Soy sauce maker Haitian Flavoring became the most valuable brand in China's food and beverage industry with its brand value jumping 95 percent to 120 billion yuan ($18.6 billion) on a yearly basis in 2020, according to the Hurun Most Valuable China Brands 2020 list, which was released on Jan 21.

The brand value of Nongfu Spring landed in second place, with its growth skyrocketing 1,675 percent to 71 billion yuan during the same period.

A total of 11 food and beverage brands made this year's list, with seven of them being privately owned companies.

Let's take a look at the top 11 most valuable food and beverage brands in China in 2020.

No 11 Wanglaoji

Brand value: 8 billion yuan

New Wanglaoji products specially designed for online sales during the Spring Festival holiday. [Photo provided to chinadaily.com.cn]

No 10 Taoli Bread

Brand value: 8.5 billion yuan

Taoli soft toast bread. [Photo/IC]

No 9 Teway Food

Brand value: 9 billion yuan

Teway Food is awarded the Sichuan FMCG Industry Impact Award by Chinese tech giant Tencent on Jan 18, 2021. [Photo/teway.cn]

No 8 Dali

Brand value: 11.5 billion yuan

Snacks and beverages made by Dali Foods. [Photo/IC]

No 7 Wahaha

Brand value: 14.5 billion yuan

Wahaha's milk tea ready for sale at a store in Hangzhou, East China's Zhejiang province, on Aug 10, 2020. [Photo/IC]

No 6 Mengniu

Brand value: 18 billion yuan

Boxes of Mengniu milk are sold at a supermarket in Xuchang, Central China's Henan province, on Sept 18, 2020. [Photo/IC]

No 5 Shuanghui

Brand value: 28.5 billion yuan

Shuanghui crispy hotdog sausages are sold at a Wal-Mart supermarket in Guangzhou, Guangdong province, on March 12, 2020. [Photo/IC]

No 4 Yili

Brand value: 40.5 billion yuan

Packages of Yili pure milk are seen at a supermarket in Shanghai. [Photo/IC]

No 3 China Feihe

Brand value: 43 billion yuan

Visitors at a Feihe Dairy milk formula booth at an exhibition in Zhengzhou, Henan province. [Photo provided to China Daily]

No 2 Nongfu Spring

Brand value: 71 billion yuan

A bottle of Nongfu Spring water. [Photo/Sipa]

No 1 Haitian Flavoring

Brand value: 120 billion yuan

Soy sauces made by Haitian Flavoring shelved at a supermarket in Yichang, Central China's Hubei province, on Sept 22, 2020. [Photo/IC]