Corona Extra reclaims the title of the world’s most valuable beer brand following a 40% brand value increase
The iconic Mexican beer brand Corona Extra has reclaimed its position as the world's most valuable beer brand, surpassing Heineken (up 18% to USD 9.0 billion), with an impressive 40% brand value increase to USD 10.4 billion. This remarkable growth solidifies its position as the most valuable brand in the Brand Finance Beers 50 2024 ranking and makes it the fastest-growing beer brand globally.
In addition to calculating 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. Compliant with ISO 20671, Brand Finance’s assessment of stakeholder equity incorporates original market research data from over 150,000 respondents in 41 countries and across 31 sectors.
Following a 3.9-point increase in its Brand Strength Index (BSI) score to 85.9 out of 100, Corona has also recorded a noteworthy uptick in brand strength, securing the position as the third strongest beer brand globally. According to research conducted by Brand Finance, consideration, familiarity, overall reputation, and usage metrics have shown an uptick globally year-on-year.
Corona's strategic initiatives have bolstered its brand recognition and reputation beyond its consumer appeal. Earlier this year, the announcement of Corona Cero as the official sponsor of the Paris 2024 Olympics marked a historic moment, as it became the first beer brand to sponsor the event.
Henry Farr, Associate Director, Brand Finance, commented:
“Corona has once again reclaimed the title of the world’s most valuable beer brand, a position it previously held for four consecutive years between 2019-2022. This reaffirms the brand's leadership and mirrors evolving consumer preferences for premium and quality offerings. It also offers insights into the broader landscape of the beer industry, where brands committed to quality and innovation are redefining market standards.”
Four additional Mexican beer brands feature in the ranking: Modelo Especial (brand value up 24% to USD 5.2 billion), Tecate (brand value up 26% to USD 2.0 billion), Victoria (brand value up 22% to USD 1.5 billion), and Dos Equis XX (up 16% to USD 841 million). Mexico is the second most represented country in the whole ranking, behind the US, where nine brands are featured in total.
Tsingtao brews success as the world's strongest beer brand
China’s Tsingtao (brand value up 21% to USD 2.6 billion) is the world's strongest beer brand, with a BSI score of 87.0 out of 100. Tsingtao maintains a robust presence at home and abroad, with its products now available in over 100 countries worldwide. Through strategic partnerships with distribution channels, Tsingtao continues to fortify its position in key markets, ensuring its widespread accessibility and market growth. Recently, the brand unveiled a new non-alcoholic alternative, showcasing its dedication to adapting to changing consumer preferences.
Tsingtao is not alone in its pursuit of international markets. For years, Asian beer brands have been expanding into Western territories. Notably, Japan's Asahi Group Holdings and Kirin (brand value down 1% to USD 3.1 billion), have made significant inroads into Western markets through strategic acquisitions and partnerships, demonstrating a longstanding trend of globalisation in the beer industry.