Tequila brands are growing faster than any other spirits brands according to Brand Finance’s Alcoholic Drinks 2026 report, with José Cuervo the world’s fastest growing spirit.

Brand Finance, the world’s leading brand valuation consultancy. said tequila was the clearest growth story in this year’s Spirits 50 ranking.

José Cuervo’s brand value rose 61% to $US1.6 billion, climbing 12 places to rank 17th. Don Julio rose 57% to $US2.5 billion, while Patrón grew 36% to $US2.4 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.

The total brand value of the world’s top 50 spirits brands stands at $US161 billion in 2026, down nearly 4% from 2025. 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.

Chinese baijiu brands continue to define the top end of the ranking. 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.

Crown Royal was 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 $US2.7 billion, taking it to ninth place overall. The Canadian whisky brand performed 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.

Brand Finance Global Sector Head for Alcoholic Drinks Henry Farr said: “Tariffs and softer demand have exposed spirits brands that depend heavily on one or two export markets. 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.”

Together, Brand Finance said these results demonstrate a widening split within global spirits: heritage-led Chinese baijiu brands continue to dominate by value, while tequila and ready-to-drink whisky innovation are driving some of the strongest growth and relevance gains.