On 24 August, the Hurun Research Institute released the Hurun China Brand List 2026 in Shanghai. Yanjinpuzi was included on the list with a brand value of RMB 4 billion, ranking 246th overall.
This marks the 21st consecutive year the Hurun Research Institute has published the ranking. A total of 502 brands made it to this year’s list, originating from 17 countries and regions. The entry threshold stood at RMB 2 billion.
The List Undergoes Overall Adjustment
The aggregate value of listed brands this year reached RMB 8 trillion, representing a 10% year-on-year decline. Among them, 90 brands saw their brand values rise, 277 recorded decreases, 88 remained unchanged, 47 were new entrants, and 50 dropped off the list. The threshold for the Top 100 was RMB 12 billion, the Top 200 RMB 5.5 billion, and the Top 300 RMB 3 billion.
Against the backdrop of mounting pressure across the consumer market and falling brand values for most players, the evaluation results of this year’s list demonstrate strong screening effects.
11 Brands Listed in the Leisure Snack Sector; Yanjinpuzi Ranks Second among Chinese Manufacturers
Food & Beverage was the second most represented sector on this year’s list, with 63 listed brands boasting a combined brand value of RMB 552.5 billion, accounting for 6.9% of the total, second only to the financial sector with 65 brands. Leading players in the sector include Nongfu Spring, Haitian, Coca-Cola, Red Bull and Yili. Yanjinpuzi ranks 30th within the Food & Beverage category.
Within the leisure snack subsector, 11 brands were selected this year, including six Chinese snack manufacturing brands: Want Want (RMB 7 billion), Yanjinpuzi (RMB 4 billion), Weilong (RMB 4 billion), Daliyuan (RMB 3 billion), Hsu Fu Chi (RMB 3 billion), and Bestore (RMB 2 billion). Yanjinpuzi is the second-ranked brand among Chinese snack manufacturers. Two new entrants, Zhaoyiming Snacks and Lingshi Henmang, were featured on both the e-commerce and retail rankings.
The remaining five are international or internationally controlled brands: Ferrero (RMB 4.5 billion), Dove (RMB 3.5 billion), Oreo (RMB 3 billion), Lay’s (RMB 2.5 billion), and Snickers (RMB 2 billion).
In terms of average value, the six Chinese snack manufacturers have a combined brand value of RMB 23 billion, averaging approximately RMB 3.83 billion per brand; the five international or internationally controlled brands total RMB 15.5 billion, with an average of RMB 3.1 billion per brand. In terms of ranking distribution, all the above-mentioned international brands, with the exception of Ferrero, are placed after 274th. Chinese snack brands have reached a stage where their brand recognition among local consumers enables them to compete head-to-head with international counterparts.
Mass Snack Retail Brands Enter the Ranking for the First Time
Two mass snack retail channel brands appeared on the list for the first time this year: Zhaoyiming Snacks ranked 222nd with a brand value of RMB 4.5 billion, and Lingshi Henmang ranked 274th at RMB 3.5 billion. The Hurun Research Institute described this phenomenon in its report as “the rapid rise of China’s mass snack retail sector”.
The report also notes that China’s online retail market is undergoing channel transformation, driven by dual engines: the expansion of instant retail and deeper penetration into lower-tier markets.
The rapid build-up of brand value on the channel side poses new requirements for upstream manufacturers. Amid continuous evolution of retail formats, only enterprises with proprietary brands and direct consumer recognition can sustain stable brand value.
Industry Observation: Brand Equity Accumulation Still in Early Stage
The combined brand value of the 11 leisure snack brands on the list stands at approximately RMB 38.5 billion, accounting for 6.97% of the Food & Beverage sector’s total of RMB 552.5 billion and 0.48% of the overall list’s RMB 8 trillion. For reference, Kweichow Moutai alone holds a brand value of RMB 700 billion and Nongfu Spring RMB 57.5 billion.
These figures reveal a notable gap between the maturity of brand equity and the scale of the leisure snack industry, a sector with extensive daily consumption coverage. Historically, competition in the industry centered on production capacity, distribution channels and product iteration, while systematic accumulation of brand equity remains at an early stage.
As stated in this year’s Hurun report, one of the key growth drivers in the Food & Beverage sector is the revitalization of iconic national brands. For Chinese snack enterprises, the transformation from manufacturing strength to brand equity represents a shared priority for the next phase of development.