The Food & Drink Report 2026 from Brand Finance, said that for the past two years, food and drink brands have relied heavily on price increases to navigate inflationary pressures and protect margins. However, as inflationary conditions begin to ease, the basis of competition is shifting, it said.
The latest rankings highlight a transition towards more sustainable drivers of brand value, with brands investing in product innovation, high-protein and better-for-you formats, and broader category opportunities as consumers become increasingly selective, the report said.
The report revealed that the top 50 non-alcoholic drinks brands account for a combined $170.4 billion (USD).
Coca-Cola, which has seen its brand value fall by 1% to $46.1 billion but retains its position as the most valuable non-alcoholic drinks brand.
Brand Finance said that maintaining brand leadership increasingly requires continued investment in brand strength. Coca-Cola’s brand value declined slightly this year and has been surpassed on brand strength by Chinese drinks brand Nongfu Spring, which has seen its value increase by 38% to $15.3 billion.
The Chinese bottled water and tea brand now leads the ranking ahead of last year’s champion, Coca-Cola, across measures of consumer trust and familiarity. The brand recorded a Brand Strength Index (BSI) score of 89.8/100 and a prestigious AAA+ brand strength rating.
The report revealed that Chinese brands are playing an increasingly prominent role across food and beverage categories.
Yili (brand value up 29% to $14.5 billion) retains its position as the world’s most valuable dairy brand, while Eastroc (brand value up 62% to $5 billion) is among the fastest growing non-alcoholic drinks brands in the ranking, increasing by 62% as it expands beyond energy drinks into electrolyte and functional beverages.
Within non-alcoholic drinks, Canada Dry recorded the fastest brand value growth in the ranking, increasing by 116% to $1.1 billion. This according to the report was due to it demonstrating the “continued relevance of heritage soft drink brands” when supported by effective brand management and innovation.
Juice brand Innocent, which saw its brand value increase by 60% to $.6 billion also stands out, achieving the highest brand value growth in its sub-category, “reflecting the growing importance of better-for-you positioning in shaping consumer preferences.”
Category dynamics are also reshaping value creation within non-alcoholic drinks, the research showed.
Functional Drinks now represent a combined $33.4 billion, with Red Bull (brand value up 27% to $12.3 billion) the category leader, followed closely by Monster (brand value up 4% to $9.1 billion) and Gatorade (brand value up 21% to $9 billion).
In Coffee and Tea, which has a combined worth of $19.4 billion, Nescafé (brand value up 20% to $5.6 billion) remains the most valuable brand, while Yorkshire Tea (brand value up 32% to $751 million) leads on brand strength with a BSI score of 83.1/100.
Henry Farr, Global Sector Head of Food & Drink, Brand Finance, said: “The global food and beverage sector is changing rapidly. After two years in which price increases led to revenue growth without meaningful increase in profitability, brands now need to show where long-term value will come from.”
Farr added: “Those pulling ahead are using broad, flexible portfolios to capture growth and defend market share across categories against upstart challenger brands, rather than relying only on historically strong positions. Diversification will become even more important as trends such as GLP-1 weight-loss drugs begin to reshape consumer demand. Brands that build flexibility into their portfolios now will be better placed as these shifts accelerate.”
