FMCG's reputation in 2026
Our platform is designed to capture shifts in stakeholder perceptions as they occur, not weeks or months later. The chart below typifies this. It shows weekly shifts in the average global Trust & Like Score across the Global 12 FMCG companies worldwide since January 2026, alongside three other metrics: the companies' average share price, the net sentiment of media coverage of the sector, and the prevalence of people choosing the "increased cost of living" as an issue that will most impact society in the next twelve months.
CRISIS CAPTURED
The global Trust & Like Score (TLS) rose sharply in mid-January, amid falling inflation and FMCG companies announcing price cuts. But its reversal over the following fortnight lines up with a growing infant-formula crisis.
Nestlé, Danone, and Lactalis were forced to recall batches worldwide amid concerns of toxic contamination, while a UK infant was hospitalized and Dutch watchdog Foodwatch named seven manufacturers in a criminal complaint.
A further, albeit smaller TLS dip came in late February, as EU regulators issued formal contamination guidance and reports emerged of Nestlé having to run factories around the clock to manage the infant-formula shortfall.
MAY DAY MAYDAY
The global Trust & Like Score plunged dramatically again in May, reaching its nadir. This could be because of the rising cost of living, exacerbated by the Middle East crisis.
Another possible trigger? The $1 billion lawsuit against manufacturers of ultra-processed foods (including eight of the 12 companies in this report).
MEDIA MAELSTROM
Media sentiment, tracked by our media-intelligence partner Polecat, was only loosely linked to the global Trust & Like Score week to week. Two episodes stand out. In February, the TLS shifted first, with media sentiment following
In May, the order reversed. Media sentiment fell just before the TLS, as coverage focused on manufacturers raising prices and stakeholders began to feel the sticker shock.
MARKET JITTERS
The sector’s Trust & Like Score started falling in January. Share prices held until March, then dipped as well.
FMCG's reputation, relatively
We track perceptions of companies across multiple sectors and markets, allowing us to take (and compare) the reputational "temperature" of each.
BY THE NUMBERS
In most countries, FMCG companies are more trusted than the average.
Germany is the outlier: its FMCG TLS is four points below the index average, seemingly driven by weak scores for stakeholder perceptions of the sector’s ESG impact and Relevance.
ZOOM IN
We track stakeholder perceptions of companies across 11 brand, reputation, and ESG attributes, which can reveal distinct patterns across and within markets.
In most Western countries, FMCG appears to have a “Relevance” issue.
Stakeholders in those markets perceive FMCG brands as less “relatable”, especially in France, Germany, and the UK. “Eat local” trends, the rise in health and wellness culture, or simply a weaker connection between product brands and the businesses behind them could explain the relatively low scores for this attribute.
By contrast, China and Brazil are the only markets where Relevance scores are high. Some markets also have their own standout strengths. In China, FMCG companies are seen as particularly ethical, with Integrity their highest-scoring attribute.
In France, they score relatively well for Innovation, possibly reflecting the influence of Danone. One of the Global 12 in this report, the French group has built much of its brand around innovation, from probiotics to plant-based products.
What drives trust in FMCG
Perceptions of the 11 brand, reputation, and ESG attributes make up the patchwork quilt of corporate reputation. But not every attribute packs the same punch. A driver analysis reveals the relative impact that each attribute has on a company’s — and sector’s — Trust & Like Score.
THE BIG PICTURE
Offering (which reflects perceptions that a company has “compelling products or services”) is the strongest driver of trust in FMCG companies worldwide.
Society (perceptions that a company has a “positive impact on people”) is a close second globally and in Europe. This makes sense given how scrutinized corporate impact is, especially in FMCG.
That said, companies in this sector seem to deliver more on product expectations than societal ones, judging from their actual scores.
UP CLOSE
The US and Brazil break the pattern, in opposite directions. Brazil is brand-led, with Differentiation and Relevance topping the ranking.
In the US, stakeholders weigh Integrity (perceptions that a company "acts responsibly") and Governance (perceptions that it "does business ethically") far more heavily than anywhere else. Might this be a reaction in part to the "Make America Healthy Again" movement?
More broadly, Differentiation matters far more outside Europe, ranking in the top three in Asia, the US, and Brazil, but only eighth in Europe.
Does that reflect greater price sensitivity outside Europe, where a brand needs to stand out to justify its cost? Or a broader openness to branding, compared with Europe's greater focus on a company's impact on society?
QUAD ALMIGHTY
The driver analysis reveals the relative importance of each attribute in shaping Trust & Like Scores. But importance alone doesn't tell you where to focus.
The quadrant combines that importance score (y-axis) with how well FMCG companies currently perform on each attribute (x-axis), revealing the high-importance, low-performance attributes to fix (Threats) and the high-importance, high-performance attributes to protect and leverage (Strengths).
BY THE NUMBERS
Relative to other attributes, Environment and Governance are among the weakest drivers of Trust & Like Scores in FMCG.
Yet in most markets, Environment scores are comparatively weak. One conclusion? An FMCG company’s perceived impact on the planet may not be a stakeholder priority, but it remains a background risk — as the SWOT analysis plainly illustrates.
Smarter decisions start with stakeholder intelligence.