Guinness is the most valuable Irish brand and Baileys the most recognisable across the world

Guinness, which saw massive sales growth of more than 30pc this year thanks to increasing post-pandemic demand, is now worth €2.4bn, according to the study.

Baileys, which the study says is worth €1.2bn, scored highest on familiarity of any spirit brand in the UK, with almost 90pc of people surveyed recognising it.

“With the world firmly facing a post-pandemic future, Irish brands are at the heart of celebrations across the world,” said Declan Ahern, director of Brand Finance.

“Across the world, people celebrating events from the end of a work week, to the start of a marriage, raise glasses of Guinness or Baileys. These Irish brands are front-and-centre of people’s lives across the world, spreading a little Irish cheer and love globally.”

After Guinness, the most valuable Irish brands were low-cost carrier Ryanair (worth €2.3bn), fashion retailer Penneys (€2.1bn) and packaging giant Smurfit Kappa (€1.9bn).

Irish-American automotive tech firm Aptiv, Bank of Ireland, insulation maker Kingspan, Baileys, Allied Irish Bank (AIB) and whiskey maker Jameson rounded out the top 10.

In terms of brand strength, Baileys was followed in second place by Guinness.

Penneys, gambling firm Paddy Power and Jameson also featured in the top 10 strongest brands, as did food group Glanbia’s Optimum Nutrition, rasher maker Denny, construction materials giant CRH and Kerry foods.

Several Irish-listed companies, including Glanbia, Kerry and CRH, have recently announced record sales and earnings, despite post-pandemic supply issues and soaring costs.

Brand Finance surveyed 5,000 of the world’s biggest brands, ranking the top 25 most valuable and strongest in Ireland.