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List of the Seventh Global Top 100 Liquor and Spirits Unveiled: A Slide Among International Brands

Date: 2024-09-28 10:24:03

On September 27, 2024, China National Association for Liquor and Spirits Circulation released the Research Report on the Value of the Seventh Global Top 100 Liquor and Spirits at Beijing Media Center.

The brand values of several international giants, including Smirnoff, Captain Morgan, and Hennessy, have taken a hit, signaling that the global premium liquor market is starting to feel the pinch of the economic downturn. Vodka, in particular, has seen a notable decline in brand value, while the rum and brandy markets have also encountered some turbulence. Nevertheless, it’s comforting to observe that Chinese Baijiu is still riding a wave of growth, with the significance of top liquor brands’ values being further amplified.

I. Brand Values of Top Three Vodka Brands All Declined

In 2024, the global vodka brand values experienced a significant overall decline. Among the top three, Smirnoff’s brand value decreased by RMB 15.723 billion (all brand values in this article are in RMB 100 million , the same below), Absolut’s dropped by RMB 6.746 billion, and Żubrówka’s fell by RMB 2.864 billion.

No.	Region	Variety	Brand Owner	Brand Name	Brand Value in 2023	Brand Value in 2024	Annual Growth (%)
1	England	Vodka	Diageo	Smirnoff	2150.29	1993.05	-7.31
2	France	Vodka	Pernod Ricard Group	Absolut	1026.99	958.53	-6.67
3	Poland	Vodka	Polmos Bialystok Distillery	Żubrówka	483.44	454.79	-5.93
4	America	Vodka	Global Spirits Company	Khortytsa	437.77	454.32	3.78
5	India	Vodka	United Spirits	Morosha	407.76	425.62	4.38
6	Ukraine	Vodka	Dragonfly Group	Mule	403.77	422.18	4.56
7	India	Vodka	Radico Khaitan	Magic Moments	287.12	389.21	35.56
8	India	Vodka	Bacardi	Grey Goose	302.82	350.99	15.91
9	England	Vodka	Fine Wine Reserve	Żołądkowa	309.57	327.59	5.82
10	Poland	Vodka	Sino-European International Distribution Company	Soplica	289.45	314.74	8.74

The primary reason lies in the decline of consumption in Russia, the country with the highest vodka sales. In recent years, Russia has kept increasing consumption taxes, leading to a rise in vodka prices.

However, vodka sales continue to climb among emerging countries. In 2024, the Indian vodka brand Magic Moments witnessed a surge in its brand value by 10.209 billion, with a growth rate of 35.54%. Likewise, Grey Goose, another Indian vodka brand, enjoyed a brand value boost of 4.8 billion that same year. Moreover, Soplica, a vodka brand distributed by Sino-European International Distribution Company, also experienced an increase of RMB 2.529 billion.

China and India, the two most populous nations globally, have experienced a significant rise in spirits consumption alongside the enhancement of people’s living standards. They have consistently maintained a robust growth rate in recent years. For liquor brands aiming to boost sales, profits, and brand value, the Chinese and Indian markets stand out as crucial regions that warrant close attention.

II. Whisky Brands ExperiencedMixed Performances

Among the world’s top 100 liquor brands, whisky holds the highest proportion, accounting for 17%, trailing only behind Chinese Baijiu. In 2024, whisky brands exhibited an overall upward trajectory, with the leading brands experiencing particularly swift growth.

No.	Region	Variety	Brand Owner	Brand Name	Brand Value in 2023	Brand Value in 2024	Annual Growth (%)
1	England	Whisky	Diageo	Johnnie Walker	1896.14	2223.94	17.29
2	India	Whisky	Allied Blenders & Distillers	Officer’s Choice Whisky	732.23	1898.49	159.28
3	France	Whisky	Pernod Ricard	Royal Stag	1725.8	1790.37	3.74
4	America	Whisky	Brown-Forman	Jack Daniel’s	1002.34	1293.35	29.03
5	India	Whisky	Radico Khaitan	8PM	768.09	800.21	4.18
6	France	Whisky	Pernod Ricard	Ballantine’s	573.48	664.46	15.86
7	India	Whisky	Global Spirits Company	McDowell’s No.1 Whisky	631.87	658.69	4.24
8	England	Whisky	Diageo	Crown Royal	680.01	636.34	-6.42
9	France	Whisky	Pernod Ricard	Imperial Blue	643.27	625.33	-2.79
10	France	Whisky	Pernod Ricard	Jameson	636.27	599.72	-5.74

The British whisky brand Johnnie Walker has long held the top spot in the whisky category. However, this year, the Indian whisky brand Officer’s Choice Whisky has rapidly risen to pose a strong challenge.

Officer's Choice Whisky is a young whisky brand from India, established in 1988. Leveraging the increasingly mature Indian domestic market, its precise branding aligns with Indian consumers’ aspirations for high-end products. The brand encourages consumers to make the right choices in life and awakens the “righteous” officer within them. It is this brand philosophy that has enabled Officer’s Choice to swiftly ascend as the world’s top-selling whisky brand.

Changes in the Brand Value of Top Five Whisky Giants

III. Brandy Market FacedChill

The French brandy brand Hennessy suffered a drastic drop in its brand value by RMB 13.103 billion in 2024! This decline can be primarily attributed to a slump in sales. In 2023, Hennessy sold 6.5 million cases, marking an 18% decrease from the previous year. The brand has seen a steady decline in sales over recent years, resulting in a consistent diminution of its brand value.

The surge in Remy Martin’s sales can be attributed to robust demand in the Chinese market, effective brand marketing strategies, and an uptick in consumer purchasing power. These elements have fueled the expansion of foreign liquor brands like Remy Martin in China. Conversely, in the North American market, sales have exhibited a downward trajectory owing to inflation and diminished purchasing power.

No.	Region	Variety	Brand Owner	Brand Name	Brand Value in 2023	Brand Value in 2024	Annual Growth (%)
1	France	Brandy	Remy Cointreau	Remy Martin	654.62	723.74	10.56
2	France	Brandy	LVMH	Hennessy	812.89	681.85	-16.12
3	India	Brandy	Tilaknagar Industries	Mansion House Brandy	476.39	569.62	19.57
4	Italy	Brandy	Gruppo Campari	Dreher		159.61	--

IV. Rum Giants Plunged

Among the top five rum brands, four saw a dip in their brand values, with three enduring double-digit declines. Even the famous Captain Morgan wasn’t immune, as its brand value fell by almost 5%.

The most significant decline was witnessed in the England rum brand, McDowell’s No.1 Rum, as its brand value crashed by RMB 12.548 billion in 2024. The rum industry is broadly encountering a shrinkage, with the global rum market undergoing a rapidly declining trend. During the year ending January 2024, rum sales tumbled by 10%, while sales revenue dropped by 5.3%!

No.	Region	Variety	Brand Owner	Brand Name	Brand Value in 2023	Brand Value in 2024	Annual Growth (%)
1	Cuba	Rum	Bacardi Company	Bacardí	1336.64	1380.51	3.28
2	England	Rum	Diageo	Captain Morgan	1002.07	952.11	-4.99
3	Philippine	Rum	Tanduay	Tanduay	640.14	560.78	-12.40
4	England	Rum	Diageo	McDowell’s No.1 Rum	532.08	406.60	-23.58
5	France	Rum	Pernod Ricard Group	Havana Club	313.47	280.73	-10.44

V.SouthKorean and Japanese Soju MaintainedSlight Growth

In both South Korea and Japan, soju reigns supreme in the market. Notably, Jinro from South Korea has shown strong performance on the global stage, while Japanese soju has also shone brightly. What’s truly striking is that, amidst the current global landscape, two fresh South Korean and Japanese soju companies have secured their spots on the list, and out of the seven previously listed firms, six have managed to grow. This is genuinely impressive.

Region	Variety	Brand Owner	Brand Name	Brand Value in 2023	Brand Value in 2024	Annual Growth (%)
South Korea	Local – Soju	Hite-Jinro Company	Jinro	774.4	788.3392	1.79%
Japan	RTD	Beam Suntory	Suntory Lemon		666.3911654	--
Japan	Whisky	Beam Suntory	Jim Beam	533.46	561.9982962	5.34%
Japan	Local – Soju	Sanwa Shurui	Iichiko	463.24	479.360752	3.47%
South Korea	Local – Soju	Lotte Liquor	Chum Churum	426.27	451.984368	6.03%
Japan	Whisky	Beam Suntory	Canadian Club	429.7	430.0850112	Slight growth
Japan	RTD	Beam Suntory	‐196°C Strong Zero	371.78	397.8075742	7%
Japan	RTD	Beam Suntory	Horoyoi	375.62	368.9318605	-1.7%
Japan	Whisky	Beam Suntory	Kakubin		314.761936	--

VI. Other Spirits ExhibitedVaried Performances

Impacted by the contracting global market, other spirits have similarly faltered, with the majority of brands encountering shrinkage. Even those that have managed to grow have done so only marginally. Overall, the erstwhile trend of unilateral and substantial growth has been succeeded by a varied landscape of both gains and losses. Amidst the growth hurdles confronted by global spirits companies, Chinese Baijiu has distinguished itself, spearheading the growth among top global liquors.

VII.China and India as the Growth Engines of the Market

Although the global wine industry is experiencing a slump, China and India, as the two most populous countries in the world, still exhibit strong growth momentum in their wine markets. Among them, 29 Chinese enterprises were listed in 2023 with a total brand value of RMB 3153.739 billion. By 2024, the number of listed enterprises increased to 36, with a total brand value of RMB 4043.995 billion , representing an increase of 28.22%! Although the number of listed enterprises in India decreased from 11 to 9, their total brand value increased from RMB 485.736 billion to 587.084 billion , an increase of 20.86%. Both markets experienced growth rates exceeding 20%, which may be attributed to the large populations and substantial consumer bases in these countries, where the demand for wine continues to grow rapidly and consumer enthusiasm remains high.

Values for Seventh Global Top 100 Liquor and SpiritsBrands

No.	Region	Variety	Brand Owner	Brand Name	2024 Brand Value (RMB 100 million)
1	China	Baijiu	China Kweichow Moutai (Group) Distillery Co., Ltd.	Flying Apsaras Moutai	4759.77
2	China	Baijiu	Sichuan Yibin Wuliangye Group Co., Ltd.	Ordinary Wuliangye	4147.14
3	America	Beer	Budweiser	Budweiser	2763.59
4	China	Baijiu	Jiangsu Yanghe Winery Co., Ltd.	Mengzhilan Handcrafted	2718.47
5	China	Baijiu	Gujing Group	Gujing Nianfenyuanjiang	2540.75
6	China	Baijiu	Shanxi Xinghua Village Fenjiu Group Co., Ltd.	Xinghuafenjiu	2448.12
7	England	Whisky	Diageo	Johnnie Walker	2223.94
8	England	Vodka	Diageo	Smirnoff	1993.05
9	China	Beer	China Resources Beer (China) Co., Ltd.	CR Snow	1958.19
10	India	Whisky	Allied Blenders & Distillers	Officer’s Choice Whisky	1898.49
11	China	Baijiu	Luzhou Laojiao Co., Ltd.	National Cellar 1573	1863.12
12	Denmark	Beer	Carlsberg	Carlsberg	1833.97
13	France	Whisky	Pernod Ricard	Royal Stag	1790.37
14	China	Baijiu	Shaanxi Xifeng Liquor Co., Ltd.	China Red, Red Phoenix	1747.04
15	Netherlands	Beer	Heineken	Heineken	1681.79
16	China	Baijiu	Guizhou Xijiu Investment Holding Group Co., Ltd.	Junpin Xijiu	1384.14
17	Cuba	Rum	Bacardi Company	Bacardí	1380.51
18	America	Whisky	Brown-Forman	Jack Daniel’s	1293.35
19	China	Beer	Tsingtao Beer Co., Ltd.	Tsingtao Beer	1215.07
20	China	Baijiu	Sichuan Langjiu Group Co., Ltd.	Qinghualang	1208.68
21	China	Beer	Anheuser-Busch InBev	Harbin Beer	1128.44
22	China	Baijiu	Guizhou Guotai Liquor Co., Ltd.	Guobiao Liquor	1103.90
23	China	Beer	Beijing Yanjing Beer Group Corporation	Yanjing	1078.88
24	China	Baijiu	Guizhou Jinshajiao Liquor Industry Co., Ltd.	Zhai Yao	980.03
25	China	Healthcare wine	Jinbrand Co. Ltd.	Jinjiu	972.52
26	France	Vodka	Pernod Ricard Group	Absolut	958.53
27	England	Rum	Diageo	Captain Morgan	952.11
28	China	Baijiu	Jiangsu King’s Luck Brewery Joint-Stock Co., Ltd.	Guoyuan	913.96
29	India	Whisky	Radico Khaitan	8PM	800.21
30	South Korea	Local – Soju	Hite-Jinro Company	Jinro	788.34
31	France	Brandy	Remy Cointreau	Remy Martin	723.74
32	France	Brandy	LVMH	Hennessy	681.85
33	Japan	RTD	Beam Suntory	Suntory Lemon Cocktail	666.39
34	France	Whisky	Pernod Ricard	Ballantine’s	664.46
35	India	Whisky	Global Spirits Company	McDowell’s No.1 Whisky	658.69
36	England	Whisky	Diageo	Crown Royal	636.34
37	France	Whisky	Pernod Ricard	Imperial Blue	625.33
38	America	RTD	E&J Gallo	Noon	621.85
39	France	Whisky	Pernod Ricard	Jameson	599.72
40	China	Baijiu	Henan Yangshao Liquor Co., Ltd.	Caitaofang	584.36
41	India	Brandy	Tilaknagar Industries	Mansion House Brandy	569.62
42	France	Wine	Chateau Lafite Rothschild	Lafite	568.83
43	Japan	Whisky	Beam Suntory	Jim Beam	562.00
44	France	Wine	Chateau Cheval Blanc	Chateau Cheval Blanc	561.47
45	Philippine	Rum	Tanduay	Tanduay	560.78
46	England	Bitters	Bacardi	Martini	560.25
47	China	Baijiu	Hebei Hengshui Laobaigan Liquor Co., Ltd.	1915	556.44
48	China	Baijiu	Shunxin Agriculture Co., Ltd. Niulanshan Distillery	Bainiuer	550.16
49	England	Bitters	Bacardi	Martini Vermouth	543.73
50	China	Baijiu	Anhui Kouzi Group	5-Year Kouzi Cellar	533.20
51	China	Baijiu	Shede Spirits Co., Ltd.	Shede Classic	531.66
52	China	Baijiu	Beijing Hongxing Co., Ltd.	Blue Bottle	526.32
53	America	RTD	Brown‐Forman	Jack Daniel’s Country Cocktail	524.28
54	Australia	Wine	Penfolds	Penfolds	509.05
55	England	Gin	Diageo	Tanqueray	493.61
56	America	RTD	Mark Anthony Brands	White Claw Hard Seltzer	487.90
57	Italy	Bitters	Gruppo Campari	Aperol	482.89
58	Japan	Local – Soju	Sanwa Shurui	Iichiko	479.36
59	France	Whisky	Pernod Ricard Group	Chivas Regal	469.14
60	England	Gin	Diageo	Gordon’s	468.44
61	France	Whisky	Pernod Ricard	Blenders Pride	464.90
62	Poland	Vodka	Polmos Bialystok Distillery	Żubrówka	454.79
63	America	Vodka	Global Spirits Company	Khortytsa	454.32
64	South Korea	Local – Soju	Lotte Liquor	Chum Churum	451.98
65	France	Wine	Romanee-Conti Group	Romanee-Conti	451.72
66	China	Baijiu	Shandong Guojing Group	Guo6	451.19
67	China	Baijiu	Jinbrand Co. Ltd.	Jinjiu	448.68
68	China	Baijiu	Jiugui Liquor Co., Ltd.	Neican	447.39
69	America	RTD	Brown‐Forman	New Mix	443.94
70	China	Wine	COFCO Winery Co., Ltd.	Five-Star	436.67
71	Japan	Whisky	Beam Suntory	Canadian Club	430.09
72	China	Wine	Yantai Changyu Grape Wine Co., Ltd.	Changyu Afip	429.44
73	India	Vodka	United Spirits	Morosha	425.62
74	China	Baijiu	Sichuan Shuijingfang Co., Ltd.	Jingtai	425.15
75	Mexico	Tequila	Becle	Jose Cuervo	423.94
76	Ukraine	Vodka	Dragonfly Group	Mule	422.18
77	India	Whisky	United Spirits	Royal Challenge	415.83
78	England	Rum	Diageo	McDowell’s No.1 Rum	406.60
79	England	Liqueurs	Diageo	Baileys	401.56
80	Japan	RTD	Beam Suntory	‐196°C Strong Zero	397.81
81	France	Wine	Chateau Margaux	Chateau Margaux	395.62
82	India	Vodka	Radico Khaitan	Magic Moments	389.21
83	England	Local – Soju	Diageo	Yeni	387.97
84	America	Wine	Screaming Eagle Group	Screaming Eagle	387.78
85	China	Baijiu	She Dian Lao Jiu Co., Ltd.	Yuanqinghua	372.79
86	Japan	RTD	Beam Suntory	Horoyoi	368.93
87	India	Gin	Bacardi	Bombay Sapphire	362.18
88	France	Liqueurs	Pernod Ricard	Malibu	354.86
89	China	Wine	Yantai Changyu Grape Wine Co., Ltd.	Changyu	354.56
90	India	Vodka	Bacardi	Grey Goose	350.99
91	Scotland	Whisky	William Grant & Sons	Grant	350.44
92	Germany	Bitters	Mast-Jägermeister	Jägermeister	346.51
93	China	Baijiu	China Kweichow Moutai (Group) Distillery Healthcare Liquor Co., Ltd.	Taiyuan	345.61
94	China	Baijiu	Sitir Liquor Co., Ltd.	Dongfangyun	332.57
95	China	Beer	Guangzhou Zhujiang Brewery Co., Ltd.	Pearl River	330.22
96	England	Vodka	Fine Wine Reserve	Żołądkowa	327.59
97	Poland	Vodka	Sino-European International Distribution Company	Żubrówka	314.74
98	England	Cachaca	Diageo	Ypioca	306.65
99	England	Whisky	Diageo	J&B	304.59
100	China	Wine	Gansu Mogao Industrial Development Co. , Ltd.	Mogo Pinot noir	210.15

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