Kantar reveals world’s most valuable spirits brands
The top 20 most valuable alcohol brands in the world saw their value rise by 5% in 2024, with eight spirits making the list.
According to the Kantar BrandZ Most Valuable Global Brands 2024 report, the top 20 most valuable alcohol brands were valued at US$232.7 billion. The 5% increase for the top 20 brands also marked a return to growth for the alcohol category this year.
Moutai was the leading alcohol brand by far with a brand value of US$85.5bn. It was followed by four beer brands: Corona (valued at US$19bn), Budweiser (US$13.7bn), Heineken (US$12.8bn) and Modelo (US$11.3bn).
Diageo-owned blended Scotch whisky Johnnie Walker took the sixth spot with a brand value of US$10.5bn. Johnnie Walker was named the fifth most valuable brand in the UK last year.
Chinese baijiu Wuliangye sat in the seventh spot (valued at US$9.1bn) with Jack Daniel’s and Hennessy Cognac in the eighth and ninth spot respectively. National Cellar 1573 baijiu occupied the 10th spot with a value of US$7bn.
Brown-Forman’s Tennessee whiskey Jack Daniel’s had a value of US$7.12bn while LVMH-owned Hennessy reached US$7.1bn.
Smirnoff vodka, owned by Diageo, took the 16th spot on the list with a value of US$4.3bn.
Luzhou Laojiao baijiu was in the 19th spot with its value reaching US$3.3bn.
The only alcohol segment to grow among the top 20 was beer, with all wine and spirits brands in decline.
Baijiu bets on younger drinkers
Kantar said the most valuable Chinese alcohol brands are ultra-premium with a bottle of baijiu commanding upwards of US$200.
Moutai saw its brand value decline by 2% but Kantar said it still ‘performed ahead of expectations for its region and category – avoiding the steeper declines seen by other baijiu brands’.
The report noted that the country’s baijiu brands responded to economic headwinds by doubling down on brand-building activities. Kantar cited Moutai as an example with the brand targeting younger drinkers by moving into coffee, ice cream and chocolate.
Moutai’s collaboration with the Luckin Coffee chain sold 5.4 million cups of baijiu-infused coffee on its first day alone, Kantar said.
Han Ye, lead partner, Kantar Chinese advisory business, said: “In China, baijiu brands are trying to win over younger generations – which they have realised means building associations with new moods and occasions.”
Ye said Moutai’s collaborations with well-known coffee and milk tea brands have attracted the attention of young people, while “bringing the entry-level price down to one that’s more accessible for Gen Z”.
Meanwhile, Wuliangye’s strategic alliance with Italy’s Campari Group reflects the fact that Chinese consumers are becoming more interested in spirits, Kantar said.
Even as Cognac sales dropped in 2023, Kantar noted that LVMH has continued to invest in new experiences for its Chinese customers, including Hennessy’s first Asian retail outpost in Shanghai. The brand also collaborated with a Chinese artist on a Lunar New Year release.
Kantar also highlighted a worldwide trend towards ‘bolder flavours’ in spirits, citing Johnnie Walker’s recent umami-flavoured Blue Label whisky as an example. The report also noted that flavoured American whiskeys are having a ‘strong moment’ with Jack Daniel’s Tennessee Apple enjoying 50% sales growth.
Kantar said it was particularly important for spirits brands to demonstrate their ‘superior quality to get ahead’, finding that 21% of spirits brand equity is driven by this factor.
Aperol and Campari soar
Kantar also revealed that Campari-owned Aperol was the number-one fastest riser of the Kantar BrandZ Most Valuable Italian Brands 2024 ranking. It increased its value by 38% to US$1.37bn in 2024, compared to the previous year.
Aperol was ranked number 18 in Italy’s top 40 most valuable brands, while stablemate Campari sat in the 29th spot (up 30% to US$899m).
Italy’s most valuable alcohol brands reported a 62% rise to US$3.8bn.
Vecchio Amaro Del Capo liqueur was named among Kantar’s top 10 local jewels of 2024 in the Italian ranking.
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