The value of the world’s top 50 spirits brands increased by 5% to US$135.9bn in the 2021 edition of Brand Finance’s most valuable brands report, released today. In contrast, the top 50 beer brands declined in total value by 16% to $80.2bn, while the value of the top 50 wine brands dropped 10% to $6.7bn.
The spirits increase was driven by Chinese baijiu brands, which fill the top five spots on the spirits list. Brands including Moutai (+15%), Wuliangye (+24%) and Luzhou Laojiao (+25%), which are sold almost solely in China, benefited from the country’s relatively reduced exposure to coronavirus infections.
International spirits brands fared much worse as pandemic lockdowns closed bars and restaurants in Europe and North America. Brown Forman’s Jack Daniel’s, which at sixth on the list is the highest-ranking non-baijiu, was down 17% to $3.4bn. Moet Hennessy’s Hennessy Cognac, meanwhile, declined 9% in value to $3.29bn to remain in seventh position.
Despite poor performances for some, brand declines in spirits were generally better than those in beer and wine. Anheuser-Busch InBev’s Corona dropped 28% but held on to the top spot on the beer list as other brands also declined. Heineken’s namesake lager – second on the list – saw its value drop by 19% to $5.65bn, and A-B InBev’s third-placed Budweiser was down 26% to $4.79bn. Bud Light, in fifth place, slid by 31%.
“The pandemic has undoubtedly forced change upon the world’s beer brands, which have grappled with consumers’ significant lifestyle changes brought about by the limitations on social interaction,” said Brand Finance MD Richard Haigh.
Despite recording an 11% drop in brand value to $1.2bn, Moet Hennessy’s Moet et Chandon retained the title of the world’s most valuable Champagne & wine brand for the second consecutive year. Chinese wine brand Changyu remained in second with a 13% value drop to $1.17bn.
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By GlobalDataElsewhere, A-B InBev made up for the disappointment from its Budweiser brands with a 39% growth in brand value for Michelob. The beer, which has been marketed as an alcoholic beverage for people interested in fitness, jumped 13 places to 21st on the list with a value of $1.2bn.
