In a recent ranking of the global top spirit brands, China’s Moutai retains the title as the most valuable label.

The list, released by business valuation consultancy firm Brand Finance, ordered the world’s largest liquor brands by company value. Each value represents the numeric economic benefit of a company’s license, according to the consultancy. Other data, such as brand strength, is released alongside the ranking in Brand Finance’s annual report.

Baiju superpowers Moutai and Wuliangye have continued to enjoy the top two spots for the past several years, with Moutai leading by a strong $14.2 billion in value. Despite its lead, the top brand experienced a slight five percent drop in value year-over-year, possibly due to a lower seasonal and generational demand for its classic brand offerings. While the spirits company focuses especially on sales during the Lunar New Year and Autumn Festival celebrations, over the past year it innovated new products such as boozy ice cream to reach younger consumers, according to Brand Finance.

Similar to last year’s rankings, Chinese spirits demonstrate a strong dominance in the worldwide market. This includes list newcomer Shanxi Xinghuacun, which joins the ranks as one of the list’s other five top-performing Chinese brands.

The rankings of the spirits brands with the highest value are listed below.

The 10 Most Valuable Spirits Brands in 2022

  1. Moutai ($42.9 billion)
  2. Wuliangye ($28.7 billion)
  3. Luzhou Laojiao ($7.3 billion)
  4. Yanghe ($6.4 billion)
  5. Hennessey ($5.2 billion)
  6. Shanxi Xinghuacun Fen Wine ($5.0 billion)
  7. Bacardi ($3.1 billion)
  8. Gujing Gong Jiu ($3.1 billion)
  9. Jack Daniel’s ($2.9 billion)
  10. Johnnie Walker ($2.6 billion)