Carbonated soft drinks dominate the top 10, with Pepsi, Dr Pepper, and Sprite leading the way
Nongfu Spring achieves the highest brand value growth, up 102% to $8.3 billion
Coca-Cola has the highest Sustainability Perceptions Value, valued at $5.2 billion, Pepsi has the highest Positive Gap Value, valued at $212 million
Coca-Cola (brand value up 5% to USD35 billion) retains its title as the world’s most valuable non-alcoholic drinks brand, according to a new report from leading brand valuation consultancy, Brand Finance.
Coca-Cola also remains the strongest non-alcoholic drinks brand, holding the ranking’s only AAA+ brand strength rating and recording a Brand Strength Index (BSI) score increase of 0.8 points to 90.4 of 100.
The brand’s memorable marketing campaigns, such as its 2023 Christmas advertisement, “The World Needs More Santas,” have further reinforced its emotional connection with consumers.
The brand’s dynamic marketing investments during the 2023 financial year has facilitated growth and addressed various consumer needs. The brand’s strategic collaborations and innovative product launches, such as the “space-flavoured” cola and ready-to-drink canned cocktail with Jack Daniel’s, have bolstered its market position.
Savio D’Souza, Valuation Director at Brand Finance, commented, “The non-alcoholic beverage industry is experiencing unprecedented growth, driven by a confluence of factors including health consciousness, changing consumer preferences, and a desire for innovative and exciting taste experiences. As consumers continue to seek out functional beverages, sustainable practices, and unique flavour profiles, the sector is poised for an exciting era of expansion.”
Four of the top 10 most valuable non-alcoholic drink brands ranked this year are carbonated soft drinks. Apart from Coca-Cola leading, Pepsi (brand value up 10% to USD20.2 billion) is in second place while Dr Pepper (brand value up 8% to USD4.8 billion) and Sprite (brand value up 9% to USD4.5 billion) occupy the seventh and eighth positions, respectively.
The top 10 list also includes three functional drink brands, two coffee and tea brands, and one bottled water brand.
Nongfu Spring recorded the largest brand value growth by percentage of any non-alcoholic drinks brand ranked, increasing by 102% to USD8.3 billion. The brand’s expansion in the ready-to-drink (RTD) tea market, particularly with its Oriental Leaf product, has driven significant sales growth and popularity on social media platforms like Weibo.
Brand Finance also utilises its Global Brand Equity Monitor (GBEM) research to compile a Sustainability Perceptions Index. The study determines the role of sustainability in driving brand consideration across sectors and offers insight into which brands global consumers believe to be most committed to sustainability.
For individual brands, the Index displays the proportion of brand value attributable to sustainability perceptions. This Sustainability Perceptions Value is the financial value contingent on a brand’s reputation for acting sustainably.
From here, Brand Finance’s perceptual research is analysed alongside CSRHub’s environmental, social and governance performance data to determine a brand’s ‘gap value’. This is the value at risk or to be gained, based on the difference between sustainability perceptions and actual performance.
The 2024 Sustainability Perceptions Index finds that in the non-alcoholic drinks sector Coca Cola has the highest Sustainability Perceptions Value (SPV) at USD5.2 billion and Pepsi has the highest positive gap value of USD212 million among brands in the rankings.
A positive gap value means that brand sustainability performance is stronger than perceived: brands can add value through enhanced communication about their sustainability efforts, so that perceptions are raised to fully account for the brand’s actual sustainability performance.
Pepsi’s gap value suggests that it could generate an additional USD212 million in potential value through enhanced communication of its impact and accomplishments in sustainability.
