> **来源：[研报客](https://pc.yanbaoke.cn)** # Summary of "Restaurants 25 2026" ## Core Content This document presents the **2026 Annual Report on the Most Valuable and Strongest Restaurant Brands**, published by **Brand Finance**. It provides an overview of the global restaurant sector, highlights key brand performance metrics, and outlines the methodology used to assess brand value and strength. ## Main Points - **Global Restaurant Sector Growth**: The global restaurant sector showed resilience in 2026, with the top 25 brands collectively valued at **$190.1 billion**. Despite cost pressures and shifting consumer behaviors, brand value continued to grow. - **Top 10 Most Valuable Restaurant Brands**: - **McDonald's** led with a brand value of **$42.6 billion**, up **5%** from 2025. - **Starbucks** ranked second with **$37 billion**, but saw a **4% decline**. - **KFC** maintained third place with **$16.5 billion**, up **8%**. - **Subway** increased its brand value by **18%** to **$9.5 billion**. - **Chick-fil-A** was the **fastest-growing brand**, with a **44% increase** to **$8.1 billion**. - **Tim Hortons**, **Domino's Pizza**, and **Pizza Hut** also saw notable growth. - **Taco Bell** and **Wendy's** experienced stagnant or declining brand values. - **Brand Strength Index (BSI)**: - **Haidilao** retained the title of the **strongest restaurant brand**, with a **BSI score of 89.5/100** and an **AAA rating**. - **Greggs** ranked second with a **BSI score of 88.2/100**. - **McDonald's** and **KFC** also ranked highly for brand strength, though their BSI scores declined slightly. - **Jolibee** and **Luckin Coffee** showed significant improvements in brand strength. - **Brands to Watch**: - **Luckin Coffee** and **Mixue** are highlighted for their **value-led models** and **rapid expansion**. - Luckin Coffee’s brand value increased by **40%** to **$2.4 billion**, while Mixue entered the ranking with a brand value of **$4.6 billion**. - Mixue's **low closure rate** and **standardized franchise model** are key drivers of its success. - **Sustainability**: - Sustainability is a **key driver of consumer choice** and brand reputation. - Brands like **Chili's** and **Mixue** are seen as leaders in **sustainability perceptions**. - The **2026 Sustainability Perceptions Index** is set to be released in February, focusing on global sustainability commitments. ## Key Insights - **Growth Drivers**: The growth of restaurant brands is influenced by **digital transformation**, **franchise expansion**, and **operational efficiency**. Hybrid dining models and contactless payments are now essential. - **Consumer Behavior**: The shift toward **takeout, delivery, and quick-service formats** has embedded restaurants into daily routines. However, **price sensitivity** and **economic uncertainty** are creating challenges for some brands. - **Brand Value Methodology**: - Brand value is calculated using the **Royalty Relief** method, which is based on **royalty agreements** and **forecasted revenues**. - The **Brand Strength Index (BSI)** measures brand perceptions and customer behaviors, influencing the **royalty rate** applied to forecast revenues. - **Challenges**: - Some brands, like **Starbucks** and **Greggs**, faced **declines in brand strength** due to **price sensitivity** and **market competition**. - **Chick-fil-A** saw a **decline in likeability** after changing its chicken sourcing, highlighting the **sensitivity of consumer perceptions**. - **Future Outlook**: - **Sustainability** is becoming increasingly important, with brands that demonstrate **ethical sourcing**, **waste reduction**, and **transparency** gaining consumer trust. - The **fastest-growing brands** are those that **adapt quickly** to market conditions and **maintain customer loyalty**. ## Conclusion The 2026 report underscores the **importance of brand strength and sustainability** in the restaurant sector. While **fast-food brands** dominate the rankings, the **rise of value-led models** in China and the **global shift toward digital and hybrid formats** are reshaping the competitive landscape. Brand Finance emphasizes the need for **transparent and accurate brand valuation** to bridge the gap between marketing and finance, enabling better strategic decision-making.