New data from Brand Finance reveals top 50 Thai brands ranked record 5% year-on-year brand value growth
BANGKOK, 24 June 2025 – Thailand’s top 50 brands ranked have grown to a combined value of USD44.6 billion in 2025, representing a 5% year-on-year growth according to the latest Thailand 50 2025 report by Brand Finance, the world’s leading brand valuation consultancy. This year’s rankings were led by brands from the nation’s oil & gas, engineering, telecoms, banking and beers sectors.
PTT (brand value up 11% to USD9.2 billion) continues to dominate the rankings as Thailand’s most valuable brand ranked for the fifth consecutive year. As a leader in the country’s energy sector, PTT outperforms its peers, driven by strategic investments in refining, petrochemicals, and infrastructure, which fuel both its business growth and the country’s overall economic development.
In addition to its top spot as the most valuable Thai brand ranked in 2025, PTT also leads in terms of sustainability efforts. According to the Sustainability Perceptions Index 2025 released recently, the brand’s Sustainability Perceptions Value stands at USD792 million, the highest among Thai brands ranked. In addition, PTT holds the highest positive gap value of USD43 million, indicating that its sustainability performance far exceeds public perceptions, presenting significant growth potential. The report quantifies the financial value of sustainability perceptions and highlights the gaps between brand reputation and actual ESG performance.
Dr. Kongkrapan Intarajang, CEO of PTT, ranks 66th in the Brand Guardian Index (BGI), celebrated for his strategic vision and leadership. He also secured the 2nd position among ASEAN CEOs, reinforcing his pivotal role in shaping Thailand’s brand narrative.
Important note: Research conducted for the BGI is as of 1st January 2025
As among the top players in the Thai banking sector, Krung Thai Bank (brand value up 38% to USD2.3 billion) climbed 11 ranks to become Thailand’s strongest brand this year with a Brand Strength Index (BSI) score of 92/100. The bank’s strong reputation and wide accessibility supports its position as the go-to bank for millions across the country.
Thailand's iconic beer brand, Chang (brand value up 63% to USD928 million), has more than doubled its brand value this year, thus emerging as the fastest-growing Thai brand ranked. This growth was driven by strong financials, an increase in sales volume, and the launch of its unpasteurised beer in a new screw-top bottle, tapping into Thailand’s rapidly expanding premium beer market.
Alex Haigh, Managing Director, Brand Finance Asia Pacific commented:
“Thailand’s top brands are not only growing in value but also expanding the country’s global influence. Between PTT leading with its sustainability efforts, Krung Thai Bank making strides in digital services, and Chang tapping into the premium beer market, these brands are embracing innovation and staying true to Thailand’s rich heritage. This growth is a clear reflection of how Thailand is harnessing its culture to create new opportunities and strengthen its position as a key player on the global stage.”
Thailand’s soft power, ranked 39th in the Brand Finance Global Soft Power Index 2025, reflects the country’s growing global influence through cultural diplomacy, digital innovation, and sustainability efforts. This growth is mirrored in sectors showing the highest year-on-year growth, such as banking and engineering - even tourism, and food which are sectors where the Thai government is concentrating efforts to enhance soft power.
As Thailand continues to invest in these areas, the following brands, representing these dynamic sectors, are noteworthy for their performance and potential in the coming years.
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.
