipita, and a $9B buyback authorized in 2025.

Reported result

FY2025 revenue reached $38.54B, up 5.8%, but volume/mix fell 3.7% and diluted EPS fell 44.7% amid cocoa costs. The filing did not quantify a GLP-1 loss.

Sources: verified earnings-call quote via Just Food; Mondelēz FY2025 filing.

Nestlé

Partial

Said

GLP-1 fears had become an “opportunity”; users’ nutritional needs were “just shifting.”

Mark Schneider, CNBC, May 2024 · caption-derived and independently corroborated

Did

Launched Vital Pursuit, the only named GLP-1-dedicated brand among the top 25, then bought the rest of Yfood for about €450M. It also rebundled existing products on a GLP-1 nutrition site.

Reported result

FY2025 revenue rose 4.3% to $107.95B, while underlying trading operating margin fell 110 bps. Yet 77% of Vital Pursuit sales came from households without a GLP-1 user.

Sources: CNBC caption transcript; AP reporting summarized in the research; Nestlé FY2025 results.

Danone

Matched

Said

“We are not at peak protein… GLP-1 is helping.”

Antoine de Saint-Affrique, June 2026 · previously verified; nearest on-disk record is a May CNBC caption transcript

Did

Completed a majority investment in Kate Farms and agreed to buy Huel for a reported ~€1B. Danone did not disclose Huel’s price, and neither deal release named GLP-1 as the motive.

Reported result

FY2025 revenue rose 4.0% to $30.83B; like-for-like sales grew 4.5%. No quantified GLP-1 impact was disclosed.

Sources: CNBC caption transcript and press reporting; Danone FY2025 results.

Coca-Cola

Retrofitted

Said

“You definitely see less snacking… more diet, more protein drinks… it’s a portfolio play.”

James Quincey, CNBC, January 2026 · caption-derived

Did

Committed two separate $650M Fairlife investments. The Webster, New York plant was announced in 2023, before the GLP-1 framing; the Michigan investment is an expansion, not a new plant.

Reported result

FY2025 revenue rose 2% to $47.94B; organic revenue grew 5%. Real protein capex, but the story arrived after the first check.

Sources: CNBC caption transcript; Reuters GLP-1 investment review.

Conagra

Contradicted

Said

“If we end up seeing… smaller portions… then we design smaller portions.”

Sean Connolly, Q1 FY2024 call, October 2023 · press-reported

Did

Put an “On Track” / “GLP-1 Friendly” badge on 26 existing Healthy Choice meals. In a 2026 CPG Guys podcast, Bob Nolan said: “We didn’t need to change the products at all.”

Reported result

Revenue fell from $12.28B in 2023 to $11.61B in 2025. FY2026 brought a $1.62B net loss including impairments and a 50% dividend cut; GLP-1 was one pressure among several, not a proven sole cause.

Sources: Reuters and publisher-provided CPG Guys transcript; FoodNavigator label review.

Kraft Heinz

Words moved

Said

Carlos Abrams-Rivera said in 2024 there was no meaningful impact. New CEO Steve Cahillane said in December 2025: “I think it has an impact on the portfolio, there’s no doubt about it.”

Did

No GLP-1-specific product action was found. The company instead paused its planned split and announced a $600M commercial-investment plan.

Reported result

FY2025 revenue fell 3.5% to $24.94B; organic sales fell 3.4%, and $9.3B of non-cash impairments drove a $4.7B operating loss. The company did not attribute those figures to GLP-1.

Sources: Reuters-reported executive comments; Kraft Heinz FY2025 results.

What is still unknown: no top-25 company quantified an actual GLP-1 sales loss through September 14, 2026. That means the result column can show correlation and management attribution—but not prove GLP-1 caused a revenue or earnings move.

How this view was tested

Leadership claims from earnings calls, official appearances, Brave Commerce, CPG Guys and other public interviews were checked against filings, launches, M&A, capex and margin disclosures. Podcast and video captions are labeled by provenance because machine transcripts can contain errors.

Snapshot date: September 14, 2026. This is a fixed research snapshot and does not update automatically.

The retailer toll

A money-flow analysis of the same say / do / result gap: what brand leaders said about retail media, how advertising budgets moved, and how much of that growth retailers captured.

≈⅓of Mars Pet Nutrition media was routed through retail media networks

$68.6BAmazon advertising revenue in 2025—more than Coca-Cola’s total sales

+27%Walmart global advertising growth in FY2025, to about $4.4B

$649MTarget Roundel advertising revenue in FY2025, up 25%

Analysis 02 · Brand money → retailer media

Brands are spending more. Retailers are keeping more of it.

1. The toll

Retailers ask for media dollars tied to the sales they already generate for a supplier.

2. The lever

Brands move national media into retailer networks to win placement, distribution and shopper data.

3. The second bite

The same retailers use stronger economics to build private labels that compete with national brands.

Brand budgets kept rising

Disclosed advertising or advertising-and-promotion, FY2021 → FY2025. Definitions differ by company.

P&G

$8.2B → $9.2B · +12%

Coca-Cola

$4.0B → $5.4B · +35%

Colgate

$2.02B → $2.70B · +34%

L’Oréal

€10.59B → €14.18B · +34%

Retail media grew faster

Retailer advertising businesses, FY2025 year-over-year. This is a one-year rate, not the four-year brand-budget period at left.

Amazon Ads

$68.64B · +22%

Walmart

~$4.4B · +27%

Target

$649M · +25%

Nestlé

Unproven

Said

“We’re going to move [the $30M] from national media… to retailer media… what items are you going to put at eye level?”

Veeral Shah, Brave Commerce panel recorded May 2024 · machine transcript

Did

Described retail media as explicit shelf-placement currency. The public record does not disclose whether the example $30M shift occurred or what it returned.

Reported result

E-commerce reached 20.5% of Group sales in FY2025—barely above the roughly 20% cited in the interview and short of the stated 25%–30% path. Margin fell 110 bps.

Sources: Brave Commerce episode audio; Nestlé FY2025 results.

Mars Petcare

Matched

Said

“Almost a third of our media” runs through retail media networks, with Amazon targeting delivering “two to three times” average campaign ROI.

Jean-Paul Jansen, Brave Commerce, January 2025 · machine transcript

Did

Mars formalized a scored retail-media program and renewed first-party customer-data work. A six-week Dine campaign with Amazon Ads generated 29.3M impressions and a 73% Amazon unit-sales lift.

Reported result

This is the cleanest transcript-to-action match in the sample, but Mars is private: no audited FY2025 revenue or earnings are available to test the company-level payoff.

Sources: Brave Commerce episode audio; Dine × Amazon Ads results.

P&G

Disciplined

Said

“What media channels, including retail media, are actually growing the market, driving trips, driving baskets?”

Jon Moeller, Morgan Stanley conference, July 2025 · caption-derived

Did

Advertising rose from $8.2B to $9.2B between FY2021 and FY2025 while buybacks fell from $11.0B to $6.5B. Management funded brand investment but asked retail media to prove incrementality.

Reported result

Revenue grew 10.7% from 2021 to 2025, though FY2024 organic growth was entirely pricing with volume flat. More spend defended the franchise; it did not create a clear volume breakout.

Sources: P&G FY2025 results; P&G productivity and media.

Unilever

Matched

Said

Management reported US digital-commerce sales up 25% in FY2025, “driven by retail media and content,” and said digital commerce reached 17% of revenue.

Did

Brand and marketing investment rose from 15.5% of turnover in 2024 to a decade-high 16.1% in 2025 while the portfolio was simplified.

Reported result

FY2025 underlying sales grew 3.5%, including 1.5% volume growth; underlying operating margin reached 20.0%, up 60 bps. This is the strongest disclosed spend-to-volume match in the sample.

Sources: Unilever FY2025 highlights; digital-commerce disclosure.

Mondelēz

Pressure test

Said

Retail media’s “jump” helped bring marketing and sales together around how people behave in the store.

Mindy Shaltry and Wes Saraceni, Brave Commerce, July 2026 · machine transcript

Did

Advertising moved from $1.56B in 2021 to $1.66B in 2025 after peaking at $2.11B in 2024. FY2025 disclosures cited lower advertising and consumer-promotion costs as a margin offset.

Reported result

Revenue grew 34.2% from 2021 to 2025, but FY2025 volume/mix fell 3.7%. Under cocoa pressure, the spend lever moved to protect margin—not to fund the retail-media narrative.

Sources: Brave Commerce episode audio; Mondelēz FY2025 filing.

“Some people… say [retail media] should be a percent of all the sales that we do with you… then it’s not about performance anymore. It’s just about a figure, a dollar figure that goes in.”

Charlie Chappell, VP Media, Hershey · Brave Commerce, July 2022 · machine transcript. Episode audio

What the data can and cannot prove: the direction is clear—retailer advertising businesses grew 22%–27% in FY2025 while major brand budgets rose over a longer four-year period. But “advertising,” “advertising and promotion,” and “brand and marketing investment” are different reporting baskets, and trade promotion often sits in revenue deductions. There is no clean audited cross-company series for the exact share captured by retailers.

How this was tested

The revenue dataset supplied the results. Leadership claims came from earnings-call transcripts, official appearances, Brave Commerce, CPG Guys and other public interviews. Each statement was then checked against filings, launches, M&A, advertising, capex and margin disclosures. The scorecard is an anchor-weighted sample, not a census of all 100 companies.

Transcript standard: earnings-call wording labeled verified was checked verbatim; podcast and video captions are labeled machine- or caption-derived because they can contain transcription errors. Private companies disclose less. Missing evidence is shown as unknown rather than filled in.

Snapshot date: September 14, 2026. This is a fixed research snapshot and does not update automatically.

Evidence register

Methodology

How the ranking was assembled, normalized and checked.

Snapshot: September 2026. The ranking covers fiscal years ending within calendar 2025, with FY2024 fallback where FY2025 remained unpublished. Missing data stays missing; it is never interpolated.

Scope

Included: packaged food and beverage, snacks, dairy, household products, personal care and beauty, baby care, pet care, tobacco, standalone consumer-health companies, brewers and distillers. Excluded: retailers, restaurants and foodservice, pharma outside consumer health, durable goods, apparel, agribusiness processors and B2B-only suppliers.

One row represents one ultimate parent. Listed subsidiaries are consolidated under their parent where applicable.

Sources

US-listed revenue histories were assembled primarily from SEC EDGAR companyfacts and company 10-Ks. Non-US figures use company annual reports and investor-relations releases, with Macrotrends, CompaniesMarketCap, Tickergate, WallStreetZen and Barchart used as secondary checks or gap-fillers where documented in each company’s notes.

SEC EDGAR filings Macrotrends revenue histories Barchart annual income statements Tickergate revenue histories WallStreetZen revenue histories

Currency conversion

Non-USD revenue is converted using annual-average foreign-exchange rates: the arithmetic mean of daily ECB euro reference rates via Frankfurter, expressed as USD per unit of local currency. SAR and HKD use official pegs; TWD for 2021–2025 uses Taiwan central-bank annual averages.

Fiscal-year conventions

December year-ends map to the same calendar year. Other fiscal years are labeled by the calendar year in which they end. That puts Japanese March year-ends, General Mills’ May year-end, and Diageo and Pernod Ricard’s June year-ends in their ending calendar year.

Asahi FY2025 was unpublished after a September 2025 cyberattack; FY2024 is its latest value.
Flowers Foods ended its next fiscal year on January 3, 2026, so its 2025 value is null under this convention. B&G Foods is discussed in the source methodology but does not appear in the supplied top-100 rows.
Imperial Brands uses net tobacco revenue, excluding duties.
Heineken uses IFRS revenue including excise consistently.

Coverage and caveats

FY2025 coverage: 98 of 100 companies.
Complete 2015–2025 series: 72 of 100.
Segments are available for 23 of the top 25. JBS and Mars do not publish exact segment tables.
Private-company figures for Mars, Ferrero, Red Bull and Suntory are estimates and are labeled.
Unilever is comparable on an ex-Ice-Cream basis: 2023–2024 use its official post-demerger restatement, 2019–2022 subtract reported Ice Cream segment turnover, and 2015–2018 estimate Ice Cream at 13% of group turnover because it was then disclosed only inside Refreshment. Those four years are visibly labeled estimates.
Kellanova is excluded after its December 2025 acquisition by Mars. The Magnum Ice Cream Company appears separately following its December 2025 demerger from Unilever.
The cutoff is approximately $4.0 billion. Brown-Forman at $3,975 million is the nearest miss.

Last updated September 2026 · Revenue figures are USD millions.

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