Corona defies unfortunate name association and is crowned World’s Most Valuable Beer Brand.
World’s top beer brands lose 16% of total brand value
The total value of the world’s top 50 most valuable beer brands has declined by 16%, from US$94.9 billion in 2020 to US$80.2 billion in 2021. Most brands in the Brand Finance Beers 50 2021 ranking have been negotiating the effects of social distancing measures brought about by the widespread global lockdowns over the last year, which severely diminished demand for beers and wider alcoholic drinks.
“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. Brands with a strong existing reputation and good levels of familiarity amongst consumers are those most primed to weather the storm,” said Richard Haigh, Managing Director, Brand Finance.
Belgian beer brand, Michelob, bucks industry trends as the fastest growing brand, climbing 13 spots in the ranking following an impressive 39% brand value growth to US$1.2 billion. Over the last year, the brand has cemented its position as an innovative presence within the sector through its digital-based “Ultra Beer Run” campaign – an initiative that offers free beer as a reward for exercising.
Australian brand, XXXX (brand value US$743 million), and Spain’s Estrella Damm (brand value US$1.0 billion) are the second and third fastest growing brands, up 37% and 31% respectively.
Corona remains most valuable
Corona has retained the title of the world’s most valuable beer brand, despite recording a 28% drop in brand value to US$5.8 billion. As the bestselling imported drink in the United States, with an additional presence in over 120 countries, the Mexican brand has also recently become one of the fastest growing grocery products in the United Kingdom.
Over the last year, the brand has been met with some hesitancy, particularly in the United States, as Americans are hesitant to purchase its products due to its similarity in name to coronaviruses. It is this area of public opinion that could be behind the beer’s slight dip in brand value this year, although it remains exemplary of the resilience of a strong and reputable global brand, recently announcing an initiative to help the restaurant industry recover from the effects of the pandemic.
Victoria is strongest beer brand
In addition to measuring overall brand value, Brand Finance also determines the relative strength of brands through a balanced scorecard of metrics evaluating marketing investment, stakeholder equity, and business performance. Victoria (down 13% to US$4.0 billion) has jumped ten spots in the brand strength ranking to become the world’s strongest beer brand, with a Brand Strength Index (BSI) score of 87.8 out of 100 and a corresponding AAA brand strength rating.
As one of the oldest beers produced in Mexico, Victoria has become a firm favourite in its home country, where it is the most traditional out of Grupo Modelo’s brand portfolio. Owned by AB InBev, the Mexican beer brand has undoubtedly benefited from parent company’s positive reputation and the strength of its wider brand portfolio.