Brand valuation consultancy, Brand Finance, has published its 2023 Alcoholic Drinks Report, which details the world’s most valuable and fastest-growing drinks brands.
Beer
Heineken overtook Corona Extra to claim title of world’s most valuable beer brand, valued at US$7.6 billion. While Asahi earned the world’s strongest beer brand title, with a AAA+ rating and the highest Sustainability Perceptions Score with at 5.65 out of 10. Heineken ranked second in terms of brand strength.
Zhujiang (brand value up 44% to US$680 million) was named beer’s fasted-growing brand, followed by Tsingtao (up 39% to US$2.1 billion).
“It seems like beer drinkers are not necessarily drinking more, but instead, are drinking better,” says Henry Farr, Associate Director, Brand Finance.
“Visits to bars and restaurants are becoming less regular and less spontaneous, meaning many consumers are looking to trade-up on their beer of choice, prioritising taste and quality over price.
“Beer brands that are delivering on high quality premium lagers seem to be doing well.”
Spirits
In the spirits category, 1800 and Casamigos tequila were named the fastest-growing spirit brands, more than doubling in value, and baiju brand Moutai retained its title as most valuable spirit brand, valued at US$49.7 billion.
Hailed as China’s national liquor, Moutai’s deep heritage and association with Chinese tradition has led to its market dominance. It was also named the world’s strongest spirits brand with a Brand Strength Index (BSI) score of 90.8 out of 100 and a corresponding brand rating of AAA+.
Brand Finance says following COVID-19, China’s baijiu brands have experienced increased competition as production rates have reduced significantly.
Although baijiu remains China’s dominant spirit, brands must consider consumer perceptions and maintain brand equity and as a result, market share.
Wine
Moët & Chandon has maintained its title as most valuable Wine & Champagne brand for the third consecutive year, valued at US$1.3 billion.
Chinese brand Changyu was named the world’s strongest Wine & Champagne brand (up 33% to brand value US$1.2 billion), rated AAA-, and Penfolds is the fastest-growing Wine & Champagne brand, up 48%.
Changyu – little known amongst western wine connoisseurs – will be a shock challenger at the top of the wine brand rankings. However, the massive and growing size of the Chinese wine market means that the brand is extremely valuable.
The China-based brand boasts three consecutive years of brand strength growth.
“Within the Wine & Champagnes sector, Wines have performed better in terms of brand value growth,” says Farr.
“High-end Champagnes have taken a hit. Difficult growing conditions, reduced availability and price hikes have steered some consumers towards lower-end sparkling wines as an alternative.
“For those less effected by harsher financial situations, this could be due to not wanting to appear vulgar or ostentatious by indulging in luxury products when others are struggling with the rising costs of living.”
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