New Brand Finance report reveals Red Horse and San Miguel Beer’s strength in global rankings
MANILA, 29 July 2025 – Philippines beer brands have emerged as some of the strongest among the top 50 beer brands ranked globally, driven by rising disposable incomes, product innovation, and a young adult demographic increasingly drawn to premium offerings, according to the Alcoholic Drinks 2025 report by Brand Finance, the world’s leading brand valuation consultancy.
Red Horse (brand value at USD1.9 billion) is the second strongest beer brand in the rankings, achieving a Brand Strength Index (BSI) score of 95.0/100 and AAA+ brand strength rating. The brand’s strength can largely be attributed to its immense appeal and high familiarity among extra-strong beer drinkers in the home market.
Red Horse continues to enhance its image through inclusive marketing campaigns that resonate with diverse audiences nationwide, most notably reviving its iconic Red Horse Muziklaban battle-of-the-bands competition after a four-year hiatus. This revival also reinforces Red Horse’s deep cultural connection with its loyal fans, further cementing its position as a symbol of bold self-expression and camaraderie.
Similarly, San Miguel Beer (brand value at USD1.7 billion) now ranks sixth in the sector for brand strength, with a BSI score of 91.4/100 and AAA+ brand strength rating. Brand Finance’s market research data shows the brand enjoys high familiarity and regular engagement with consumers in its home market, supported by a robust nationwide presence.
San Miguel Beer’s key strengths include its extensive distribution network, a diverse portfolio of flavoured beers and low-alcohol variants, and high-impact marketing through sports sponsorships and celebrity endorsements. Recently, the brand launched the Philippines’ first chocolate lager, expanding its product offerings and appealing to adventurous drinkers seeking unique and premium flavour experiences.
Meanwhile, in the Spirits 50 sub-rankings, Emperador and Ginebra San Miguel debut as new entrants this year. Emperador (brand value at USD1.4 billion) made it to 19th place and Ginebra (brand value at USD732 million) secured 39th place in the spirits rankings this year.
Alex Haigh, Managing Director Asia Pacific, Brand Finance, commented:
“The strong performance of Red Horse, San Miguel Beer, Emperador and Ginebra San Miguel highlights the resilience and growing appeal of Filipino alcohol brands. With innovative products, bold marketing, and deep cultural connections, these brands are well positioned to sustain their momentum and grow their global influence in the years ahead.”
Global Insights
Corona Extra retains its position as the world’s most valuable beer brand in 2025 for the second consecutive year, with its brand value reaching USD13.4 billion.
Jack Daniel’s continues to be the most valuable whiskey brand, with a brand value of USD4.4 billion. In the vodka category, Smirnoff ((brand value up 33% to USD2.9 billion) retains its leading position, while Mexico’s Patrón tops the tequila ranking, despite a 2% dip in brand value to USD1.8 billion.
Moët & Chandon remains the most valuable champagne and wine brand – a position it has held since Brand Finance introduced the Champagne & Wine 10 sub-ranking in 2020.
Brand Finance is the world’s leading brand valuation consultancy. Bridging the gap between marketing and finance, Brand Finance evaluates the strength of brands and quantifies their financial value to help organisations make strategic decisions.
Headquartered in London, Brand Finance operates in over 25 countries. Every year, Brand Finance conducts more than 6,000 brand valuations, supported by original market research, and publishes over 100 reports which rank brands across all sectors and countries.
Brand Finance also operates the Global Brand Equity Monitor, conducting original market research annually on 6,000 brands, surveying more than 175,000 respondents across 41 countries and 31 industry sectors. By combining perceptual data from the Global Brand Equity Monitor with data from its valuation database — the largest brand value database in the world — Brand Finance equips ambitious brand leaders with the data, analytics, and the strategic guidance they need to enhance brand and business value.
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 is a regulated accountancy firm and a committed leader in the standardisation of the brand valuation industry. Brand Finance was the first to be certified by independent auditors as compliant with both ISO 10668 and ISO 20671 and has received the official endorsement of the Marketing Accountability Standards Board (MASB) in the United States.
Brand is defined as a marketing-related intangible asset including, but not limited to, names, terms, signs, symbols, logos, and designs, intended to identify goods, services, or entities, creating distinctive images and associations in the minds of stakeholders, thereby generating economic benefits.
Brand strength is the efficacy of a brand’s performance on intangible measures relative to its competitors. Brand Finance evaluates brand strength in a process compliant with ISO 20671, looking at Marketing Investment, Stakeholder Equity, and the impact of those on Business Performance. The data used is derived from Brand Finance’s proprietary market research programme and from publicly available sources.
Each brand is assigned a Brand Strength Index (BSI) score out of 100, which feeds into the brand value calculation. Based on the score, each brand is assigned a corresponding Brand Rating up to AAA+ in a format similar to a credit rating.
Brand Finance calculates the values of brands in its rankings using the Royalty Relief approach – a brand valuation method compliant with the industry standards set in ISO 10668. It involves estimating the likely future revenues that are attributable to a brand by calculating a royalty rate that would be charged for its use, to arrive at a ‘brand value’ understood as a net economic benefit that a brand owner would achieve by licensing the brand in the open market.
The steps in this process are as follows:
1 Calculate brand strength using a balanced scorecard of metrics assessing Marketing Investment, Stakeholder Equity, and Business Performance. Brand strength is expressed as a Brand Strength Index (BSI) score on a scale of 0 to 100.
2 Determine royalty range for each industry, reflecting the importance of brand to purchasing decisions. In luxury, the maximum percentage is high, while in extractive industry, where goods are often commoditised, it is lower. This is done by reviewing comparable licensing agreements sourced from Brand Finance’s extensive database.
3 Calculate royalty rate. The BSI score is applied to the royalty range to arrive at a royalty rate. For example, if the royalty range in a sector is 0-5% and a brand has a BSI score of 80 out of 100, then an appropriate royalty rate for the use of this brand in the given sector will be 4%.
4 Determine brand-specific revenues by estimating a proportion of parent company revenues attributable to a brand.
5 Determine forecast revenues using a function of historic revenues, equity analyst forecasts, and economic growth rates.
6 Apply the royalty rate to the forecast revenues to derive brand revenues.
7 Discount post-tax brand revenues to a net present value which equals the brand value.
Brand Finance has produced this study with an independent and unbiased analysis. The values derived and opinions presented in this study are based on publicly available information and certain assumptions that Brand Finance used where such data was deficient or unclear. Brand Finance accepts no responsibility and will not be liable in the event that the publicly available information relied upon is subsequently found to be inaccurate. The opinions and financial analysis expressed in the study are not to be construed as providing investment or business advice. Brand Finance does not intend the study to be relied upon for any reason and excludes all liability to any body, government, or organisation.
The data presented in this study form part of Brand Finance's proprietary database, are provided for the benefit of the media, and are not to be used in part or in full for any commercial or technical purpose without written permission from Brand Finance.
