Top 10 Fastest Growing Food and Beverage Companies in 2024

Top 10 Fastest Growing Food and Beverage Companies in 2024

Logos courtesy of So Good So You, SOTO Sake, Marfrig Global Foods, Ocean’s Halo, Avatar Natural Foods, Smith Teamaker, The Andersons, Mas Organización, Jeni’s Ice Creams and Zolli Candy.

Each year, the Financial Times unveils its much-anticipated list of The Americas’ Fastest-Growing Companies. The list provides a snapshot of the dynamic shifts and growth trajectories across various sectors. Among these are the fastest growing food and beverage companies, featuring a diverse array of brands making significant strides in innovation, sustainability and market expansion. 

This prestigious list showcases 500 companies across the Americas, all of which have shown exceptional growth in their publicly disclosed revenues from 2019 to 2022. This initiative bases its rankings on the compound annual growth rate (CAGR) of each company’s revenue, making it a significant and respected measure for assessing the swift rise and success of businesses in the Americas.

With the Financial Times’ ranking covering a wide range of industries, we’ll zero in on the food and beverage companies that have earned a spot on the list. Let’s delve into the top ten fastest growing food and beverage companies in 2024.

Related: Top 5 Fastest Growing Food Companies in 2023

1. So Good So You (Rank 118)

Founded in 2014, So Good So You offers a variety of probiotic juice shots aimed at supporting immune health and digestive functions. Its commitment to using organic, non-GMO ingredients has resonated with health-conscious consumers, propelling them to the forefront of the fastest growing food and beverage companies list. The company’s innovative products, coupled with eco-friendly packaging, underline its rise in the industry.

So Good So You’s annual revenue is estimated at around $32.7 million, growing at a CAGR of 71.18 percent.

2. SOTO Sake (Rank 208)

SOTO Sake was founded in 2014 on the principles of tradition and modernity. The company crafts premium sake that appeals to both connoisseurs and new enthusiasts alike. SOTO Sake’s meticulous brewing process, combined with sleek branding and marketing strategies, has catapulted it onto the list. SOTO Sake’s success is a testament to the growing global appetite for artisanal and authentic experiences.

SOTO Sake’s annual revenue is approximately $96 million, growing at a CAGR of 45.02 percent.

3. Marfrig Global Foods (Rank 229)

The Brazilian meatpacking giant Marfrig Global Foods has made its mark by focusing on sustainability and the ethical sourcing of meat. Founded in 1986, its aggressive expansion and investments in plant-based alternatives highlight its adaptability and foresight. These attributes have helped Marfrig secure its spot among the fastest growing food and beverage companies. 

According to Forbes, Marfrig’s annual revenue in 2023 was $25.3 billion, growing at a CAGR of 40.86 percent.

4. Ocean’s Halo (Rank 232)

With a mission to make seaweed a staple in Western diets, Ocean’s Halo offers a range of seaweed-based snacks, broths and sauces. The company’s innovative use of seaweed not only taps into the trend of sustainable food sources but also caters to the rising demand for healthy snack options. Since 2013, Ocean’s Halo’s growth has been driven by its ability to introduce novel products that are both delicious and nutritious.

Ocean’s Halo’s annual revenue is estimated to be less than $5 million, growing at a CAGR of 40.03 percent.

5. Avatar Natural Foods (Rank 275)

Specializing in organic and natural foods, Avatar Natural Foods has quickly become a favorite among consumers seeking healthier lifestyle options. Founded in 2007, its range of products, from organic grains to plant-based proteins, addresses the growing demand for clean eating. Avatar’s commitment to quality and sustainability is a key factor for its appearance on the list of the fastest growing food and beverage companies in 2024. 

Avatar Natural Foods’ revenue is estimated to be around $4 million per year, growing at a CAGR of 33.90 percent.

6. Smith Teamaker (Rank 313)

Smith Teamaker blends artistry with craftsmanship, offering high-quality, handcrafted teas that showcase unique flavors and blends since 2009. Its dedication to sourcing the finest ingredients and innovative approach to blending have made them a standout among tea enthusiasts. Smith Teamaker’s growth reflects the increasing consumer interest in premium, artisanal tea experiences.

Smith Teamaker’s estimated annual revenue is currently $8.6 million, growing at a CAGR of 29.95 percent.

7. The Andersons (Rank 322)

Founded in 1947, The Andersons is a diversified company with a strong foothold in the food industry. The company has seen remarkable growth due to its strategic investments in food processing and agricultural services. Its ability to innovate and adapt to market trends has made it a key player in the food and beverage industry. The Andersons’ success is a clear indicator of its commitment to quality and efficiency.

As of December 2023, The Andersons’ estimated annual revenue was $14.75 billion, growing at a CAGR of 29.36 percent. 

8. Mas Organización (Rank 334)

Colombia’s Mas Organización has carved out a niche for itself by focusing on organic and fair-trade certified products. Its dedication to ethical sourcing and environmental sustainability since 1975 has garnered a loyal customer base and distinguished them among the fastest growing food and beverage companies. Mas Organización’s growth is fueled by the increasing consumer demand for products that are good for both people and the planet.

Mas Organización’s annual revenue is estimated at around $3 million, growing at a CAGR of 28.46 percent.

9. Jeni’s Ice Creams (Rank 350)

Founded in 2002, Jeni’s Ice Creams brings creativity and innovation to the forefront. With its unique ice cream flavors and commitment to using whole ingredients, Jeni’s Ice Creams’ focus on quality and community engagement has resonated with consumers. Jeni’s Ice Creams exemplifies how passion and authenticity can drive success in the food and beverage industry.

Jeni’s Ice Creams’ estimated annual revenue is currently $35 million, growing at a CAGR of 27.35 percent.

10. Zolli Candy (Rank 472)

Zolli Candy is revolutionizing the confectionery market with its sugar-free candies that are actually good for your teeth. Founded by a young entrepreneur in 2014, the brand’s focus on health, innovation and social responsibility has made it a hit among both kids and parents. Zolli Candy’s growth showcases the potential for success when companies innovate to meet specific health-conscious market niches.

In 2018, the company earned $6 million in annual revenue, growing at a CAGR of 16.65 percent.

The fastest growing food and beverage companies in 2024 on the Financial Times’ list are not just riding the wave of food industry trends. They are creating ripples of change with their innovative products, sustainable practices and consumer-focused strategies. 

From traditional brewing methods to groundbreaking health-conscious candies, these companies are reshaping the food and beverage landscape. Their stories of growth and success serve as an inspiration for the entire industry, highlighting the limitless possibilities when creativity, sustainability and quality converge.

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