Liquor is a massive industry.

Brand Finance, a consulting company that specializes in brand valuation, released its annual report on the world’s most valuable spirits brands.

See below for the 25 most valuable liquor brands:


No. 25: Havana Club

Foto: source Reuters

Category: Rum

Brand value: $554 million

Brand rating: AA+


No. 24: Gujing Gong Jiu

Foto: source Badagnani/Wikimedia

Category: Baijiu

Brand value: $575 million

Brand rating: A+


No. 23: Old Parr

Foto: source REUTERS/Suzanne Plunkett

Category: Whisky

Brand value: $576 million

Brand rating: AAA-


No. 22: Cîroc

Foto: source REUTERS/Shannon Stapleton

Category: Vodka

Brand value: $595 million

Brand rating: AA-


No. 21: Grant's

Category: Whisky

Brand value: $596 million

Brand rating: A+


No. 20: Jim Beam

Foto: source Steven Perlberg / Business Insider

Category: Whiskey

Brand value: $636 million

Brand rating: AA-


No. 19: Jagermeister

Foto: source By sucklead on Flickr

Category: Bitters

Brand value: $658 million

Brand rating: AA-


No. 18: Jameson

Foto: source International Whisky Competition

Category: Whiskey

Brand value: $706 million

Brand rating: AA-


No. 17: Ballantine's

Foto: source Pernod Ricard/Wikimedia

Category: Whisky

Brand value: $713 million

Brand rating: AAA-


No. 16: Mcdowell's

Foto: source Wikimedia

Category: Rum, Brandy, Whisky

Brand value: $805 million

Brand rating: AA+


No. 15: Luzhou Laojiao

Foto: source REUTERS/China Daily

Category: Baijiu

Brand value: $942 million

Brand rating: AA+


No. 14: Ricard

Foto: source Wikimedia

Category: Anis

Brand value: $952 million

Brand rating: AAA


No. 13: Grey Goose

Foto: source Getty Images for New York Magazine

Category: Vodka

Brand value: $1.23 billion

Brand rating: AA


No. 12: Chivas Regal

Foto: source Flickr/Michael Kappel

Category: Whisky

Brand value: $1.26 billion

Brand rating: AAA


No. 11: Ruang Khao

Foto: source Martin Belam via Wikimedia Commons

Category: Rum

Brand value: $1.29 billion

Brand rating: A+


No. 10 Absolut

Foto: source Flickr Creative Commonsn/Wari

Category: Vodka

Brand value: $1.43 billion

Brand rating: AA


No. 9: Crown Royal

Foto: source Crown Royal

Category: Whisky

Brand value: $1.49 billion

Brand rating: AAA


No.8: Wuliangye

Foto: source Wuliangye promotional video.

Category: Baijiu

Brand value: $1.63 billion

Brand rating: A+


No. 7: Yanghe

Foto: source http://www.yangheglobal.com/

Category: Baijiu

Brand value: $1.85 billion

Brand rating: AA-


No. 6: Bacardi

Foto: source eBay

Category: Rum

Brand value: $1.89 billion

Brand rating: AA+


No. 5: Smirnoff

Foto: source Wikimedia

Category: Vodka

Brand value: $2.02 billion

Brand rating: AA+


No. 4: Jack Daniel’s

Foto: source Getty Images for New York Magazine

Category: Whiskey

Brand value: $2.50 billion

Brand rating: AAA-


No. 3: Hennessy

Category: Cognac

Brand value: $2.87 billion

Brand rating: AA


No. 2: Johnnie Walker

Foto: source Wikimedia Commons

Category: Whisky

Brand value: $4.63 billion

Brand rating: AAA-


No. 1: Moutai

Foto: source REUTERS/China Daily

Category: Baijiu

Brand value: $5.77 billion

Brand rating: AA+