In a new report, a leading global food research firm says Heinz and Kraft are on a collision course for the title of “best BBQ sauce.”
The study, by food research and consultancy company Pivotal, examined the market value of food and beverages in 196 countries and examined the share of global food and beverage revenues between 2007 and 2015.
In the US, Heinz had a market value worth $2.8 trillion, while Kraft was worth $1.9 trillion.
The study’s co-author, Peter Smith, a food and marketing consultant, said that Heinz is now the world’s largest brand, with a market capitalisation of $8.5 trillion, compared to $2 trillion for Kraft.
However, Smith added, the two brands are “not necessarily on a level playing field”.
“The US has more than 1.2 billion people, and the US is still relatively small compared to the world, so we’re not seeing the same level of competition there,” he told Quartz.
“In the UK, we’re seeing the likes of McDonalds and Starbucks being able to do quite well.
So the US market is much larger, so it’s still competitive, but it’s a lot smaller than in the UK.”
The report found that Heinus’ US market share had declined from 57.7% to 50.5% between 2007-2015.
Kraft’s share had dropped from 42.5%, to 35.4%.
According to the report, the US accounted for more than 90% of the worlds total market in 2011, with Japan accounting for more that half.
Kraft’s US market was worth more than $5.6 trillion in 2015, while Heinz US market had reached $3.6tn.
The report, which was commissioned by Heinz, said it would take three years to determine the world leaders in food and drink sales.
“If you want to see the future of the food and wine industry, look at the big players like Kraft, McDonalds, Starbucks, and Apple,” said Smith.
“They are going to be at the forefront of this industry for a very long time to come.”
There are many companies like Heinz that are taking risks and trying to do some really exciting things in the food industry.
“The US was not the only country to see Heinz move ahead.
Heinz UK’s US and European sales are estimated to be worth $7.2bn each.