Apple was ranked the world’s number one brand for the 11th year in a row, with a value of more than $500bn, with the total brand value for the top 100 firms reaching $3.3 trillion, up from $3.1 trillion in 2022.

The rest of the top 10 brands were, starting in second, Microsoft, Amazon, Google, Samsung, Toyota, Mercedes-Benz, Coca-Cola, Nike and BMW.

Airbnb was the fastest rising company in the ranking, up to 46th and with 21.8% growth in brand value, with Porsche, Hyundai, Ferrari and Sephora also in the top five firms for brand growth.

Interbrand said the slower growth in brand value was due to a lack of growth mindset, weaker brand leadership and poor forecasting, and follows a longer-term trend in which brands operating exclusively in one sector taking an incremental approach have experienced slower brand value growth.

In contrast, brands that operate across multiple sectors made up 50% of the total value of the top 100 brands, according to Interbrand.

The findings are based on analysis of financial performance, the role a brand plays in purchase decisions and a brand’s competitive strength.

Gonzalo Brujó, global chief executive officer at Interbrand, said: “After a few years of strong brand growth, we have entered a period of stagnation, with this year’s table showing moderate growth in overall brand value among the world’s biggest brands.

“Businesses which have witnessed a rise in brand value, including Airbnb (#46 ), Lego (#59 ) and Nike (#9 ) have all transcended their established category norms and play a more significant and meaningful role in society and consumer’s lives.

“As we continue to navigate economic and environmental headwinds, there is a need for improved business cases and better brand management to drive future investment and sustain growth within traditional sectors and beyond. Those who can successfully leverage their brand into new consumer pools of potential will reap the rewards of strong brand growth.”