Tequila is demonstrating ongoing momentum with brands growing faster than any other spirits, new research shows.

José Cuervo, Don Julio and Patrón are three leading names that show tequila’s continued momentum even as the wider spirits sector faces softer demand, trade pressure and a more cautious premium consumption environment. 

These findings form part of the latest Alcoholic Drinks 2026 report by Brand Finance, a leading brand valuation consultancy, which revealed that the total brand value of the world’s top 50 spirits brands stands at £122billion (USD161 billion) in 2026.

The ranking shows a sector moving in two directions at once: Chinese baijiu brands continue to dominate by value, while tequila and ready-to-drink formats provide some of the strongest growth stories.

At the same time, Cognac, Scotch and Gin brands with exposure to slower mature markets and trade disruption are among the biggest fallers. 

Moutai retains its position as the world’s most valuable spirits brand, with its brand value up 2% to USD59.6 billion, maintaining a commanding lead ahead of Wuliangye at USD27.3 billion.

Chinese baijiu brands continue to define the top end of the ranking, but the category’s performance is increasingly divided. Xinghuacun Fen Wine rises to third place, with its brand value up 6% to USD6.2 billion, overtaking Luzhou Laojiao, which falls 16% to USD5.3 billion. 

Tequila is the clearest growth story in this year’s Spirits 50 ranking. José Cuervo is the fastest-growing spirits brand overall, with its brand value rising 61% to USD1.6 billion, climbing 12 places to rank 17^th. Don Julio rises 57% to USD2.5 billion, while Patrón grows 36% to USD2.4 billion.

Don Julio and Patrón are now more valuable than every Scotch brand in the ranking except Johnnie Walker, reflecting tequila’s success in moving beyond party-led occasions into premium sipping, celebration and lifestyle-led consumption. 

This momentum is notable because it comes despite a tougher US spirits market. The Distilled Spirits Council of the United States reported that US spirits supplier sales fell over 2% to USD36.4 billion in 2025, while spirits-based ready-to-drink cocktails remained a bright spot with over 16% sales growth. This underlines the importance of brands that can combine pricing power, loyalty, and relevance in new drinking occasions. 

Cognac brands have faced significant pressure from trade disruption and weaker demand for premium spirits. Hennessy falls 29% to USD3.8 billion, while Rémy Martin declines 4% to USD806 million.

Martell is the only cognac brand in the ranking to grow, rising 7% to USD925 million. The wider cognac category has faced pressure in its two most important markets, the US and China, where tariffs, inventory normalisation and softer high-end consumption have weighed on exports and brand performance. 

The report also shows that Scotch also faces a difficult backdrop. Chivas Regal is down 32% to USD900 million, and Johnnie Walker declines 10% to USD2.8 billion, while Glenfiddich is the exception, growing 13% to USD493 million. Scotch Whisky Association data shows the impact of US tariffs on Scotch exports in 2025, adding further pressure to a category already navigating softer consumer demand and higher operating costs.

English whisky’s new protected status reinforces how provenance, craft, and regional authenticity are becoming more important in whisky, even as the highest-value brands remain led by established global names. 

Crown Royal is the strongest spirits brand globally in 2026, achieving a Brand Strength Index (BSI) score of 96/100 and an AAA+ brand strength rating. Its brand value is up 12% to USD2.7 billion, taking it to ninth place overall.

The Canadian whisky brand performs strongly on credibility and price acceptance in Brand Finance market research, while its ready-to-drink cocktails help extend the brand into casual, convenient and single-serve occasions.

Commenting on the research Henry Farr, the global sector head for alcoholic drinks at Brand Finance, said tariffs and softer demand have exposed spirits brands that depend heavily on one or two export markets.

He added: “Cognac relies strongly on the US and China, and those are exactly the markets where trade disruption and weaker premium consumption have hit.

“At the same time, the leading tequila brands have continued to build pricing power and loyalty, with Don Julio and Patrón now outranking almost every Scotch brand by value.

“In China, baijiu is increasingly split between dominant heritage brands holding their value and a wider group losing ground.”