RAW: Raw files are exactly what they are, raw. The images are the most highest quality in can be and are lossless
DNG (Digital Negative): DNG is similar to RAW, however the image data is in a compatible, universal format. Their size is also 15-20% smaller without the loss of quality.

TIFF (Tagged Image File Format): TIFF is known for its flexibility with editing. Since it retains its information in layers, it makes it compatible with popular programs such as Photoshop, Lightroom, Illustrator, etc. Which makes it popular among graphic artists, photographers, and publishers.
GIF (Graphics Interchange Format): GIF’s are unique. It consists of a moving image but aren’t considered videos, which makes it great for graphics and visuals with animations. They are usually short and controversial due to its two different pronunciations, “jif” and “gif.”
PNG: PNG’s are usually known for their transparency options. It is popular amongst photo editors and graphic designers due to this feature, and is also easy to be shared on the web.
JPEG: JPEG’s are the most common file format in digital cameras. It contains an algorithm that removes the tiniest details in order to save space while still presenting a high quality image.