Brand Finance Restaurants 25 2026 report reveals weakening brand strength across leading brands
LONDON, 5 February 2026 – The world’s top 25 restaurant brands are now worth a combined USD190.1 billion, marking a new high for the sector, according to a new report from Brand Finance, the world's leading brand valuation consultancy.
In 2026, the global restaurants sector continues to grow in value, supported by store expansions and the normalisation of takeout, delivery, and quick-service dining. Since the inaugural Brand Finance Restaurants 25 report in 2015, the combined brand value of the Top 10 has increased by around 20%, even as brand strength has come under increasing pressure.
Fast-food and quick-service brands continue to dominate the ranking, with the top five remaining largely unchanged. McDonald’s (brand value up 5% to USD42.6 billion) leads the rankings for the second consecutive year, supported by its vast global footprint and steady franchise income. However, Brand Finance’s Global Brand Equity Monitor (GBEM) data shows that affordability concerns are beginning to weigh on consumer perceptions in several key markets like US and UK.
Starbucks holds on to second place, but its brand value slipped 4% to USD37 billion, as intensifying competition in key markets, particularly China, blunted gains from improving store performance. KFC rounds off the top three, recording an 8% brand value growth to USD16.5 billion, supported by strong momentum in China and the expansion of its footprint.
Alex Haigh, Managing Director Asia Pacific, Brand Finance, commented:
"The global restaurants sector is demonstrating remarkable growth, but our data shows that scale alone is no longer enough to secure long-term success. Even the strongest brands are experiencing pressure on consumer perceptions as price sensitivity rises and expectations evolve. Looking ahead, brands that can balance disciplined expansion with trust, consistency, and clear value propositions will be best positioned to thrive in an increasingly competitive, cost-conscious market."
Chick-fil-A emerged as the fastest growing brand, rising 44% to USD8.1 billion, supported by strong revenue performance and disciplined expansion across the US, which strengthened future earnings expectations.
The success of Luckin Coffee (brand value up 40% to USD2.4 billion) and Mixue (new entrant at USD4.6 billion) ranked 19th and 12th respectively, also points to a distinct Chinese growth model, where scale and affordability take precedence over premiumisation. As many Western brands grapple with declining price acceptance, these value-led brands have continued to expand rapidly by aligning closely with everyday consumption and price expectations. Their performance suggests that in highly competitive, cost-conscious markets, disciplined pricing and operational efficiency can translate into sustained brand growth.
From a brand strength perspective, Haidilao (brand value up 22% to USD4.4 billion) remains the world’s strongest restaurant brand in 2026, with a Brand Strength Index (BSI) score of 89.5/100 and an AAA brand strength rating, supported by high awareness and strong perceptions of service quality in its home market of China. However, like many leading brands in the ranking, its BSI declined year-on-year, underscoring growing pressure on brand strength across the sector.
Greggs (brand value up 11% to USD1.4 billion) ranks second strongest scoring88.2/100, driven by strong familiarity and everyday relevance in the UK, although rising price sensitivity in 2025 weighed on consumer perceptions. McDonald’s completes the top three, with a BSI score of 88.1/100, despite a year-on-year decline reflecting affordability pressures and softer engagement in key markets, particularly the US.
Together, the top three strongest brands highlight a broader trend within the sector, where the brands are finding it increasingly difficult to sustain brand strength amid rising costs and more value-conscious consumers. While the Restaurants 25 ranking highlights the sector’s impressive ability to grow and monetise at scale, Brand Finance’s findings suggest that sustaining brand strength will be increasingly critical as competition intensifies and consumer expectations evolve.
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.
