Coca-Cola's Grip on Non-Alcoholic Drinks Slips as Chinese Brands Gain

Coca-Cola remains the world's most valuable non-alcoholic drinks brand, but its lead is slipping, according to Brand Finance's Food & Drink Report 2026.

The report found that leading brands are differentiating themselves through innovation, health credentials, portfolio expansion, and consumer trust as inflationary pressures ease.

Coca-Cola saw its brand value fall by 1% to $46.1 billion, while Chinese drinks brand Nongfu Spring surged ahead with a 38% increase in value to $15.3 billion.

Nongfu Spring now leads the ranking on measures of consumer trust and familiarity, with a Brand Strength Index score of 89.8/100 and an AAA+ brand strength rating.