New Brand Finance data reveals Thailand’s top 50 brands remain stable at $45 billion despite challenging economic environment
BANGKOK, 30 June 2026 – Thailand’s 50 most valuable brands remain resilient with a combined brand value of USD45 billion in 2026, amid a softer economic environment, according to the Thailand 50 2026 report by Brand Finance, the world’s leading brand valuation consultancy.
18 brands recorded double-digit brand value growth this year, highlighting the ability of Thailand’s strongest companies to create value through established market positions, and resilient business models.
PTT (brand value down 5% to USD8.7 billion) retains its position as Thailand’s most valuable brand. Despite lower oil prices, softer sales volumes and weaker petrochemical conditions, the brand continues to play a central role in Thailand’s energy infrastructure and wider economy.
AIS (brand value up 9% to USD3.2 billion) remains Thailand’s second most valuable brand, supported by subscriber growth and the successful integration of 3BB (major internet provider). The company now serves nearly 46 million mobile subscribers and has become Thailand’s largest fixed broadband provider.
Kasikornbank (brand value up 5% to USD2.6 billion) ranks third, as it serves as a key player in retail and SME lending. The bank benefited from resilient profitability, with non-interest income rising 15% in 2025 as wealth management and fee-based businesses expanded, helping offset softer lending growth and lower interest margins.MAMA (brand value up 65% to USD580 million) is the fastest-growing brand in Thailand this year. The brand benefited from strong domestic demand, international expansion and growing popularity of its premium product ranges. Its strong performance was supported by high levels of understanding, reputation and engagement among local
Alex Haigh, Managing Director Asia Pacific, Brand Finance, commented:
“Thailand’s brand landscape continues to be anchored by long-established national champions such as PTT, AIS and the country’s leading banks, which maintain strong levels of trust and market leadership despite softer economic conditions. At the same time, brands such as MAMA, Big C and SPRC highlight how growth opportunities are emerging across consumer goods, retail and key sectors of the economy. This combination of resilience and diversification positions Thailand’s leading brands well for future growth.”
SPRC (brand value up 9% to USD242 million) emerges as this year’s brand to watch in the Thailand 50 ranking. The brand’s strategic role within Thailand’s energy ecosystem has continued to strengthen, supported by its refining operations and interests in key energy infrastructure assets. Stronger brand metrics and increasing relevance within the sector have contributed to SPRC’s improved performance this year.
In the brand strength ranking, Big C (brand value up 2% to USD862 million) becomes Thailand’s strongest brand, achieving a Brand Strength Index (BSI) score of 95.8/100 and an AAA+ rating, the highest accolade for brand strength awarded by Brand Finance. The retailer continues to benefit from strong performance across familiarity, consideration, reputation and preference metrics, supported by investment in store expansion, customer experience and tourism-focused initiatives.
Kasikornbank ranks second among Thailand’s strongest brands with a BSI score of 94.2/100 and an AAA+ brand strength rating, supported by improvements in reputation, reliability and customer trust.
Placing third is Krung Thai Bank, with a BSI score of 90.4/100 and an AAA+ brand strength rating, which reflects the bank’s national reach, institutional credibility and enduring customer trust.
Among Thai brands, PTT records the highest Sustainability Perceptions Value at USD778 million. The result reflects the company’s scale, visibility and strategic importance within Thailand’s economy. PTT also records a relatively small Sustainability Gap at USD1.8 million, indicating that stakeholder perceptions are broadly aligned with the company’s sustainability performance.
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, 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.
