2026年全球餐厅品牌25强报告-

Restaurants

252026TheannualreportonthemostvaluableandstrongestrestaurantbrandsAboutBrandFinanceBridging

thegapbetweenMarketingandFinanceBrandFinancewassetupin1996withtheaimof'bridgingthegapbetween

marketingandfinanceI.For30years,we

havehelpedcompaniesandorganisations

ofalltypestoconnect

theirbrandstothebottomline.Quantifyingthefinancial

valueofbrandsWeputthousandsoftheworld’sbiggest

brandstothe

testevery

year.Rankingbrandsacrossallsectorsandcountries,

wepublishover100reportsannually.UniquecombinationofexpertiseOurteamshaveexperienceacrossawiderangeofdisciplinesfrommarketingandmarketresearch,

tobrandstrategyandvisualidentity,

to

taxandaccounting.Pridingourselveson

technicalcredibilityBrandFinance,acharteredaccountancyfirmregulatedbytheInstituteofChartered

AccountantsinEnglandandWales,is

the

firstbrandvaluationconsultancyto

jointhe

InternationalValuationStandardsCouncil.Our

experts

crafted

standards(ISO10668

and

ISO20671)and

our

methodology,certifiedbyAustrianStandards,isofficially

approvedbytheMarketingAccountability

StandardsBoard.The

world'sleadingbrand

valuationconsultancyForbusinessenquiries,pleasecontact:enquiries@Formediaenquiries,pleasecontact:press@brandf+442073899400www.brandfinContentsForeword

3DavidHaigh,Chairman&CEO,BrandFinanceSectorOverview6ValuationAnalysis

8MostValuableRestaurantBrands20269FastestGrowingBrand:Chick-fil-A

11Brands

to

Watch:Luckin

Coffee&Mixue

12BrandStrengthAnalysis13Sustainability

Analysis

16BrandValue

Ranking

(USDm)18Methodology19OurServices27©2026Allrightsreserved.BrandFinancePlc.Brand

Finance

Restaurants252026

brandirectory.com/restaurants

3World’stop25restaurantshitrecord

$190.1billionin

brand

valuedespitepressure

onbrandstrength+

Valued

at$42.6billion,McDonald’s

leadsforsecondyearwhilethe

Top5restaurantbrandsremainlargelyunchangedanddominatedbyfast-foodbrands+

Chick-fil-A

is

the

fastest-growingrestaurant

brand,brand

value

up

over40%+

Haidilao

retains

its

strongest

brand

titlewith

a

BSI

score

of89.5/100+

LuckinCoffee,Mixueunderpintherise

ofChinese,value-ledbrandmodelsfuelledthroughrapidexpansionThisyearmarksBrandFinance’s30th

anniversary.Throughoutourhistoryasacompany,therehasbeenoneenduringtruism:brandsoperateinaworldshaped

bycontinualchange.RapidadvancementsinAI,geopoliticalfragmentation,economicuncertainty,andrisingexpectationsofcorporatebehaviourhaveallplacednewpressures

onorganisations.While

thechallengeshaveevolved,

theimportanceofbuilding

andmaintainingbrandstrengthhasremainedconstant.Lookingback

to1996,

theglobalbrandlandscapewasdominatedby

traditionalconsumernames.Since

then,

theriseof

technologyanddigitalservices,

themove

fromproducts

toecosystems,

theincreasingprominenceofB2Bbrands,and

the

growthofplacebrandinghavefundamentallyreshapedhowvalueiscreated.Today,thecommercialcontributionofastrongbrandiswellrecognised.Itdrivesdemand,supportspremiumpricing,attractsandretains

talent,increasesresilienceduringuncertainty,andprovidesconfidence

toinvestors.Despite

thisawareness,manyorganisationsstillstruggle

toquantifybrandvalueorexplainitsroleinbusiness

performance.

Thislackofclarityoftencreatesagapbetweenmarketingambitionandfinancialdecision-making,limiting

theability

toinvestfor

thelong

term.AtBrandFinance,ourmissionfor30yearshasbeen

toclose

thatgap.Bybringing

togetherrobustvaluationmethodologiesandin-depthresearch,wehelpleadersunderstand

thefinancialimpactof

theirbrandandmakebetter-informeddecisions.

Whetheryouarelookingtostrengthenbrandperformance,evaluatemarketinginvestment,supportatransaction,orbringgreateralignmentacrossyour

organisation,ourteamisheretohelp.Asyouexplore

thisyear’sfindings,Iencourageyoutoconsiderhowtheinsights

cansupportclearerdecision-makingwithinyourorganisation.Strongbrandsare

built

throughinformedchoicesandconsistentinvestment,andour

teamisready

tohelpyoutranslatethedataintopracticalnextstepsforyourstrategy.Brand

Finance

Restaurants252026

brandirectory.com/restaurants

5ForewordDavid

HaighChairman&CEO,

BrandFinance

SectorOverviewTheglobalrestaurantssectorcontinues

todemonstrateresilience,withitscollectivebrandvalue

risingin2026despitemountingcostpressuresandshiftingconsumerbehaviours.SinceBrandFinancefirst

published

theRestaurantsrankingin2015,

thesectorhasexpandedsteadily;notably,

the

top10brands’combinedvaluehasincreasedbyapproximately20%,

highlightingsustainedbrandstrengthandlong-termexpansions.Thisgrowthisunderpinnedbychangingconsumerhabits,as

takeout,delivery,andquick-serviceformats

embedrestaurantsmoredeeplyintoeverydayroutines.

Brandshavecapitalisedon

thisbydrivinggrowththroughrapidoutletrollouts.Furthermore,hybridformatscombiningdine-in,delivery,andpick-upare

becoming

theindustrystandard,helpingbrandscapturedemandwhilemanagingoperationalcosts.Parallel

to

thisphysicalexpansion,

technologyinvestmenthasemergedasacriticaldriverforgrowth.

AI-enabledforecasting,digitalorderingecosystems,andcontactlesspaymentsolutionshave

transitioned

frombeing"differentiatingfeatures"

toessentialstandards.WithintheUS,whereuptothree-quarters

ofrestaurant

trafficoccursoff-premise,convenience

isnolongeraperk,itisacorecomponentofbrandvaluecreation.Overall,whilethesector’sbrandvaluegrowthreflects

impressivescaleandmonetisationpotential,

thereis

agrowingdisconnect.AccordingtotheGlobalBrand

EquityMonitor(GBEM)data,decliningBrandStrength

Index(BSI)scoreshighlightmountingpressureonpricing,serviceconsistency,andconsumer

trust,

tensions

thatarelikely

toshapecompetitivedynamicsin

the

yearsahead.Brand

Finance

Restaurants252026

brandirectory.com/restaurants

7SectorOverviewValuationAnalysis+

MostValuableRestaurantBrands2026

+

Fastest

Growing

Brand:Chick-fil-A+

Brand

to

Watch:Luckin

Coffee&MixueThe2026Restaurantsrankingindicatesahighlevelofstabilityatthetopofthesector.Thecompositionof

thetop10remainslargelyunchangedfrom2025,withmovementwithinthe

rankingdrivenmorebydifferencesinbrandvalue

growthrates

thanbyanyfundamentalshiftincompetitiveposition.Smallchangesinrankreflecthoweffectivelyindividualbrandshavenavigatedpricingpressure,market-specificdemand,andinternationalexpansion,

whilescale,franchisingstrength,andgeographicdiversificationcontinue

toactas

thekeystabilising

forcesforleadingrestaurantbrands.McDonald’s(brand

value

up5%to

USD42.6billion)reclaimedthetopspotin2026,drivenbyits

largeglobal

footprintandsteadyfranchiseincome,despitegrowing

concernsaroundaffordabilityinsomemarkets.Starbucksrankedsecondbutsawitsbrandvaluefall4%to

USD37billion,with

tougher

competition

inkeymarkets,includingChina,limiting

theimpact

ofimprovingstoreperformance.DespitechallengesinpartsofEurope,KFCalsomaintaineditsthirdrank,withan8%brandvaluerisetoUSD16.5billion,supportedbystrong

momentuminChinaandcontinuedexpansionacrossitsinternationalfootprint.Subway

(brand

value

up18%to

USD9.5billion)

rankedfourth,withitsbrandvaluegrowthdriven

by

overseasexpansionandrisingdigitalsales,

despiteasmallerUSstorebase.In

fifth

place,Chick-fil-A(brand

value

up44%

toUSD8.1billion)deliveredoneofthestrongestbrand

valuegains,drivenbyrecordrevenues,expansion,

andstrongcustomerloyalty.Remaining

at

the

sixth

spot,Tim

Hortons

recordeda9%increase

in

brand

value

to

USD7.5billion

due

toitsstrongpresenceinCanada,wherefrequentvisits

drivesales.

Thebrand’sconsistentsuccessalsomade

ita

keyearningscontributorforparentcompany,RestaurantBrandsInternational.Domino’s

Pizza

(brand

value

up6%to

USD7.1billion)rankedseventh,supportedby

franchisescaleand#2TMStarbucks$37.0bn-4%#3FCKFC$16.5bn+8%#4SUBWAYSubway$9.5bn+18%#5Chick-fil-A

#6

TimHortons$7.5bn+9%#7Domino'sPizz$7.1bn

a

+6%#8 Taco

BellTACOBELL$6.9bn0%MostValuableRestaurantBrands2026#10

Pizza

Hut

Top

10MostValuable

©

Brand

Finance

Plc.

2026RestaurantBrands2026Brand

Finance

Restaurants252026

brandirectory.com/restaurants

9WendyIs

$42.6bnMcDonald's

+5%y\#9#1recurringroyaltyincome,thoughsofterconsumer

sentimentandpressureondiscretionaryspending

inkeymarketslimitedstrongergrowth,reflecting

broaderchallengesacross

theglobalpizzadeliveryanddine-insegment.Taco

Bell

dropped

three

ranks

to

eighth,withabroadlystagnantbrandvalueatUSD6.9million,

as

value-ledofferssupported

trafficbutongoing

discountingconstrainedgrowth.At

the

ninth

spot,Wendy’s

recorded

a4%declineinbrandvaluetoUSD5billion.

Storeclosuresaimed

atimprovingefficiencyareexpected

tostabiliseperformanceovertimebutconstrainednear-termbrandvaluegrowth.Completing

the

top10,Pizza

Hut’s

brand

valuewent

up4%to

USD4.9billion,

supported

by

stronger

digitalsalesandcloserengagementwithcustomersthroughpersonalisedoffers.Continuedinvestmentin

onlineorderingandloyaltyprogrammeshelpedsustain

demandacrossbothdeliveryanddine-informats.Overall,the

limited

movement

within

the

top10highlightsthematurityof

theglobalrestaurantsector,

whereestablishedbrandsbenefitfromentrenchedscaleandresilientbusinessmodels.Whileindividualbrandshaveshiftedpositionsbasedonrelativegrowthperformance,therankingsuggests

thatmeaningfuldisruptionat

the

topremainsunlikelyinthenearterm.Instead,competitive

advantageisincreasinglydeterminedbyhowwellleadingbrandsmanagepricing,protectvalue

perceptions,andconverttheirglobalfootprintintosustainableearningsgrowth.Brand

Finance

Restaurants252026

brandirectory.com/restaurants

10Chick-fil-Aemergedasthefastest-growingrestaurantsbrandin2026,withitsvaluerisingby44%to

USD8.1billion,driven

by

stronger

revenueexpectationsanddisciplinedexpansionsacross

theUS.

Thebranddeliveredrecordrevenuesoverthepastyear,

reflectingsteadysystemsalesgrowthandconsistent

executionacrossitsnetwork.Expansionplayedacentralrole,withChick-fil-Aaddingmorethan150nettnewlocationsbetween

2024-2025,bringing

its

footprint

to

around3,000

restaurants.Continuedgrowthacrossfranchised,

company-operated,andlicensedformats,including

airportsanduniversitycampuses,supportedhigherfutureearningspotential.Alongsidethisgrowth,thebrandexperiencedanotableshiftinconsumersentimentfollowingchanges

toitschickensourcing,whichpromptedonline

backlashamongsomecustomers.

Thisisreflectedin

Brand

Finance’s

GBEM

data,where

Chick-fil-A’s

likeabilityscoredeclinedby4%,indicating

that

the

changehadanegativeimpactonhowsomeconsumersperceive

thebrand.While

thishasnotmateriallyaffectedbrandvaluegrowthtodate,ithighlightsthesensitivityofcustomer

perceptionsevenas

thebrandcontinues

toscale.FastestGrowingBrandValueChick-fil-ABrand

Finance

Restaurants252026

brandirectory.com/restaurants

11LuckinCoffee’srapidrisereflectsitssuccessinturningcoffeeintoafrequent,everydayhabitrather

thananaspirationalpurchase.In2026,the

brand

recorded

value

growth

of40%

toUSD2.4billion,underpinnedbyasignificantly

strongerrevenueforecastandcontinuednetwork

expansion.LuckinCoffee’slargestorenetworkandapp-basedorderingmakeiteasyforcustomers

tobuycoffeefrequently.By

Q3of2025,the

brand

operated

over29,214storesworldwide,locatedclosetodailycommuting

andworkingpatterns.Luckinfocusesonspeed,convenience,andconsistentpricingoverlarge

cafésorpremiumexperiences,cateringtoeverydayurbancoffeehabits.Rapidexpansionhassupportedrevenueexpectationsandbrandvaluegrowth,evenascompetitionintensifiesinChina’svalue-focusedcoffeemarket.However,asthepaceofstoreopening

slows,futuregrowthislikelytodependlessonfootprintexpansionandmoreonsustainingcustomer

engagementandloyaltyas

thebrandmatures.Mixue’sisanewentranttotheranking,valuedatUSD4.6billion.Itsbrandstrengthisbuiltonanuncompromisingfocusonaffordability,deliveredatascaleunmatchedbymostrestaurantbrandsglobally.By

late2025,MIXUEGroup’sglobalfootprinthadexpandedfurther

to

over53,000stores

worldwide,supported

by

alowclosurerateof

justunder4%Thisrapidexpansion

reflects

thestrengthofitshighlystandardisedfranchisemodelandclearvalueproposition.Mixue’sconsistentlylowprices,oftenunderUSD1.50,appeal

tobudget-consciousconsumers,especiallyasfinancialpressuresrise.Byfocusingon

reliability,familiarity,andpricecertaintyratherthan

experienceorbrandstorytelling,Mixuehasachieved

strongvolumegrowthcomparedtocompetitors.Internationally,

thebrandhasalsogainedmomentum,operatingaround4,895overseasstoresbylate2025,primarilyacrossSoutheastAsia,including

IndonesiaandVietnam.Although

thisapproachrestrictspremiumappeal,Mixueshowsthatstrict

pricing,efficientcostmanagement,andscalecan

buildbrandstrengthwhereaffordabilityiskey.BrandstoWatchLuckinCoffee&

MixueBrand

Finance

Restaurants252026

brandirectory.com/restaurants

12

BrandStrengthAnalysisLOCAL

LEADERS:BrandStrengthiscalculatedwithinbrands’addressablemarkets.Somebrandsfocusontheirlocalmarketswhereassomeareinternational.Whenaveragingbrandstrength,

internationalbrands’strengthwilloftenbecomelowerthansinglemarketbrands

becausemaintainingaleadershipposition

canbedifficultacrossmultiplemarkets.Haidilao

(brand

value

up22%to

USD4.4billion)retainsitspositionas

thestrongestrestaurantbrand

globally,withaBrandStrengthIndex(BSI)scoreof

89.5/100and

an

AAA

brand

strength

rating.Highawareness,alongsidestrongperceptionsofservice

qualityandexpertiseinthebrandscountryoforigin,

China,continuestounderpinitsperformance.

#3McDonald's88.1#4

MIXUESINCE

1997·

ICECREAM&TEAMixue88.1#5J

beJollibee87.9—

#6Chick-fil-A87.0#7KFC85.4Althoughthebrand’sBSIdeclinedyearonyear,

Haidilaobenefitsfromdeep-rootedtrustand

ahighlydistinctivediningexperienceacross

itscoremarkets.BrandStrengthAnalysis#2

Greggs88.2Global

Top

10

©

Brand

Finance

Plc.

2026StrongestRestaurantBrands2026Brand

Finance

Restaurants252026

brandirectory.com/restaurants

14#9

-a·uckinc。ffee

LuckinCoffee

83.8Haidilao

89.5Domino'sPizzaOliveGarden母底捞Haidilao84.680.3#10#8#1eTheUK’sGreggsranksasthesecondstrongestbrandinthe2026Restaurantsranking,withaBSIscore

of88.2/100and

an

AAA

brand

strength

rating,supportedbystrongfamiliarity,everydayrelevance,and

aclearvalue-ledpropositionamongrespondentsinitshome

market

of

UK.Its

brand

value

rose

by11%to

USD1.4billion

in2026.Greggs’consumerperceptionssoftenedamidmountingpricesensitivityandweakervalueperceptions

during2025drivenbyaseriesofpriceincreases,including

that

of

its

sausage

roll

from£1.30

to£1.35,alongsidesofterdemandduringperiodsofunusuallyhotweatherthatreducedrelevanceforitscorehotfood

offering.

ThisshiftisreflectedinBrandFinance’sGBEM

data,whereGreggs’priceacceptancescorefellby5%,

signalinggrowingsensitivity

topricingdespitethebrand’scontinuedstrength.Moving

up

one

position

from

last

year,McDonald’s(brand

value

up5%to

USD42.6billion)completesthetopthreeforbrandstrength,withaBSIscoreof

88.1/100and

an

AAA

brand

strength

rating.However,

itsBSIdeclinedyearonyear,reflectingmountingpressureoncustomerperceptionsinkeymarkets,particularlytheUS.InearlyFY25,customertraffic

fell,especiallyamonglower-andmiddle-income

consumers,ashigherfoodpricesandbroadereconomicpressuresweighedonaffordability.Correspondingly,BrandFinance’sGBEMdatashoweda2%declineinUSpriceacceptanceand

a1%dropinengagement,pointing

toaweakening

emotionalconnectiondespitethebrand’scontinuedmarketleadership.By

contrast,Jollibee

(brand

value

up32%toUSD3.3billion)highlights

theimportanceoflocalrelevanceindrivingbrandstrength.WithaBSIscoreincrease

from83.8/100(2025)

to87.8/100

this

year,

supportedbyabrandstrengthratingofAAA,BrandFinance’smarketresearchdatainvolvingrespondents

inPhilippinesreflectsstrongculturalresonanceand

habitualuse,whileweakerperformanceintheUSpointstolimitedmainstreampenetration.Singaporesitsbetween

these

twoextremes,suggesting

thatregionalfamiliarity

translatesmoreeffectively

than

inWesternmarkets,thoughscalingeverydayrelevance

beyond

thehomemarketremainsachallenge.avioursSelectionmer

BehAdvocacyCustoPriceAcceptanceKnowledgeCredibilityAppeal

JollibeeBrandStrengthAttributesHeatMap

©

Brand

Finance

Plc.

2026Weaker

performance

o

o

o

o●Stronger

performanceFactor

Philippines

United

StatesSingaporeBrand

Finance

Restaurants252026

brandirectory.com/restaurants

15BrandStrengthAnalysisBrandPerceptions

Sustainability

AnalysisSustainabilityisakeydriverofconsumerchoiceandreputationintherestaurantssector,

wheresustainabilitydrives6.4%ofconsideration.Thisisdrivenbyheightenedconsumerexpectations

aroundresponsibleandlocalsourcing,foodwaste

reduction,ethicallabourpractices,andoperational

transparency.Researchshows

that

USdinersincreasinglyconsidersustainablesourcing,waste

management,andpackagingwhenchoosingrestaurants,linking

theseefforts

tohigherquality

andcredibility.Sustainabilityperformancesignals

goodmanagement,andfoodwastereductionand

sustainableoperationsmaysupportperceptions

ofefficiency,fairness,andservicequality.BrandFinanceresearchshowsthatChili’sandMixuearetherankedRestaurantsbrandswiththehighestsustainabilityperceptionsacrossESG.

Dave&Buster’sandSushiroarealsostronglyperceived.The2026SustainabilityPerceptionsIndexwillbereleasedinFebruary,revealingwhichbrands

areperceivedtohavethestrongestcommitment

tosustainabilityglobally,

thechangingroleofsustainabilityindrivingdemand,and

thelarge

amountsofvalue

tied

tosustainability,value

atriskandvaluebeingsecuredbytheworld’s

biggestbrands.GroupBrandValueBrand

Valueiscalculated

for

thebrandinaccordancewith

ISO10668.SustainabilityDriver

(%)HighImportance%LowImportanceContributionofsustainability

tobrandvaluedeterminedusingdriversIanalysisI.SustainabilityPerceptionsScorePerceptionsof

thebrandIscommitment

tosustainabilityare

transformedintoscores

thatmodifythe

final

value.SustainabilityPerceptionsValue$Theproportionofbrandvalue

thatisattributabletosustainabilityperceptions.

Valuing

Sustainability

Perceptions

©

Brand

Finance

Plc.

2026SustainabilityAnalysisBrand

Finance

Restaurants252026

brandirectory.com/restaurants

17ISO10668XX=2026Rank2025RankBrandCountry2026BrandValueBrandValueChange2025BrandValue2026BrandRating11=McDonaldIsUnitedStates42,640+5.3%40,512AAA22=StarbucksUnitedStates37,029-4.5%38,760AA33=KFCUnitedStates16,528+7.6%15,360AAA44=SubwayUnitedStates9,520+17.8%8,082AA-58▲Chick-fil-AUnitedStates8,122+43.6%5,658AAA66=TimHortonsCanada7,458+9.1%6,839AA-77=DominoIsPizzaUnitedStates7,122+6.4%6,691AAA-851TacoBellUnitedStates6,915+0.0%6,916AA+99=Wendy

IsUnitedStates4,972-3.7%5,165AA+1010=PizzaHutUnitedStates4,950+4.0%4,759AA1113▲DunkinIUnitedStates12-3MixueChina1314▲HaidilaoChina14111BurgerKingUnitedStates15121ChipotleUnitedStates1616=OliveGardenUnitedStates17151TexasRoadhouseUnitedStates18171JollibeePhilippines1919=LuckinCoffeeChina20181PopeyesUnitedStates21-3GreeneKingUnitedKingdom2225▲ChiliIsUnitedStates23211GreggsUnitedKingdom24231LonghornSteakhouseUnitedStates25241Dutch

BrosUnitedStates

BrandValueRanking(USDm)Brand

Finance

Restaurants252026

brandirectory.com/restaurants

18

MethodologyDefinitionsBrandValue+BrandValueThevalueofthetrademarkand

associatedmarketingIPwithin

thebrandedbusiness.BrandFinancehelpedtocraftthe

internationallyrecognisedstandard

on

Brand

Valuation–ISO10668.Itdefinesbrandasamarketing-related

intangibleassetincluding,butnot+EnterpriseValueThevalueoftheentireenterprise,

madeupofmultiple

brandedbusinesses.Whereacompanyhasapurely

monobrandedarchitecture,the

‘enterprisevalue’is

thesameas

‘brandedbusinessvalue’.+BrandedBusinessValueThevalueofasinglebrandedbusiness

operatingunderthesubjectbrand.Abrandshouldbeviewedinthe

contextof

thebusinessinwhich

itoperates.BrandFinancealwayslimited

to,names,

terms,signs,symbols,logos,anddesigns,intended

toidentifygoods,services

orentities,creatingdistinctiveimages

andassociationsin

themindsofstakeholders,

therebygenerating

economicbenefits.conductsabrandedbusinessvaluationaspartofanybrandvaluation.Weevaluatethefullbrand

valuechaininordertounderstand

thelinksbetweenmarketinginvestment,brand-trackingdata,

andstakeholderbehaviour.EnterpBranBraBrand

Finance

Restaurants252026

brandirectory.com/restauran