In this piece, we are going to look at 16 Largest Soda and Soft Drink Companies in The World. If you want to skip our analysis on the soda and soft drinks market, you can go directly to 6 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.
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 16Largest Soda and Soft Drink Companies in The World.
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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.
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.
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.
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.
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.
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!
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.
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.
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%.
