Coca-Cola has retained its title as the world’s most valuable and strongest non-alcoholic drinks brand, valued at USD33.5 billion according to a new report from brand valuation consultancy, Brand Finance.
Even though it was down 5% from last year, “Coca-Cola’s enduring brand value can be largely attributed to its global familiarity and reputation, bolstered by innovative product developments, large-scale marketing campaigns, and digital engagement,” Brand Finances said in a statement.
The 10 Most Valuable Non-Alcoholic Drink Brands of 2023
- Red Bull
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- Nongfu Spring
Ahead of the FIFA World Cup in 2022, the brand launched its ‘Believing in Magic’ campaign, aiming to celebrate the shared passion and connection experienced by football fans and foster deeper consumer relationships. The brand also launched its digital engagement platform, the Coca-Cola Fan Zone. Approximately 5 million fans connected with the hub that was activated in 41 markets, further boosting the brand’s international exposure and prestige.
“With a rich history, iconic brand story, and a steadfast dedication to customer experience and satisfaction, Coca-Cola has remained a global leader,” said Savio D’Souza, Valuation Director at Brand Finance.
“The brand continues to boost its international reputation and capture the loyalty of generations across the globe through ingenious and powerful marketing campaigns, product evolutions and innovative digital strategies.”
In addition to calculating brand value, Brand Finance also determines the relative strength of brands through a scorecard of metrics evaluating marketing investment, stakeholder equity, and business performance. According to Brand Finance Coca-Cola also maintains its position as the world’s strongest non-alcoholic drinks brand, with an AAA+ rating and a Brand Strength Index (BSI) score of 89.6/100.
The beverage giant continues to enjoy immense global recognition and popularity. Its iconic brand narrative, logo, and memorable marketing campaigns, aimed at connecting with consumers on an emotional level and evoking nostalgic sentiments, have become deeply ingrained in popular culture and have fostered customer loyalty across the globe.
Energy drink brands hold onto the top 10 ranks
Red Bull (brand value up 1% to USD7 billion) Monster (brand value up 8% to USD6.8 billion) and Gatorade (brand value down 7% to USD4.9 billion) maintain their top 10 ranks this year, with Red Bull ranking as the third-most valuable non-alcoholic drinks brand said Brand Finance.
Nespresso is the fastest-growing non-alcoholic drinks brand according to the ranking. Nespresso’s (brand value up 208% to USD2.9 billion) brand value has increased enormously since the pandemic, when home coffee consumption surged as customers sought a premium experience at home. With its emphasis on quality and luxury,
“Nespresso became a popular choice. The brand has continued to boost its premium perceptions and global reputation with its innovative range of coffee machine and capsule offerings, as well as its sustainability initiatives, winning an award in 2022 for its innovation efforts in promoting fairtrade coffee,” said Brand Finance.
Coca-Cola holds the highest Sustainability Perceptions Value, valued at USD4.6 billion
As part of its analysis, Brand Finance assesses the role that specific brand attributes play in driving overall brand value. One such attribute, growing rapidly in its significance, is sustainability. Brand Finance assesses how sustainable specific brands are perceived to be, represented by a ‘Sustainability Perceptions Score’. The value that is linked to sustainability perceptions, the ‘Sustainability Perceptions Value’, is then calculated for each brand.
Coca-Cola has the highest Sustainability Perceptions Value (SPV) at USD4.6 billion. It should be noted that the brand’s position at the top of the SPV table is not an assessment of its overall sustainability performance, but rather indicates how much brand value it has tied up in sustainability perceptions.
That said, Coca-Cola promotes an ambitious sustainability agenda, aiming to make 100% of its packaging recyclable globally by 2025 and use at least 50% recycled material by 2030, said Brand Finance.
The company also aims to implement sustainable solutions throughout its value chain, aiming to reduce greenhouse gas emissions by 25% by 2030 and achieve net-zero carbon emissions by 2050.