- With a brand value of $191bn, McDonald’s is more valuable than the rest of the global fast-food category combined
- Digitalization and delivery innovation are driving brand value for the category
- Overall brand value of the top 10 fast food brands fell 4%, among the shallowest drop when compared to the Global Top 100’s average drop of 20%
June 14, 2023 – Fast food brands are among the most resilient in this year’s Kantar BrandZ Most Valuable Global Brands report, with the global top 10 fast food brands totaling $340bn in brand value. When compared with a 20% overall drop in the Global Top 100, fast food brands dropped just 4% in value, performing as well as the luxury industry.
Behind the fast-food category’s success in the brand rankings is the global expansion of McDonald’s and Starbucks franchises. Both opened thousands of new stores across the world, building a wider audience, particularly in China and the wider Asian market, where lockdowns had previously put a halt on expansion plans. The top 10 global fast-food brands have increased in value by over 34% vs pre-pandemic levels.
Improved customer experience was also a major contributor to the fast-food category’s performance. Streamlined delivery services, following the fast pivot during the pandemic, and embracing digital novelty concepts for store formats and takeaway services have proved successful in keeping diners happy.
Martin Guerrieria, Head of Kantar BrandZ, commented, “When the going gets tough, fast food is one of the few sectors best placed to thrive. Consistent expectations and perceived value mean that people will often turn to their favorite fast-food restaurant despite other options. And with the top brands keeping a close eye on digital trends that will consistently improve its customer experience, such as McDonald’s experimenting with AI chatbots, it will remain a strong category for years to come.”
Kantar BrandZ Top 10 Most Valuable Global Fast Food Brands 2023
Rank |
Brand |
Brand Value 2023 ($Mil.) |
Brand Value 2022 ($Mil.) |
|---|---|---|---|
1 |
McDonald’s |
191,109 |
196,526 |
2 |
Starbucks |
61,534 |
61,758 |
3 |
KFC |
22,056 |
22,293 |
4 |
Chipotle |
13,318 |
16,234 |
5 |
Subway |
11,002 |
12,647 |
6 |
Domino’s Pizza |
10,655 |
13,902 |
7 |
Pizza Hut |
8,807 |
8,954 |
8 |
Burger King |
7,676 |
7,134 |
9 |
Taco Bell |
7,185 |
7,769 |
10 |
Chick-Fil-A |
7,139 |
6,959 |
Guerrieria continues, “Fast food brands are uniquely positioned to innovate and increase their brand value as recession looms for many – from creating an improved in-store experience, as collection vs delivery rates increase, to finding iconic moments that transform the customer experience. At a time when many households are tightening their budgets, continuing to streamline operations will also remain important to win over hearts and wallets by showing to consumers fast-food brands are on their side”.
Other key findings from the 2023 Kantar BrandZ global report include:
- Burger King outperformed the wider category thanks to its investment in long-term brand building. The brand spent $400 million on its “Reclaim the Flame” strategy in 2022, with $150 million of the budget going toward advertising and digital
- Maximizing customer value while balancing rising costs will be critical for the sector as customers continue to manage the cost-of-living crisis. While delivery is likely to remain a major sales channel for fast food brands, rising costs could see a shift to more customers opting for pickup to save delivery fees
- Brands with momentum: Fast food brands to watch over the next year include Canadian burrito brand, Freshii, Bastard Burgers from Sweden and Korea’s leading burger and chicken brand, Mom’s Touch
The Kantar BrandZ Most Valuable Global Brands 2023 report, including a detailed analysis of the fast food sector, is available now via www.kantar.com/campaigns/brandz/global
For an overarching view of a brand’s performance, Kantar has launched a new, free interactive tool using BrandZ’s wealth of data. BrandSnapshot powered by BrandZ delivers intelligence on 10,000 brands in more than 40 markets, offering a quick read on a brand’s performance in a category.