Clinching the top spot once again is Nestlé; however, the Swiss food giant was not immune to the impacts of the Covid-19 pandemic this year. The company reported organic sales growth of 1.3% in its second quarter results after strong consumer stockpiling in March, but that was followed by weaker demand in Q3.

During the first half of 2020, Nestlé’s total reported sales stood at CHF 41.2 billion (approximately $45 billion), representing a 9.5% year-over-year decrease, with results impacted by the divestment of its Skin Health and US ice cream business last year. In June, Nestlé announced that it would explore the sale of “the majority” of its Nestlé Waters North America unit (which registered sales of CHF 3.4 billion in 2019). 

Regionally speaking, the company witnessed sustained momentum in the Americas during its first half, with organic growth of 5.3% for its largest unit, Zone Americas. Meanwhile, in North America, beverages including Starbucks at-home products, Nescafé and Coffee-Mate grew at double-digit rates, with frozen food performing at a similar level, while baking products saw “exceptional demand.”

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