In this piece, we are going to look at 16 Largest Soda and Soft Drink Companies in The World.
The global soft drinks market size was valued at USD 413.46 billion in 2021, and it is anticipated to reach USD 621.66 billion by 2030 at a CAGR of 5.23%.
In 2019, fizzy drinks like sodas were still rocking the soft drink world, making up 55% of the industry’s value. Non-carbonated drinks, like juices and teas, had a solid 45% slice of the pie. In 2019, North America, Europe, and Northeast Asia had the biggest chunks in the soft drink world. North America took the top spot with a 40% share, followed by Europe at 20%, and Northeast Asia at 14%.
Based in Atlanta, Georgia, The Coca-Cola Company (NYSE:KO) is like the big boss of the soft drink world and is arguably the largest soft drink company of the world. They’ve been at it since 1892, with over 500 brands under their belt and reaching thirsty folks in 200+ countries. As of 2021, The Coca-Cola Company (NYSE:KO) still reigns supreme in the soda battle, holding about 48% of the global market share. Moreover, in 2022, The Coca-Cola Company (NYSE:KO) was rocking it as the top player in the U.S. soda game, holding a hefty 46.3% of the market share for carbonated drinks.
Coke crushed it with a 12% sales bump in Q4 and for the entire 2023, ending 31 December. That’s way better than what PepsiCo pulled off. PepsiCo (NASDAQ: PEP) posted a 10% rise in overall sales and a 7% uptick in beverages for the same period. The Coca-Cola Company (NYSE:KO) is aiming for a solid 6% to 7% sales growth for 2024, outpacing Pepsi’s 4%. Looks like they’re gearing up for another successful year ahead!
In contrast, PepsiCo (NASDAQ: PEP) is not too far behind Coca-Cola, with around 20.5% share of market, and is rightfully, the closest competitor to Coca-Cola. PepsiCo did pretty well in Q4 ending 31 December 2023, with earnings per share beating estimates at $1.78. Sales took a bit of a dip to $27.85 billion, falling short of forecasts. Those pesky foreign exchange rates put a dent in revenue by 1.5%. On the bright side, organic revenue was up 4.5%, thanks to Pepsi upping its prices. However, those higher prices did lead to a drop in volumes for both snacks and drinks, down 3% and 2% respectively.
Now, here’s the scoop on the latest trend: sugary drinks are taking a bit of a hit as folks are leaning more towards non-carbonated soft drinks. It’s all about balance now – people see sugary drinks as more of a treat than an everyday thing. And, on top of that, the suspicion around artificial sweeteners isn’t helping the cause. As consumers pivot away from sugar and artificial stuff, soft drink makers are getting creative. They’re throwing in unique ingredients and flavors that need less sweetening, riding the wave of this changing taste trend. It’s all about finding that sweet spot, right?
Now with this, let’s move on to our list of 16 Largest Soda and Soft Drink Companies in The World.
A colorful display of sparkling waters, juices, energy drinks and carbonated soft drinks on a convenience store shelf, emphasizing the company’s impressive beverage portfolio.
Methodology
To curate our list of 16 Largest Soda and Soft Drink Companies in The World, we referred to Finviz for the market capitalization of the Largest Soda and Soft Drink Companies in The World, as of writing this article. Based on the market capitalization of the companies, we present to you our list of 16 Largest Soda and Soft Drink Companies in The World.
By the way, Insider Monkey is an investing website that tracks the movements of corporate insiders and hedge funds. By using a similar consensus approach, we identify the best stock picks of more than 900 hedge funds investing in US stocks. The top 10 consensus stock picks of hedge funds outperformed the S&P 500 Index by more than 140 percentage points over the last 10 years (see the details here). Whether you are a beginner investor or professional one looking for the best stocks to buy, you can benefit from the wisdom of hedge funds and corporate insiders.
16. Barfresh Food Group, Inc. (NASDAQCM:BRFH)
Market Capitalization: 15.31 million
Barfresh Food Group, Inc. (NASDAQCM:BRFH) is all about those delicious frozen drinks! They whip up ready-to-drink and ready-to-blend smoothies, shakes, and frappes. In the fourth quarter of 2023 ending 31 December, Barfresh Food Group, Inc. (NASDAQCM:BRFH) brought in $1.9 million in revenue, up from $1.4 million in the same quarter of the previous year. This boost came from their increased carton production capacity, winning back some customers lost when their main bottle supplier went MIA, but they did hit a snag at the end of the quarter due to a shortage of 4-ounce and 8-ounce cartons.
15. Zevia PBC (NYSE:ZVIA)
Market Capitalization: 70.40 million
Zevia PBC (NYSE:ZVIA), a company out of Los Angeles, is all about those sugar-free, zero-calorie drinks, teas, and energy boosters sweetened up with stevia. They’ve got something for everyone – gluten-free, vegan, kosher, and approved by The Non-GMO Project. In the fourth quarter of 2023 ending 31 December, Zevia PBC (NYSE:ZVIA) had its net sales going up by 6.9% from the previous year, hitting $37.8 million. Moreover, unit volume increased by 3.7% to 2.8 million cases. Gross profit margin settled at 40.7%, a drop of 3.6 percentage points compared to last year, mostly due to inventory losses during the supply chain shuffle.
14. Safety Shot, Inc. (NASDAQCM:SHOT)
Market Capitalization: 87.81 million
So, get this – Safety Shot, Inc. (NASDAQCM:SHOT) makes a drink like no other beverage out there. It’s the first-ever patented drink that actually helps you feel better quicker by bringing down your blood alcohol levels and giving you a clarity boost. In a sea of drinks, Safety Shot, Inc. (NASDAQCM:SHOT) stands out with its detox superpowers.
So, in the twelve months up to September 30, 2023, Safety Shot made $4.40 million in revenue, dropping by 17.71% from the previous year. And in the quarter ending September 30, 2023, they pulled in $11.88K, which was a big 86.10% decrease year-over-year. Now, looking back at 2022, Safety Shot had annual revenue of $6.20 million, showing a solid 115.44% growth.
13. Embotelladora Andina S.A. (NYSE:AKO-A)
Market Capitalization: 1.01 billion
Embotelladora Andina S.A. (NYSE:AKO-A) in Chile makes soft drinks in Chile, Brazil, and Argentina. In the quarter ending 31 december 2023, Embotelladora Andina S.A. (NYSE:AKO-A) sales hit $817.82 million, down from $835.1 million last year. Furthermore, its net income landed at $85.4 million compared to $47.8 million from a year ago.
12. The Vita Coco Company, Inc. (NASDAQGS:COCO)
Market Capitalization: 1.45 billion
The Vita Coco Company, known as Vita Coco, is an American beverage big shot famous for its coconut water. They’re the top player in the coconut water game globally, flexing their coconut muscles in 31 countries by 2016.
In the fourth quarter ending December 31, 2023, Vita Coco hit some top highlights compared to the previous year: Net sales shot up by 15% to a cool $106 million, powered by an impressive 8% net sales jump and 3% volume growth of Vita Coco Coconut Water. And, their gross profit hit $40 million, making up 37% of net sales – a sweet $17 million increase from the previous year where they rocked 24% of sales. This boost was thanks to slashing transportation costs, a bump in volume, and higher Vita Coco Coconut Water prices.
11. National Beverage Corp. (NASDAQGS:FIZZ)
Market Capitalization: 4.47 billion
National Beverage Corp, the crew from Sunny Fort Lauderdale, Florida, is all about whipping up those delicious soft drinks like La Croix, Shasta, and Faygo.
In the third quarter till January 27, 2024, things were looking pretty sweet with net sales climbing up to $270,065 thousand, a bump from $268,483 thousand from the year before. And check this out – their net income popped up to $39,592 thousand, up from $34,361 thousand year-over-year. Plus, their Earnings Per Share jumped to $0.42, basic and diluted, showing some progress from $0.37 the year before. Looks like National Beverage Corp is fizzing with success!
10. Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF)
Market Capitalization: 5.24 billion
So, Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF), the Mexican beverage company, a subsidiary of The Coca Cola Company and FEMSA, had a solid fourth quarter, ending 31 December 2023, with sales hitting $3,943.35 million compared to $3,654.32 million the year before. The revenue also climbed up to $3,958.2million from $3,666.5 million the previous year. Coca-Cola FEMSA, S.A.B. de C.V. is 10th company on our list of Largest Soda and Soft Drink Companies in The World.
9. Coca-Cola Consolidated, Inc. (NASDAQGS:COKE)
Market Capitalization: 7.87 billion
Based in Charlotte, North Carolina, Coca-Cola Consolidated, Inc. is all about serving up those Coca-Cola drinks and more across 14 states. In the fourth quarter of 2023 ending 31 December, they saw a 4% bump in net sales compared to the previous year. Their gross profit hit $641 million, up by 7%, with a sweet gross margin improvement to 39.3%. Looking at the bigger picture, their income from operations for 2023 reached $834 million, a solid 30% climb from 2022.
8. Suntory Beverage & Food Limited (Other OTC:STBFY)
Market Capitalization: 9.94 billion
Suntory Beverage & Food Limited (Other OTC:STBFY), a Japanese multinational company, is really nailing the consumer packaged goods game, with a wide range of soft drinks, spirits, beer, wine, and wellness products spread out globally.
In 2023, they brought in total revenue of about $10.27 billion, marking a pretty solid 9.7% increase compared to the previous year. Even when you adjust for currency stuff, they still saw a healthy 5.7% growth. Suntory Beverage & Food Limited (Other OTC:STBFY) operating income also went up by 1.5% to $0.96 billion from the year before, but on a neutral currency basis, it dipped by 3.6%.
7. Asahi Group Holdings, Ltd. (Other OTC:ASBRF)
Market Capitalization: 18.39 billion
7th on our list of Largest Soda and Soft Drink Companies in The World is Asahi Group Holdings. Asahi Group Holdings, Ltd. (Other OTC:ASBRF) and its crew whip up and sell alcoholic drinks, soft drinks, and yummy food not just in Japan but also in Europe, Oceania, and Southeast Asia.
In Q3 of 2023 ending 30 September 2023, they saw a 6.1% increase in revenue compared to the previous year. This growth happened all over the place, thanks to higher prices and premium products taking the lead. And in real money terms, their revenue jumped by a solid 9.4%. On top of that, their core operating profit went up by 8.6%, thanks to more sales and some clever cost management tricks, despite higher expenses. When you cut out the currency effect, Asahi Group Holdings, Ltd. (Other OTC:ASBRF) core operating profit soared even more, by 12.9%.
6. Celsius Holdings, Inc. (NASDAQ:CELH)
Market Capitalization: $22.37 billion
In its latest financial overview of year 2023, Celsius Holdings, Inc. (NASDAQCM:CELH), a top producer of nutritional functional foods and beverages, reported record fourth-quarter revenue of $347 million, a 95% increase from the prior year. The surge was mainly driven by a remarkable 97% growth in North American revenue, totaling $333 million. This achievement by Celsius Holdings, Inc. (NASDAQCM:CELH) was fueled by expanded distribution points and a higher number of SKUs per location.
5. Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)
Market Capitalization: $33.07 billion
Coca-Cola Europacific Partners plc (CCEP), formerly known as Coca-Cola European Partners (2016–2021), is a British-American company that was established through the amalgamation of the three principal bottling entities for The Coca-Cola Company in Western Europe: Coca-Cola Enterprises, Coca-Cola Iberian Partners, S.A., and Coca-Cola Erfrischungsgetränke AG, along with one bottling company in Asia-Pacific, Coca-Cola Amatil.
Following the most recent financial results, Coca-Cola Europacific Partners PLC (NASDAQGS:CCEP) performance has garnered the attention of 15 analysts, who are now forecasting revenues of $22.31 billion by 2024. Should this projection materialize, it would signify an 11% revenue increase from the previous 12 months. Additionally, statutory earnings per share are anticipated to rise by 7.3% to $4.27.
4. Keurig Dr Pepper Inc. (NASDAQ:KDP)
Market Capitalization: $40.10 billion
Dr Pepper Snapple Group used to be this big American soft drink company from Texas, but now it’s part of Keurig Dr Pepper since July 2018. Here are the highlights for the full year 2023: They had some solid mid-single-digit growth in net sales, mainly driven by their U.S. Refreshment Beverages and International segments. Their adjusted diluted EPS also grew by 6%, just as they expected, thanks to some cool changes in their earnings mix. Plus, they saw some good market share gains in categories that cover about 85% of their portfolio in the U.S. Refreshment Beverages.
3. Monster Beverage Corporation (NASDAQ:MNST)
Market Capitalization: $63.32 billion
So, Monster Beverage is all about those energy drinks, soft drinks, and other cool beverages. They’re based in Corona, California, and have been around since 1935 when they started as Hansen’s Juices. Since 2012, they’ve been operating under Monster Beverage Corporation. Monster owns the Blue Sky Beverage Company, where they make a bunch of awesome soft drinks.
For the fourth quarter of 2023 ending 31 December, their net sales jumped by 14.4% to $1.73 billion from the previous year. Unfortunately, changes in foreign exchange rates hit them for $27.1 million, but when you adjust for that, their net sales were up by 16.1%.
2. PepsiCo, Inc. (NASDAQ:PEP)
Market Capitalization: $227.19 billion
PepsiCo, Inc. is like the big boss in the food, snack, and beverage world, with its headquarters in Harrison, New York. They cover everything in the market, from chips to drinks. In full year 2023, they brought in a whopping $91.5 billion in revenue, showing a nice 5.9% increase from the year before. Their net income also went up by 1.8% to $9.07 billion. Their profit margin stayed steady at 9.9%, holding strong like the year before.
1. The Coca-Cola Company (NYSE:KO)
Market Capitalization: $263.58 billion
The Coca-Cola Company has been around since 1892, making that good old Coca-Cola we all know. They’re not just about the fizzy stuff, though. They also whip up other non-alcoholic drinks and even some boozy ones.
In the last quarter of 2023 ending 31 December, their net revenues rose by 7% to a whopping $10.8 billion, with their organic revenues (that’s the non-GAAP measure) going up by 12%. This growth was fueled by a 9% bump in price/mix and a 3% increase in concentrate sales. Plus, they got lucky with an extra day in the quarter, giving a little boost to their revenue growth. For the whole year, they tallied up a 6% increase in net revenues, hitting $45.8 billion. Their organic revenues also shot up by 12%, with a 10% boost in price/mix and a 2% rise in concentrate sales.
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Disclosure: None. 16 Largest Soda and Soft Drink Companies in The World is originally published on Insider Monkey.
