Budweiser has been crowned the world’s most valuable beer brand for the first time, according to a new report.

The beer brand overtook long-standing leader Bud Light, according to the latest report by independent brand valuation consultancy Brand Finance.

Budweiser’s brand value has increased 6% to US$7.5 billion, thanks to the success of its global sponsorship campaign of the 2018 FIFA World Cup.

The campaign reached 3.2 billion football fans globally, facilitating accelerated growth in new markets including South Africa, Colombia, China and Australia.

Both Budweiser and Bud Light, which dropped 5% to US$7.0 billion, are the flagship brands of Belgian brewing giant AB InBev.

The AB InBev portfolio dominates the rankings with 11 brands claiming spots in the top 25, down from 13 last year.

The brewer closed the third largest acquisition in history in 2016, after merging with SABMiller, and has since been tackling its mountainous debt pile, predominantly through sales drives, the report said.

Elsewhere, the finds showed that Chinese brands record fastest growth. China’s Snow is the fastest-growing brand in this year’s ranking, breaking into the top 10 for the first time, with a 52% rise in brand value to US$3.7 billion.

Snow, the best-selling beer in the world, clocking up 101.2 million hectolitres of beer sold per year, more than double that of Budweiser’s sales.

According to the report, the brand, which historically has only been sold in China, has made a number of strategic partnerships in order to raise its global presence, notably with Dutch brewing giant Heineken and America’s Molson Coors.   

Tsingtao, which is up 49% to US$1.7 billion, jumped up 9 places in the ranking, more than any other brand.

It continues to retain its loyal customer base in its home country and is also the most exported Chinese beer, sold in over 100 countries and regions globally. 

David Haigh, CEO of Brand Finance, said: “As you can see across this year’s ranking, it is the Asian, particularly Chinese, beer brands that are seeing the highest brand value growth.

“With demand for beer at an all time high in China and predictions of inflated growth over the coming years as a result of greater disposable income from the emerging middle class, this trend looks set to continue.

“If these brands begin to expand beyond China and into new markets, we could potentially see some very stiff competition to established Western beer brands.”

Scotland-headquarted BrewDog was the highest new entrant in the ranking in 19th position, with a brand value of US$1.5 billion. The report acknowledged its ambitious growth plans across key international markets, with new breweries and bars in the pipeline both at home in the UK and abroad.